It's a labor market and all participants respond to the incentives they experience. How many of you have asked about TC when you got an offer? Everyone, right? Now, how many people asked if there were quotas for bad performance reviews or PIPs or non-regretted attrition? and how many people walked away from that sweet, sweet TC bump if the answer was yes? Companies want to hire productive employees and they provide what the market demands. The market has been demanding max TC, and the market has NOT been pushing back on toxic backstabbing culture. Amazon openly advertised what they do for years and they still hire people. If companies are going to pay top dollar, they're also going to squeeze as hard as they can to maximize what they get for that dollar. Duh. We get what we incentivized employers to give us. If we want this to change, we have to start declining offers from companies over firing quotas and not chase TC above all else. Change my mind. TC: 480 at recent stock price, YoE 15
Cool. Tech is an echo chamber full of itself. You don’t know what “toxic” is. Sustaining high TC without PIP is just dumb. This is the oddest take on macroeconomics with something that has nothing to do with economy. But I agree. You make unsustainable salaries and chickens are coming home to roost (as they said in the wolf of Wall Street)
this outcome is a product of the economy not accepting high salaries. Technology isn’t even the highest paying field… Idk what OP means
Fintech does pay more for sure.
Also the job hopping culture, just make switches in order to bump your TC.
BS, some companies are (ahem, were) well known for good WLB and people often did choose them based on that. G, MSFT, Twitter, to name a few. Also labor market is far from being a fair market - in fact, I would go as far as saying it’s quite ridiculous to think of it in market economy terms. Inefficiencies are vast, and assumptions do not hold at all.
One view is that that some companies _used to_ have good WLB as a historical inefficiency in the market, which is now being "corrected." An alternative view is that good WLB made sense when there was a talent shortage because it was a tiebreaker, or that good WLB and psychological safety promoted creative problem solving which was good for "growing the pie" when everything was booming, but is valued less in hard times compared to faster execution. What do you think the right system dynamics model is?
Rationality and striving for price optimization are some of the basic assumptions. From that POV, TC chasing would be adding liquidity and must make labor market more efficient, and could only lead to higher salaries everything else equal. But most people overstay their tenure, or value non-monetary things more, breaking both of those. I’d be cautious to apply any sort of model to labor market, to be fair. Most quantitive approaches ignore everything but the money, or try to evaluate non-monetary aspects in $ too, which I think is fundamentally flawed. Best companies in terms of comp/hiring management I’ve seen are small, and in general follow the principle of paying whatever it takes to onboard, and afterwards “as fair as they can figure out” - but for that you have to be highly profitable and nimble. Just to clarify, the point of the approach there is to take money out of the equation, if you can afford it - and focus on everything else to make people productive.
I needed more TC tho
😂💸
Are you PIPed?
PIPs aren't until Jan/Feb.
It's true that labor markets are driven by supply and demand, and that employees often prioritize high salaries when choosing a job. However, it's also important to consider the overall work environment and culture when making a decision about where to work. Incentivizing companies to create a positive and supportive work environment, rather than simply chasing high salaries, can ultimately lead to better outcomes for both employees and employers.
No, you should always seek to optimize your well being. Not chasing TC during boom times does not stop you from getting wrecked during hard times, just leaves you without a cushion to deal with it.
It may be unpopular, but you're very right. Anyone who thinks otherwise is out of touch or very young / inexperienced.
So it's OK for companies to layoff people to decrease their costs, and maximize their profits, but it's not OK for employees to maximize theirs? And as opposed to companies, money is not all we care about - career, WLB, location, projects all matter. But we want - and deserve - the highest TC that the market provides for our talent and work.
Entitlement? You realize companies never pay you more than your "market value", however they determine it . But sure, I understand your point. We shouldn't just think of ourselves when negotiating for our salary; we should also think of the company, and if it should really pay us that much. You're absolutely right. It shouldn't be me me me only while poor Amazon, Google, Facebook suffer. We should all make donations back to them for all the years they suffered because of our greed.. I assume you want to make an example by working for free. It'd be a great demonstration for charity for these corporations.
voodoo100, congratulations, you’ve lost at capitalism
Zuck put the TC grease 💴 in the squeaky wheel..