Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

news.ycombinator.com

Post reply on HN
Print view View original

261–270 of 270 posts

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

#261

Post by TrueGeek »

kamaal wrote: post #250
sudhirj wrote: post #112

Earlier quoted context omitted.

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 s…

>>And I get paid nearly (not 100%, but close) of US salaries. 99% of Indians who work on outsourced projects, don't make any where close to that money. In fact the very reason outsourcing exists is because of price arbitrage. FANG's are an exception to this, but that only proves the rule. Bulk of the world needs software written and maintained for cheap.

There are many offshore devs make $30k. There are also many offshore devs making $100k. It's not valley money, but it's good money.

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

#262

Post by cybert00th »

It's real, I'm due to start a better role in a boot strapped company, that's just received VC funding; and for nigh on double my current salary.

And all because a colleague goaded me into reassessing where I was and where I wanted to be (they didn't do it nicely).

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

#263

Post by gHosts »

d4mi3n wrote: post #9

I think there a variety of factors at play in the tech sector driving hiring trends: 1. There are, in fact, tech companies that still demand employees come into a physical office. There comes a tipping point in a laborer's market (tech being one of them) where this becomes sufficient reason to leave when there are plenty of reasonable alternatives that don't require employees be physically present. 2. Mental health i…

And there is the core difference....

For some socialization is stress relief.... for others, such as myself, it's stress.

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

#264

Post by decafninja »

Unintended consequence of WFH during 2020-2021 is that it made the job search easier. Much easier to schedule virtual interviews than having to use up vacation days.

This is probably across many industries and professions, but one particular thing was extremely helpful for software engineers looking to change jobs - time for leetcode.

It's much, much, much, much easier to learn and practice leetcode problems and other related technical coding interview stuff while you're WFH than if you're in the office.

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

#265

Post by totalZero »

optimiz3 wrote: post #249
totalZero wrote: post #235

Earlier quoted context omitted.

That's not interest, it's yield enhancement. You're giving away upside potential in exchange for premium collected, and you still have downside exposure.

Anyone trading covered calls on MM in assets already understands this. Interest is a simpler concept which leads people to more advanced yield enhancement strategies. Giving away long tail upside in exchange for guaranteed yield is a perfectly fine method of salary replacement.

Nowadays, not everyone who trades options in a personal account understands the risks.

It's not interest and it's not guaranteed yield. It's yield enhancement. You are exchanging one reward for another, without totally attenuating the risk. You can lose money if the stock falls below your purchase price minus the premium collected.

Collecting interest can be risky too, but it's a question of default rather than price action.

Signed, Your Friendly Neighborhood Skewness-Man

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

#266

Post by thewhitetulip »

kamaal wrote: post #257
thewhitetulip wrote: post #254

Earlier quoted context omitted.

Yes but in the usual market openings are low and budget is low. Now a days loads of ppl quit so openings are high and companies have to give better salary. That tilts the scale in our favour. So now ppl quit and then get multiple offers otherwise salary doesn't increase. That's the only way to get a raise. It should be a crime, a literal crime to ask for current salary. If I am let's say 5yr experience you give me ap…

>>Now a days loads of ppl quit so openings are high and companies have to give better salary. Has always been that way. The easiest way to replace people is to hire freshers who are looking for a break. That way they don't have to pay high salaries. This is why you see every year there is an ever increasing demand for freshers. If you are experienced you need to be enough responsibilities free to attempt crazy job ho…

I'm not advocating for a crazy job hopping lifestyle. But without job hopping salaries don't even increase wrt inflation. I worked for 6+yrs on a low salary because I didn't realize early enough that I have to switch to get good hikes

My salary has increased now in much more magnitude than my old org. Also my friends who hopped 1 more time than me have significantly more salary than me. All in the same city so they have no issues getting loans or building assets.

> There are not enough rockstar projects, to need rockstar developers.

Is this true even for Product companies and captives?

> People pay just 30% because they don't want to deal with any of this.

Then they shouldn't cry rivers of blood when people who've stayed half a decade at their first company takes their offer to get 5 other counter offers and doesn't join in their company for a meagre 30% hike.

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

#267

Post by throwsmtwnwa »

Saleshooman wrote: post #153

Ever since I graduated I have worked in technology, SAAS (B2B) specifically I am 27 year old- Male, SAAS (B2B) specifically. I just accepted an offer to leave one of the hottest companies in the Bay (Went from 400 mil (2.5 Years ago, when I started) to 6 Billion today), I work in sales and have now been a part of 3 unicorns in the last 5 years. (All of them I started as an employee when they were small, 1 is worth 1.…

Also in a small town in WA here. What town are you in?

Put an email in your profile if you want to get lunch and talk nerd stuff.

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

#268

Post by known »

kamaal wrote: post #252
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…

Inflation in India is close to 15%(every thing added). If you are a rich person sitting on a fortune you have to invest and spend it. If you are worth 3 digit crores, you are losing 2 digit crores an year, if you are 4 digit crores you are losing 3 digit crores an year. What this means is you need to keep investing money to even stay afloat, hence the VC investment madness. India has seen this trends in the past too.…

Inflation rates in India since 1960 https://www.macrotrends.net/countries/IND/india/inflation-ra...

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

#269

Post by kamaal »

thewhitetulip wrote: post #266
kamaal wrote: post #257

Earlier quoted context omitted.

>>Now a days loads of ppl quit so openings are high and companies have to give better salary. Has always been that way. The easiest way to replace people is to hire freshers who are looking for a break. That way they don't have to pay high salaries. This is why you see every year there is an ever increasing demand for freshers. If you are experienced you need to be enough responsibilities free to attempt crazy job ho…

I'm not advocating for a crazy job hopping lifestyle. But without job hopping salaries don't even increase wrt inflation. I worked for 6+yrs on a low salary because I didn't realize early enough that I have to switch to get good hikes My salary has increased now in much more magnitude than my old org. Also my friends who hopped 1 more time than me have significantly more salary than me. All in the same city so they h…

>>Is this true even for Product companies and captives?

Yes, even more true in Product than Services companies. And for a very simple reason. Shelf life of most projects is small, and it resembles to be quite honest 'throw away work'.

>>Then they shouldn't cry rivers of blood when people who've stayed half a decade at their first company takes their offer to get 5 other counter offers and doesn't join in their company for a meagre 30% hike.

They don't. In fact they are happy you left, if they had to fire you they would have to pay severance. Now not only are you gone, you can be easily replaced with a fresher.

It's a brutal market. Plan for your retirement before you are forced to retire.

Post reply on HN