I'm sure that we haven't found the limit yet. Usually this kind of discussion turns to supply-and-demand economics and somebody says that if you want to hire software engineers you just have to offer more. That's not wrong, but it too narrow a view. A free labour market ensures that skilled people get allocated to the highest value work, which is a great outcome for everyone. But there are so many projects that never happen at all because software engineers are so scarce. The cost of a software project is not just paying the engineers to do the work, it also has to get over the hurdle of finding, evaluating and enticing them to join the project in the first place.