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I’ve been wondering if SWE pay rates have been artificially high for a while due to easy lending - it will be interesting to see if your prediction comes true. Probably a lot of SW companies out there right now are dependent on discretionary income which puts them at risk in a tough market.

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SWE salaries are also very high because right now it's cheap as hell to run a software company leading to huge returns. Overheads are miniscule. The salaries can take a larger slice of the pie.

A lot of people in the comments are talking about how EE work is comparatively much harder. But that's irrelevant. SWEs simply make businesses more money.

But a large number of software businesses are not making any money at all.

Which goes back to this subthread’s root post about investors focusing on companies “promising massive returns in the future.”

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