Clearly the pullback in tech has had an effect, and there were reports about 9 or so months ago that tech salaries had fallen around 15%. For me personally my salary has basically been flat for the past 5 years (some ups and downs), and it's probably the longest stretch I've seen that happen. When you take inflation into account it means my salary has fallen about 19%. Overall it definitely feels to me that there is salary compression at many levels - on the lower end I see tons of outsourcing to LatAm and Eastern Europe, so junior folks are competing with those salaries, and on the higher end unless you're in senior management (SVP or above) that salaries are essentially capped lower than they've been in the past. Note I'm not so much in "the thick of it" with regards to the current hotness of AI, so not sure how those salaries compare.
Just curious to hear what others are seeing.
After failing to even get a first round interview from countless applications, I resorted to literal door knocking to find something.
Took a 2/3s pay cut, barely able to cover my expenses.
I was laid off from that job after a year with less than a week's notice and no serverance. I was classified 1099, so no unemployment benefits.
It feels a little better now than it did a year ago.