Bay Area tech workers are seeing 'salary stagnation,' new report says | Hacker News Reader

Bay Area tech workers are seeing 'salary stagnation,' new report says

sfgate.com

There are only two ways to ascend economically. Find a growth area and bootstrap a business (lending to yourself to capture more market share before others) or chasing risk taking investors.

What is happening is a huge ecosystem based around chasing California style VC risk takers is getting less water and it's starting to dry out at the edges.

But chasing local growth has never been easier thanks to the legacy from the California VC ecosystem. One or two persons with knowledge of programming and networking (and some old timey human networking) can now easily throw services at a local big city market and see what sticks.

No stagnation in executive compensation though

If you’re making as much or more than a medical doctor, should you really complain if your comp is flat?

I’m in that boat, and my comp was more or less flat this year, as was most of the company. I’m overjoyed and ecstatic and thankful to be making this much.

But some of my colleagues are furious and upset. C’mon, really?

I guess if you’ve been making FAANG comp all your career, you have no experience making anything less? Versus if you’re coming from the non tech world where a senior or staff SWE will retire in their 60s making about as much as a FAANG junior SWE, you have a lot more to be thankful for.

If the company profits are up and your pay is flat (as is the case at many tech companies) then yes I think you can and should complain.

Isn’t that was RSUs seek to address? (Arguably inadequately.) With regard to being locked up in a 4 year vest schedule during grant.

Not seeing a stagnation in corporate profits though.

Their house mortgages will keep them not quit their jobs !!

This is just another correction from the 2021 bubble, no?

It sucks, but better this than the layoff form of re-balancing.

About time salaries corrected down.

Why not see everyone else correct up?

Tech salaries aren’t too high. It’s many other salaries that are far too low from decades of stagnation.

I guess “Market” will speak e.g. in terms of layoffs.

The antiquated still think 28K is a reasonable salary, and that is before any tax deductions.

Mentalities like those are one of the reason why salaries are so low in the UK.

This has nothing to do with mentalities.

Think: 1. Supply glut 2. Dead cheap and effective AI coding assistants 3. Contracting economy

People forgetting that remote work turns local jobs into global jobs. And people live in Haiti and Venezuela with starlink and Fiber

> Why not see everyone else correct up?

Because the rich executive class don't want to pay that much scratch.

The employment market is very much a free market system right now. There is enough supply to meet the current demand and keep the existing inflated salaries. We seem to have reached an equilibrium.

Ive never heard of s free market where people are forced to participate lest they die of hunger and homelessness.

We have a disgusting power imbalance that gets worse every day.

There are plenty of free markets with indirect forced participation. The freedom doesn't come from choice to participate but rather choice of who to engage with and competition.

Its not a feee market with forced participation.

People need to quit changing the definitions of words to fit their argument or worldview.

Inflation with tech salary stagnation? That’s what we’re seeing.

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