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Ask HN: Is there a bubble in the tech market? Is it about to explode?

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11–20 of 52 posts

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#11

I live in a European country and our salaries will not go down nor do I expect any layoffs. Your question is very US/Silicon Valley centric.

Europe is in for a very long decline. There is no consumer generation (35-45 y/o) left in Europe, and the US is about to block Europe from exporting their excess production to the last standing consumer generation on the planet.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#13

In London at least. Tech companies dislike the fact there aren't enough engineers to fill roles which has led to a few things. 1. Permanent salaries on the increase that also has a trickle down effect on other related IT roles. 2. A healthy contracting market with rates steadily increasing despite IR35. Contractors are deciding what they'll be paid and are still be lapped up. Nothings worse then a late or undelivered…

Also noticing this - very hard to find software engineers in the UK right now. Apparently we have a major skill shortage[1] - which I'm not surprised by, given how little CS/coding was pushed in schools 5-10 years ago.

[1]https://www.bbc.co.uk/news/technology-62098767

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#14

I live in a European country and our salaries will not go down nor do I expect any layoffs. Your question is very US/Silicon Valley centric.

Europe is in for a very long decline. There is no consumer generation (35-45 y/o) left in Europe, and the US is about to block Europe from exporting their excess production to the last standing consumer generation on the planet.

Which one?

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#15

In London at least. Tech companies dislike the fact there aren't enough engineers to fill roles which has led to a few things. 1. Permanent salaries on the increase that also has a trickle down effect on other related IT roles. 2. A healthy contracting market with rates steadily increasing despite IR35. Contractors are deciding what they'll be paid and are still be lapped up. Nothings worse then a late or undelivered…

Curious what a typical top 10% contracting rate in London is?

London based contractor here. It's sort of hard to say since rates keep going up. My gut feeling is 700 outside/850 inside would put you in the top 10%.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#16

In London at least. Tech companies dislike the fact there aren't enough engineers to fill roles which has led to a few things. 1. Permanent salaries on the increase that also has a trickle down effect on other related IT roles. 2. A healthy contracting market with rates steadily increasing despite IR35. Contractors are deciding what they'll be paid and are still be lapped up. Nothings worse then a late or undelivered…

Previously Londoner for ~8 years here. I can confirm the six month unfilled position period has been going on for at least a few years now.

If anything else, and at least on the high(ish) end of skill and seniority there's an artificial reverse bubble that I can only attribute to the almost pathological and almost allergic insistence of UK employers to have as few well paid employees as possible.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#17

I live in a European country and our salaries will not go down nor do I expect any layoffs. Your question is very US/Silicon Valley centric.

What? The European economic outlook is substantially more dire than in the US. The knock-on effects of EUR depreciation alone will be massive.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#18

In London at least. Tech companies dislike the fact there aren't enough engineers to fill roles which has led to a few things. 1. Permanent salaries on the increase that also has a trickle down effect on other related IT roles. 2. A healthy contracting market with rates steadily increasing despite IR35. Contractors are deciding what they'll be paid and are still be lapped up. Nothings worse then a late or undelivered…

Curious what a typical top 10% contracting rate in London is?

Cloud/Security Operations usually hit 600-1k. Higher end of this would be government contractors that need to pass through stringent/strict security clearance ie. UK nationals etc. Even some non-gov contracts want SC sponsorship because end client will usually have sensitive customer data.

You can see market trends by looking at reports published on the top 5 UK IT recruitment websites (usually published every 6 months), ITJobServ is a good site too for real time trends.

Re: Ask HN: Is there a bubble in the tech market? Is it about to explode?

#20

In London at least. Tech companies dislike the fact there aren't enough engineers to fill roles which has led to a few things. 1. Permanent salaries on the increase that also has a trickle down effect on other related IT roles. 2. A healthy contracting market with rates steadily increasing despite IR35. Contractors are deciding what they'll be paid and are still be lapped up. Nothings worse then a late or undelivered…

Also noticing this - very hard to find software engineers in the UK right now. Apparently we have a major skill shortage[1] - which I'm not surprised by, given how little CS/coding was pushed in schools 5-10 years ago. [1] https://www.bbc.co.uk/news/technology-62098767

How is it that Silicon Valley is in America, when we have so many net-savvy tech-heads here. They may have the silicon chip, but we have the silicon chap, and of course, chapesses
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