I like this title, it’s not clickbaity at all, but I still want to read it when I see it.
I think I know why you can't hire engineers right now
81–90 of 927 posts
Re: I think I know why you can't hire engineers right now
#82Earlier quoted context omitted.
"that can get them retired easily by their mid 30s" Maybe a small subset. The median dev salary is $110k. So no, only a very small number are able to retire in their 30s.
The absolute value of your salary doesn't tell you anything about how long it takes to get to retirement (or more accurately, financial independence). That's exclusively a function of your spending and saving rates. https://www.mrmoneymustache.com/2012/01/13/the-shockingly-si...
The absolute value of your salary does highly correlate with cost of living, unfortunately. Which may have an effect on your savings rate.
Re: I think I know why you can't hire engineers right now
#83There comes a point where the money just isn't a motivating factor anymore, and companies are struggling to figure out how to work in that environment. This bit from the author hits the nail on the head: >Is an extra $10k per year worth learning a new org, a new skillset, a new set of expectations, a new set of coworkers, and a new boss? For many engineers, the answer is: “No.” Yes I could quit and get a ~20k raise b…
The interesting bit with covid is there are a lot fewer opportunities to spend that money, or opportunities that are less enjoyable.
Re: I think I know why you can't hire engineers right now
#84What is CosmosY?
Re: I think I know why you can't hire engineers right now
#85First two points are way too heavy on "Eln Msk" as an illustration, could have easily written just as compelling (better?) argument without going that extreme early on.
Re: I think I know why you can't hire engineers right now
#86On the one hand, the largest tech companies are bigger than ever and still growing, and they set the market rates with a combination of high salaries and liquid stock. If you're incredible, you can go work there.
On the other hand, there is more money floating toward more startups than ever, across every imaginable industry. They all need people.
Taken together, demand is through the roof, and the massive companies are pulling salaries up as someone senior or higher could ostensibly get a job there vs. your random Series A-C startup.
If you can't pay top dollar, you are in the zone described by the author. You need to offer whatever a particular candidate is after: respectable salary; a chance to own some massive new development area; a chance to go deep on a set of technologies; and/or a schedule that supports their lifestyle.
Re: I think I know why you can't hire engineers right now
#87The article is concise but missing a lot of real-life examples:
* The highest paying software companies employ LeetCode style interview. That is off-putting to a lot of people even though the money would be super sweet to have.
* Some wannabe startups also employ LeetCode style interview even though they don't pay anywhere near FAANG/Unicorns.
* You know what's worst than LeetCode style interview? LeetCode style interview with really long rounds. It's super off-putting to be tossed around for weeks.
* You know what's even worse than that? Lowball offer after completing the entire circus.
* PIP culture is scary and it's hard to judge if the new company have it or not, except Amazon. We all know Amazon has PIP culture.
* Long hour culture is not desirable and hard to judge. What's the point of making 20% more if you ended up working 40% more?
Re: I think I know why you can't hire engineers right now
#88Earlier quoted context omitted.
"that can get them retired easily by their mid 30s" Maybe a small subset. The median dev salary is $110k. So no, only a very small number are able to retire in their 30s.
The absolute value of your salary doesn't tell you anything about how long it takes to get to retirement (or more accurately, financial independence). That's exclusively a function of your spending and saving rates. https://www.mrmoneymustache.com/2012/01/13/the-shockingly-si...
Simple is not easy. The vast majority of people like to spend.
Who can blame them? You can take your money to your grave, but what use is it then?
Re: I think I know why you can't hire engineers right now
#89Earlier quoted context omitted.
"that can get them retired easily by their mid 30s" Maybe a small subset. The median dev salary is $110k. So no, only a very small number are able to retire in their 30s.
The absolute value of your salary doesn't tell you anything about how long it takes to get to retirement (or more accurately, financial independence). That's exclusively a function of your spending and saving rates. https://www.mrmoneymustache.com/2012/01/13/the-shockingly-si...
Salary is the absolute ceiling for savings rate, so I'd say it's a big factor.
Re: I think I know why you can't hire engineers right now
#90Earlier quoted context omitted.
The absolute value of your salary doesn't tell you anything about how long it takes to get to retirement (or more accurately, financial independence). That's exclusively a function of your spending and saving rates. https://www.mrmoneymustache.com/2012/01/13/the-shockingly-si...
Simple is not easy. The vast majority of people like to spend. Who can blame them? You can take your money to your grave, but what use is it then?
There's also the fact that most people have to spend. Build your own house? Grow your on food? Most people are buying those.