Why are people leaving their jobs?... for the same reason the 1% is increasing wealth at compounding rates and the 99% have had stagnant wages for decades. (accounting for inflation in housing, healthcare and education)
Poll: Why are people leaving their jobs?
581–590 of 773 posts
Re: Poll: Why are people leaving their jobs?
#582Earlier quoted context omitted.
Marginal value of money decreases the more money you have as consumption doesn't really scale up. Easily one should take a nice 500k/year job vs a stressful 600k/year job.
Most people aren't in a position where their choice is a nice 500k/year job versus a stressful 600k/year job thought.
The OP was explicitly talking about people making >>100k. At any rate, 5-600k is a staff/principle swe at a lot of tech companies, or even just a senior in some. Given this forum I am guessing that’s not an insignificant percentage of readers.
Re: Poll: Why are people leaving their jobs?
#583I read a review of the book "Becoming Trader Joe" by Joe Coulombe who founded the Trader Joe's supermarket chain. One of the very smart things he did was understand how expensive turnover is, so he oriented the company around keeping his employees motivated to stay.
Re: Poll: Why are people leaving their jobs?
#584Earlier quoted context omitted.
Because I'm trying to start a family and to move into a bigger house, and I knew that there were little to no opportunities for advancement/promotion at my current job. It's really not that complicated.
You were unhappy there were no advancement opportunities so you started looking?, OP is saying the same thing, if it was perfect people generally don't look for new jobs. It is not because of loyalty it is because we are risk averse, a new job is a lot of risk. Many things can go wrong you may not like that new job, or even purely financially it can be risky as a new company may not pay as promised, shutdown, you get…
If I could have stayed doing the same thing I was (software development) for more pay I would have stayed. Might have gotten a bit stagnant/boring in a few more years but I would have been happy until then at least. The only potential advancement opportunity (salary-wise) would have involved changing over to being a DBA or a sort of DBA/developer hybrid role which would have been interesting (I would definitely prefer the hybrid role to being a pure DBA) but some statements from higher-ups about hiring freezes etc. made it clear that wouldn't happen any time soon (even though my direct manager was supportive and trying to help).
Re: Poll: Why are people leaving their jobs?
#585What you are seeing here with the labor market is essentially the same thing we are seeing with real estate. It is a liquidation and recapitalization into a higher asset class. People selling their homes, cashing out and using their equity to get a larger home with a larger basis for appreciation. Similarly for the labor market, employees taking their experience and recapitalizing into other roles with better benefit…
> See amazons de facto policy of give the top tier best benefits, raised and comp and to hell with the rest.
I think the last part of that is really important.
Your comment made me think back to 2002 when I was playing a game called Diablo II. I used to substantially overpay for things because the things I were buying helped me make 10x the amount I was investing (all in game currency). I didn't care that I was buying things for 2-3x what others were offering to pay.
Salary and the value you produce (direct or indirect) is the same deal. If an employee generates a million dollars of value a year, paying them 300k instead of 150k is still one of the best investments you can ask for -- especially if you amplify this to 10 developers. Now you're talking about making 10 million dollars while only "overpaying" 1.5 million. That's a ~6.5x return.
Re: Poll: Why are people leaving their jobs?
#586A mix of a few things really: - All the coworkers who I was more friendly with left the team/company and now I've been feeling completely detached from the team. - the stock run-up has provided me with a (false?) sense of more financial independence. - a handful of life crisis with a dash of imposter syndrome. Zero idea what I want to be doing with my life but being stuck as low level IC for a long time is hurting my…
stock run-up? Hasn't the market been sideways since November (Asking for my own edification/portfolio)?
Re: Poll: Why are people leaving their jobs?
#587Earlier quoted context omitted.
I think the old generation really bought into this, but the new generation knows it's a load of bull. The poll makes it pretty obvious that compensation is the biggest reason folks leave, and it's the thinking of the old generation who doesn't know how to retain talent (they do, but they keep throwing pizza parties / sending out merch instead). It's a real "it can't be helped" mentality around retention.
I do find it surprising compensation is at the top. I've never changed jobs over money. In fact several times I've taken new jobs that pay less on the promise of it being more fun. Which is not to say I'll work for unreasonably low pay, I talk comp ranges with recruiters first to know if it is worth continuing the discussion. But beyond a reasonable point, more pay doesn't make any difference (well, unless it's like…
"I've never changed jobs over money" and "+/- 100k"... lol, you're in a very, very different position than most of us if "+/- 100k" isn't a fundamentally life-changing kind of +/-.
Re: Poll: Why are people leaving their jobs?
#588Earlier quoted context omitted.
What sort of stuff are you doing? I’ve been in the blockchain space for three years and enjoy the work. HN hates any mention of it though - you’re better off using other mediums for decent conversations on the topic.
I'm currently rebuilding my website and swapping as much of the tech stack for web3, the tech has really come a long way.
what are you swapping?
Re: Poll: Why are people leaving their jobs?
#589After roughly 7 hours, comp is in first place and has more votes than 2 and 3 combined.
Re: Poll: Why are people leaving their jobs?
#590[deleted]