> According to the report, when adjusting for inflation, tech salaries plunged to their lowest point in the past five years, decreasing 9% from $141,000 to $129,000 from 2022 to mid-2023.
So, inflation adjusted, we're back to 2018 levels which doesn't seem too bad. Anecdotally, it felt like that was about when the whole "I get paid $200k and work 2 hours a day" type stories really started to take off. This doesn't feel like a massive issue. Just the bubble deflating a bit.
> Tech professionals have been moving from expensive cities to lower-cost locations. U.S. inflation-adjusted remote salaries have been higher on average. Employers have decreased the number of open roles in high-cost-of-living markets by 19% and have nearly quadrupled the number of positions in low-cost-of-living markets to 9% since 2020.
Completely unsurprising, IMO.
It feels to me like big tech is trimming the fat now that they realized their race to hire as much talent as possible at any cost wasn't paying off and small companies that have embraced remote work have realized there's cheaper options elsewhere.
So, inflation adjusted, we're back to 2018 levels which doesn't seem too bad. Anecdotally, it felt like that was about when the whole "I get paid $200k and work 2 hours a day" type stories really started to take off. This doesn't feel like a massive issue. Just the bubble deflating a bit.
> Tech professionals have been moving from expensive cities to lower-cost locations. U.S. inflation-adjusted remote salaries have been higher on average. Employers have decreased the number of open roles in high-cost-of-living markets by 19% and have nearly quadrupled the number of positions in low-cost-of-living markets to 9% since 2020.
Completely unsurprising, IMO.
It feels to me like big tech is trimming the fat now that they realized their race to hire as much talent as possible at any cost wasn't paying off and small companies that have embraced remote work have realized there's cheaper options elsewhere.