Know anyone in your social circle who job hunted recently? One thing in common - they are all taking huge salary cuts. 30-50% cut is typical, no exaggeration. Even for the very few who can still make it into FAANG (most can’t get even get interviews there now), check levels fyi and you will see recent offers are also low band, despite much higher selectivity. Add to this the salary deflation (all companies raising significantly less than inflation) and you can see tech TC is crashing very very hard in real time. Bubble salary days are gone - you just haven’t noticed it yet unless you job hunted recently. Rest of us will gradually have salaries inflated away or reset through churn Tc 400
Really? FAANG doesn’t look too bad to me. Mean G L5 pay has been about tree fiddy for a long time.
Yup this is true. 30-50% paycut
I just got a 370k offer full remote in flyover state at 5 yoe.... There is still a huge skill gap, if you are a specialist in the right area. FANG are not the best paying right now, they all follow eachother. And that hybrid shit is so dumb...
I had multiple initial offers over 300k for L4 a couple months back when I was laid off from meta. Pinterest offered 350k after competing with Databricks & plaid
And you didn’t join Databricks? 🙀
😖
Very naive thought, given the current lower price of stocks (with higher potential of appreciation) vs the previous high stock price (with higher risk of loosing value), aren't offers eventually comparable in the long run?
Tech stock prices aren't necessarily down though
They aren't down, but they were overvalued before meaning they're now worth the same as larger grants before
Data point: Fresh USC CS grad (not me). Startup in SF. Cash component of salary 200k. Seems pretty good to me.
200k cash in a startup for a new grad? Sounds unbelievable honestly
+1…there’s def special circumstances there
In the case of Amazon - we have compensation bands per role/level. In 2022, during the insanity and multiple offers, people were getting offers at 90-100%+ of that band. Today, those offers are at 50%. The bands have not changed. But new hires are being placed in them differently.
Is Amazon done with the layoffs ?
They are done with the announced layoffs. I think they are seeing how natural attrition goes following RTO before new layoffs are announced. Who knows.
STFU
Not my circle… stop being a doomer. What do you get out of it?
Fake news
Yep. Lost my job this year and found another with better pay. 200k tc.
Op is talking about FAANG salary. 200k is really low for tech roles.