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Pet theory: real wages in tech have dropped since pandemic levels, so for the first time in years staying in your job (provided you got it a few years ago) is better financially than switching. The sector was pretty accustomed to constant churn, so this sticking with it is pretty unusual.

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I'm seeing old co-workers on linkedin that got caught up in this, they switched during the pandemic, some to positions and salaries I assume were inflated from knowing them previously. Once the layoffs hit they started looking for jobs with the same title/salary and there's was nothing.

I'm one of those who didn't switch, I thought I was making a mistake, now? New hires are coming in and being offered a little more than pre-pandemic pay. Below what I'm making now for the same position.

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