> I was making $50/hour fresh out of college back in 2014. And I worked remotely.
Same for me, except out of high school, and a decade earlier.
That's the sordid tale of the industry. Outside of a handful of FAANG high flyers, pay, in real dollars, has been very steadily decreasing over many decades. But it took high inflation for us to notice.
Now we're in a difficult spot because we feel we need to make more to make up for the considerably higher cost of living, but there is no market willing to pay more — and never was.
The market can bear to pay high salaries for the right talent.
If you can show me you have tangible development skills and can think about the product or feature you develop as a business (eg. Can you justify to me in financial terms the net benefit doing a refactor does versus keeping the status quo) you will be fine.
We aren't going to pay you $300k-$400k TC just to be a code monkey. We expect you to be able to help inform actual business decisions and not be a PITA when thinking about the core metrics that matter for a business - NARR, FCF, and COGS.
So, being a developer who is specialized in a business domain (eg. Being a fullstack developer but with a decade of experience working on Cloud Security products) makes it easier for hiring managers to decide whether or not to hire you. And as a former PM, those kinds of Engineers are the best to work with becuase they understand the pitfalls that exist in a subdomain and have opinions and the ability to justify them.
Those who can upskill or show the ability to upskill are also worth their weight in TC.
And finally, you will have to be located in Tier 1 tech hubs now (Bay Area, Seattle, Austin, NYC). The 5-7 year blip of satellite offices in RTP or Denver or Portland or being 100% WFH in a cabin in Montana is over. The roles at these kinds of offices are the ones that get offshored first.
> And finally, you will have to be located in Tier 1 tech hubs now
Exactly. Adjusted for cost of living, $300,000 in SF or NYC is about $170,000 where I lived back then, so ~$80/hr. Which is, after adjusted for inflation to that time... You guessed it: $50.94/hr!
And you're pointing at high quality talent with considerable experience, not some kid out of high school. Said kid out of high school like I was back then isn't going to find that much in today's market. As you point out, the market has tanked big time — and has been tanking for decades.
As before, we're only just now starting to notice how far behind we’ve fallen because of things recently becoming exceptionally more expensive.
> Adjusted for cost of living, $300,000 in SF or NYC is about $170,000 where I lived back then, so ~$80/hr
I've lived in SF over the same time period as well, and my CoL hasn't changed aside from rent - I've kept the same consistent savings rate - but even rent was largely manageable for me because of job opportunities and a mix of local and state rent control.
That said, I do think being Asian or Latiné means having different buying preferences (eg. the bulk of my shopping is at ethnic grocery stores and my "white people food" is primarily sourced from Costco or TJ).
Ofc, looking visibly ethnic also gives me the ethnic discount at most places I shop at.
> Said kid out of high school like I was back then isn't going to find that much in today's market. As you point out, the market has tanked big time — and has been tanking for decades
Oof, that is actually a good point. Sadly, you are right about that. I don't think hiring managers in the US would take a risk on hiring a HSer even if they have the right skills and domain experience.
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That said, I am starting to come around to your argument.
Same for me, except out of high school, and a decade earlier.
That's the sordid tale of the industry. Outside of a handful of FAANG high flyers, pay, in real dollars, has been very steadily decreasing over many decades. But it took high inflation for us to notice.
Now we're in a difficult spot because we feel we need to make more to make up for the considerably higher cost of living, but there is no market willing to pay more — and never was.