Facebook, Coinbase, all these companies publicly announcing hiring freezes. There should be plenty of other tech companies and non tech hiring, but will this soften wages?
If the tech stock bloodbath continues, that certainly will impact wages on the FAANG side. People might start leaving for places that offer more cash comp, or FAANGs might increase RSUs to compensate.
It seems like a lot of the recent wage growth is at the lower-mid tiers, which make up the bulk of the industry. So, if companies that pay in the $80-120 range start cutting back on hiring, we might see a softening of wages for normal developers. I have not seen this happening...yet.
Trading on specific non-public information is insider trading and is illegal at all times - even during official trading windows.
Maybe they can, but I think that’s a very generous assumption.
Hedges can predict a recession is coming, just not the timing. They have been saying it for the last 12 months.
> a team of accountants at an Amazon
Amazon hires ex-bankers to work for them. They aren't a team of accountants. It's a cushy corproate job that many bankers take. It's good to do when you don't want to hustle long hours anymore.
> And if they could, why don't they exit their core business and get into trading stocks?
What?!
in high-rate environment high-risk high-growth stocks are unattractive, so investors pull the money out and invest it into “safer” assets
don’t forget that many investors are leveraged too and a sale of one big investor might trigger a selloff chain reaction
did you short?
it’s well-known economic fact that after a crisis there’s always recovery
Smaller and medium companies are offering great salaries right now. I took an offer for over $300k just on salary. I know others who are jumping ship from the big companies to smaller ones while still getting a big bump in salary. Even with this market slump there are far more open positions than there are people to fill them, which means those people can demand quite a bit.
That said I interviewed for a bunch of companies, and with the exception of a small few all of the salaries were above $250k. This is for principal level roles.