Tech employees' comp about go down with Meta, Netflix, etc. struggling?
The past few years, salary for SWE and Data Scientists was buoyed by the really competitive offers from the likes of Meta, Uber, Netflix, etc. Now that those companies are facing serious headwind with shrinking profit. Do you see a re-pricing for SWE/DS salary across the board?
Wages are incredibly sticky. They are almost never lowered. But they could just stop giving raises for a few years to let inflation count as a pay cut
Previous downturns like the 2000 dot-com bust led to layoffs, reduced bonuses and other perks. More people looking for jobs after layoffs or the former employer going bust meant more competition for fewer jobs and lower offers. Some companies cut salaries across the board.
Layoffs often come down to managers working with a budget goal and choosing who to let go. Anyone with a really high salary may find themselves more vulnerable at such times, especially if projects get scaled back at the same time. Surviving rounds of layoffs means having indispensable skills and a salary not so high that replacing you looks feasible.