As markets becoming increasingly less forgiving for ponzi tech, I think we can extrapolate a lot from what happened during the internet bubble to talent and compensation. During the Yahoo era engineers were also milking it during the incredible liquidity bubble. Soon after the burst, the ‘prestige’ of the role and compensation was readjusted to meet market expectations. Similarly we saw the same influx of newly minted coders/CS students now and then flooding the market with a supply of commoditized talent. Predicting a lot of SWE roles will be relabeled as ‘IT’ or relegated into back office roles. Compensation will follow suit, and a lot of the ponzi-esque equity schemes will not be restruck at mtm. Yoe- 7 TC- 450k
Something like it. Devs who were once BSDs at FAANG will become the modern equivalent of VB programmers for fortune 5000 companies. Tons of work cobbling together cloud apps that support important custom workflows for SMBs
BSD?
Catchphrase section. https://en.m.wikipedia.org/wiki/Liar%27s_Poker
I think you guys are forgetting the ratio of people at big tech supporting/building the products to the people actually using them. This ratio is why TCs are and will continue to be high. Simple supply/demand. Yes there is a correction going on from the pandemic scaling as companies and people were online more, but that’s all this is as it relates to tech specifically. Everything else is upcoming recession.
No agree here, the rockstars will remain relevant, just there will be a lot less investment/headcount supporting the same products. But again this is a cycle, so eventually the market will recover. Just worth benchmarking expectations between the dotcom boom to the latest tech mania.
Ever wonder why motels and hotels is BA are always full during downturns? Yes, handover from here to WITCH
What is BA
Bay Area