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?

#31

Post by mym1990 » Sun, Oct 24, 2021, 2:16 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.

Also, since there are less in office perks now due to WFH, it’s easier to focus on salary as the determining factor and not have judgement clouded by all the “glitzy stuff”

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

#32

Post by sillysaurusx » Sun, Oct 24, 2021, 2:17 AM UTC

dsizzle wrote: post #14

spyckie2 wrote: post #6

My friends in the last 4 years got 2x/3x salary increments without COVIDs help. Tech inflation has been happening for a while now for the small minority. I think COVID just caused more people to tap into it because of some of the reasons you listed. So inflation isn’t COVID caused, but the excess market movement is.

Can you clarify what "2x/3x salary increments" means? Are you saying people are tripling their salary? Or do you mean, like, 3x a normal (~3%) raise, or whatever?

Tripling your salary isn't unheard of. It's pretty common to start at $50k, then $100k the next job, and end up somewhere for $200k.

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

#33

Post by lend000 » Sun, Oct 24, 2021, 2:17 AM UTC

I would posit that most of your points are relevant for the economy as a whole, but you are missing inflation, which is probably the 2nd or 3rd most important factor for the economy as a whole (after your number 2 and your first number 3), but the single most important factor for tech workers, who are seeing huge comp increases due to stock packages in an M2 fueled bull market. That, and remote working trends, as you mentioned.

When you can get a 30% raise at a new job and there is too much psychological resistance for companies to give those raises internally, high turnover is inevitable.

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

#34

Post by tested23 » Sun, Oct 24, 2021, 2:18 AM UTC

yadaeno wrote: post #29

Pre-Covid much of my job satisfaction came from the sense of comradery of working on a team. Even as an introvert I enjoy interacting with coworkers, and being intune with the needs of the group and generally helping other people succeed. When we transitioned to full remote, all of this was stripped away and I was left to focus purely on a product that on its own I was not passionate about (think ad-like product). I…

I feel like im reading my own thoughts. The thing that got me into work was the people not the product. I also worked in ads.

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

#35

Post by k4ch0w » Sun, Oct 24, 2021, 2:19 AM UTC

ozzythecat wrote: post #2

I feel my company has had a greater number of departures this year than in past years. But I don’t know if it’s because a competitor is offering higher wages, or if I’m noticing a higher number because everyone decided to stay out last year.

Higher wages. I worked for a Fortune 500 company and got a 85% raise by leaving.

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

#36

Post by oars » Sun, Oct 24, 2021, 2:23 AM UTC

I can see many incompetent/below average tech workers being replaced with offshore workers (e.g. India and Phillipines) once international travel is permitted again.

COVID in countries that supply most of the offshoring has been devastating. Many people from India and Philippines resigning from their roles to move to Western nations to live a better life.

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

#37

Post by heavyset_go » Sun, Oct 24, 2021, 2:23 AM UTC

dreyfan wrote: post #8

Low interest rates -> cheap capital -> lots of tech funding -> lots of jobs.

This was the case before the pandemic.

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

#38

Post by gorbachev » Sun, Oct 24, 2021, 2:26 AM UTC

hcarvalhoalves wrote: post #15

Every tech company was forced into remote working, suddenly now every tech worker is (really) competing on the global job market, and the market is adjusting to the new offer/demand. That’s my theory.

Yes, there are some companies who have changed to fully remote and now hiring people from anywhere. There isn't enough of these companies to make even a small blip in the global job market.

The vast, vast majority of companies are still hiring people locally.

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

#39

Post by laxmin » Sun, Oct 24, 2021, 2:27 AM UTC

oars wrote: post #36

I can see many incompetent/below average tech workers being replaced with offshore workers (e.g. India and Phillipines) once international travel is permitted again. COVID in countries that supply most of the offshoring has been devastating. Many people from India and Philippines resigning from their roles to move to Western nations to live a better life.

One word: Work Visas and Residency Permits.

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

#40

Post by abhaysk » Sun, Oct 24, 2021, 2:28 AM UTC

Almost everyone thinks about their jobs in terms of the people they work with, what that get paid for and sometimes the bigger purpose of their endeavor. Purpose was up until now not the biggest reason. But somehow in the pandemic it's importance in the average employee's mind has grown. Don't know why but I have seen people make career changes. Perhaps it is due to lack of working with people you liked (since everyone is remote).