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Employers bow to tech workers in hottest job market since the dot-com era

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Re: Employers bow to tech workers in hottest job market since the dot-com era

#141

Post by mmaunder »

dbish wrote: post #4

Even if you think you’re well paid, now is the time to look around. I’ve had a lot of friends, mentees, and coworkers get huge bumps on total compensation even as relatively senior engineers and managers. Pay is jumping and companies aren’t doing a great job keeping that up for their people who have been around for a few years. As an employer, that should be the top worry, keep comp up, don’t lose your people because…

Exactly this. We just gave all our devs a significant raise - way above the norm, and way way earlier than we would. We're acknowledging the reality of demand, scarcity and wage inflation. My co-founder (also my wife) and I immediately felt our blood pressure drop once we did that.

Market conditions are making it hard to retain and very hard to hire. We've done a bunch of other stuff to recruit - which I described in another comment here - and it's making a huge difference. Employers who don't respond to these market conditions are in for a rough ride.

Re: Employers bow to tech workers in hottest job market since the dot-com era

#142

Post by jseliger »

throwawaysleep wrote: post #19
dbish wrote: post #4

Even if you think you’re well paid, now is the time to look around. I’ve had a lot of friends, mentees, and coworkers get huge bumps on total compensation even as relatively senior engineers and managers. Pay is jumping and companies aren’t doing a great job keeping that up for their people who have been around for a few years. As an employer, that should be the top worry, keep comp up, don’t lose your people because…

For those of you who have done this, how do you maximise your compensation? Tips appreciated.

https://www.kalzumeus.com/2012/01/23/salary-negotiation/

(I've not done this as such, but I'm a technical writing consultant and the way you get more money from clients is similar.)

Re: Employers bow to tech workers in hottest job market since the dot-com era

#143

Post by paulpauper »

yup, similar the 2008 financial crisis, the biggest losers of the Covid crisis and its recovery are the untalented, whose jobs are pay little and are replaceable and interchangeable like cogs. And the biggest winners, similar again to the post-2008 recovery, are the talented, whose wages exceed inflation and whose contributions are valued and are harder to replace.

Some tech jobs may feel like a dead-end, but better than low-paying and dead-end retail/service jobs.

Re: Employers bow to tech workers in hottest job market since the dot-com era

#145

Post by surajama »

gentleman11 wrote: post #112
dbish wrote: post #46

Earlier quoted context omitted.

Don’t use Glassdoor for tech. They are almost always incorrect since they are salary focused. Use levels.fyi which understands total compensation

That site names salaries almost 50-100k higher than what I see on other salary sites in Canada. Does the site only aggregate top paying companies, or is the Canadian tech sector actually way more robust than I thought?

The Canadian tech sector has completely changed over the past 5 years (which is when I first came to Canada). When I first got here, $100k+ salaries were rare unless you were very senior or at a select few companies. I am now looking for a job in Toronto after working for a FAANG for a few years and often see companies offering over $200k for mid-level positions. However I will say that level.fyi is a little unrepresentative because it's mainly people with impressive TCs posting on there.

Re: Employers bow to tech workers in hottest job market since the dot-com era

#146

Post by gavinray »

tcbumperino wrote: post #83

Once you’re coasting in the 400-500k FAANG range, what’s the optimal move to get 700-800k+? Seems there are too many graybeards to get a Principal title. Better to switch to manager role? Or VP eng type at some startup and hope your stock hits? Or maybe VP at some non tech company?

What kind of a fairy tale is this -- 400, 500, 800k?

I make ~110k, and I have no hobbies but code + contribute to a variety of OSS projects in my freetime.

What sort of software do you have to be writing besides magic money printing machines for it to be worth that amount of money?

Re: Employers bow to tech workers in hottest job market since the dot-com era

#147

Post by nemo44x »

chrisseaton wrote: post #18
derwiki wrote: post #2

> But now, these technical interviews are often being waived Huh? First I’ve heard of that

At a certain level of seniority people get the 'white glove' treatment where the interview is more about convincing them to take the job. Makes sense to me - if someone already has a reputation and track-record, and it's you that reached out to them, then why are you asking them to prove themselves to you? Most important thing is to prove yourselves to them!

Experience and reputation play a big part in this too. As your colleagues branch off to other opportunities they’ll bring your name up when the new company is looking to fill a role. At this point you’re being contacted by VP’s or Directors to gauge your interest.

Re: Employers bow to tech workers in hottest job market since the dot-com era

#148

Post by the_only_law »

gavinray wrote: post #146
tcbumperino wrote: post #83

Once you’re coasting in the 400-500k FAANG range, what’s the optimal move to get 700-800k+? Seems there are too many graybeards to get a Principal title. Better to switch to manager role? Or VP eng type at some startup and hope your stock hits? Or maybe VP at some non tech company?

What kind of a fairy tale is this -- 400, 500, 800k? I make ~110k, and I have no hobbies but code + contribute to a variety of OSS projects in my freetime. What sort of software do you have to be writing besides magic money printing machines for it to be worth that amount of money?

> What sort of software do you have to be writing besides magic money printing machines for it to be worth that amount of money?

My understanding is that you have to get into FAANG or be in certain roles at certain HFT firms. I’m also pretty sure these are TC numbers are large chunks of those numbers are stock options.

Re: Employers bow to tech workers in hottest job market since the dot-com era

#149

Post by lostcolony »

onlyrealcuzzo wrote: post #84
stickyricky wrote: post #79

Any tips on getting a remote FAANG SWE job? Is it really all LinkedIn profile + attracting a recruiter?

Get a referral from someone who works at the companies.

That might get you a recruiter call, but it's not at all helpful in actually getting the job.

Best thing is to build a solid LinkedIn profile. I've had multiple FAANG recruiters reach out in the past based on my LinkedIn profile, but my own applications have never received attention.

Re: Employers bow to tech workers in hottest job market since the dot-com era

#150

Post by throwanem »

Macha wrote: post #135
throwanem wrote: post #22

> He likened it to what’s happening in the real estate market. In other words, make your moves now, and with an eye toward the crash that's coming.

Alternatively, being the most expensive and newest might be a poor position to be in when the crash comes?

You always want to pick your risks with care, sure. I didn't say that earlier in so many words because I assume it doesn't need saying, but if it does, now it has been.

If where you are is stable, you can expect it to stay that way through a crash, and you're at least confident of being able to come out of it when things settle down again not looking like you've been standing still, maybe don't make a move at all.

But if you're already thinking of doing that, it's not wise to assume you have unbounded time in which to act, or that said bounds are as broad as they ordinarily would be.

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