I expect many of these candidates will be laughed out of the room during the negotiating stage for asking for $300k total comp. The good times are over!
> For moral reasons, I don't want to hire someone who worked at Facebook.
That's quite a hostile and closed minded take, but an understandable cope for someone who could never hire a FAANG engineer in the first place.
I get what you are saying, but the worst performer at Facebook is most likely going to be a MUCH better engineer/programmer than a mid-level or low-level technician at YOUR company. Maybe it is true that they don't measure up any more at Facebook, but they might not measure up by 1 or 2% so they got cut. But that is still WAY better than anyone at someone else's company. The workers that get cut are the "A-" GPA employees. The ones with a 4.0 stay.
What is going to happen is that the high-end "A-" employees at the "A" companies are pushed down to the "B" level companies, and the "B" level employees will now be pushed down to "C" level companies. And the "C" level people are going to be pushed out the door. The lowest level workers are going to have the toughest time overall and especially "C" level new hires most of all.
As the saying goes, shit flows downhill, and "C" level employees and new hires are always at the bottom of the totem pole.
No ethical consumption, etc.
Meanwhile, the workers who took those jobs deluded themselves into thinking they deserved those salaries based purely on merit, and that their salary would keep increasing throughout their career.
This also says nothing of the (what I would consider) tier 2/3 companies still offering over $300k TC for senior (5+ yr experience) technical talent. There are _even more_ more well-funded, semi-unicorn startups offering base salary $200k+ plus equity in their startups. In my last job search alone I found 3 of these companies which you've probably never heard of.
The competition for _technical_ talent is fierce.