Ask HN: Is the Great Resignation in tech real? If so, why? • Hacker News Board

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#111

Post by jpgvm » Sun, Oct 24, 2021, 7:09 AM UTC

Remote and increased liquidity are the two biggest drivers.

Remote is making people reevaluate work/life balance in general, some people that aren't getting their preferences matched in this regard are thus leaving.

Huge amounts of liquidity means there is now a lot more money sloshing around in the pockets of startups and public tech companies that raised money in the 2020/2021 equities boom. Tech companies suck at retention based raises (I still have no fucking clue why this is) so there is a large amount of reshuffling happening as people move to take advantage of better wages being offered elsewhere.

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#112

Post by sudhirj » Sun, Oct 24, 2021, 7:10 AM UTC

KKKKkkkk1 wrote: post #101

I still remember the days when people were posting on Slashdot that software engineering has no future in the US because it's all moving to India. As we know, that turned out not to be the case. Tech companies have been willing to pay literally 10x for engineers to work from their US headquarters. Now folks are again claiming that the era of remote work is upon us. Maybe that's true. But be careful what you wish for.

I’m actually from India, and since the pandemic started it’s been quite an equaliser. I work for companies in the US, and since I stay up late I can manage a lot of time zone overlap. And I get paid nearly (not 100%, but close) of US salaries. So there’s definitely a case of on the Internet no one knows where you’re from kicking in.

Instead of cheap outsourcing, I’m seeing more of an approach where salaries are cut slightly because they no longer need to be staffed in the Bay Area, and the job then offered to anyone anywhere in the world.

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#113

Post by 6gvONxR4sf7o » Sun, Oct 24, 2021, 7:13 AM UTC

> Remote work allows better matching of people and jobs.

This is my theory on non-tech jobs too. You get stuck in a rut with a shit job waiting tables, when the pandemic hits and your restaurant shuts down. We’ll now you have to take a crack at that other career you told yourself you’d try, or you’d move back home like you meant to. Friction is hard to overcome. But when something external acts as a catalyst, matching improves. Less friction between employees switching jobs/careers/industries/locations is a great thing.

The people complaining about difficulties hiring were probably the ones benefitting from high friction. Now it’s working against them (it’s harder to pick up your life and move back to that shitty job you hated than to stay and do something else).

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#114

Post by gnicholas » Sun, Oct 24, 2021, 7:22 AM UTC

COVID has also:

1: given parents a taste of new options for schooling their children. Many people tried tried out homeschooling and are planning to continue. This move decouples K12 education from real estate decisions and provides even more incentive to have a work/life balance that allows parents to be more involved in their kids' education.

2: let people vote with their feet more easily WRT state income taxes. People realized that they can now move to a low/no-tax state and take home a lot more money. Even if you take a 10 percent pay cut to move elsewhere, everything is cheaper than in SF/NYC. Your take-home pay is the same since there's no state income tax, and you can afford much more house/car/vacation/etc. in your new location.

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#115

Post by fkarg » Sun, Oct 24, 2021, 7:24 AM UTC

the first three should expect a pay rise on average (similarly to what's happening), as most job changes are associated with a pay rise.

on 4: there is some systemic data that has been available for years that this is the case. Wouldn't be surprised for the awareness to have spread and people adapting accordingly.

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#116

Post by thewhitetulip » Sun, Oct 24, 2021, 7:34 AM UTC

kanakiyajay wrote: post #96

There is good evidence in terms of attrition numbers published by major tech companies --- it has gone as high as 22%!! India is also experiencing a major demand for software developers It's due to venture funds, remote work & high demand ... Cash is cheap. US, Europe & Japan have unleashed >$9 trillion since the pandemic in stimulus checks & buying of bonds in the market. Global venture funding hit a record high of…

The funny thing is that the 2-3 month notice period was created so that people don't quit.

But now it has turned against companies!

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#117

Post by jurassic » Sun, Oct 24, 2021, 7:37 AM UTC

I think the incredible stock market gains and home price growth over the past few years have helped a lot of people feel confident leaving their jobs for a sabbatical that otherwise might not. I know in my own case, even if a lot of the nominal growth is due to devaluation of the dollar, seeing a 7 figure balance on my net worth statement for the first time has definitely put swagger into my step over the last year or so. I haven't quit yet, but I wouldn't hesitate if something changed and I stopped enjoying my job.

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#118

Post by urthor » Sun, Oct 24, 2021, 7:37 AM UTC

KKKKkkkk1 wrote: post #101

I still remember the days when people were posting on Slashdot that software engineering has no future in the US because it's all moving to India. As we know, that turned out not to be the case. Tech companies have been willing to pay literally 10x for engineers to work from their US headquarters. Now folks are again claiming that the era of remote work is upon us. Maybe that's true. But be careful what you wish for.

I still think we are at the dawn of widespread adoption of remote work.

I fully expect the pendulum to swing the other way from favoring intra-US remote work like it is now.

Highly competent developers phoning it in from Peru, totally unlike the 1990s, very much seems like it'll be an extremely prominent trend in the future.

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#119

Post by andygrd » Sun, Oct 24, 2021, 7:39 AM UTC

cammikebrown wrote: post #4

Switching employers, especially in tech, to get more money is not a new thing due to COVID. For whatever reason, employers are more likely to hire new talent at a higher pay grade than give equivalent raises to current employees. I know lots of folks in tech who would switch jobs every 2-3 years and get a much more significant raise each time than by staying with their current employer.

Amen, this is the unvarnished truth. I suppose it's easier to overlook the employees and knowledge you have. If I stayed in the same company for the past ten years I'd bet on less than half of what I'm on now

Re: Ask HN: Is the Great Resignation in tech real? If so, why?

#120

Post by nodicksplease » Sun, Oct 24, 2021, 7:40 AM UTC

KKKKkkkk1 wrote: post #101

I still remember the days when people were posting on Slashdot that software engineering has no future in the US because it's all moving to India. As we know, that turned out not to be the case. Tech companies have been willing to pay literally 10x for engineers to work from their US headquarters. Now folks are again claiming that the era of remote work is upon us. Maybe that's true. But be careful what you wish for.

can you replicate the same culture?