Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

“Great resignation” wave coming for companies

axios.com

Post reply on HN
Print view View original

511–520 of 1001 posts

Re: “Great resignation” wave coming for companies

#511

Post by dmlittle »

vmception wrote: post #495
lordnacho wrote: post #52

I can tell you all the market for devs is white hot at the moment. I mean it was never cold, but right now seems to be insane. If the work-from-home thing has given you thoughts about what you like, now is the time to go. I see very few firms insisting on onsite work though, having interviewed with quite a few over the last few weeks. Even guys that I know would rather have people in the office and would pay them ver…

Levels says E-7’s at Facebook get a nearly $1,000,000 compensation package A) Is this annual? As in their unvested RSUs are nearly 4x this amount B) This is not accounting for stock price appreciation? or do I have it entirely wrong. Two years ago on Blind I could tell people were discussing their compensation packages in wildly differing ways. It was impossible to tell if people were discussing if they signed an off…

As someone who recently interviewed (although not at Facebook) the number is the _annual compensation package at the time they signed their offer_ (it includes base salary + annual stock grant + bonus). If someone got $1,000,000 in annual compensation 2 years ago, the stock portion per year will likely be larger now due to appreciation of the stock. These numbers are crazy high and before I interviewed this time around I was somewhat skeptic of how real these numbers were outside of a few outliers but now I'm pretty sure it's pretty common.

Re: “Great resignation” wave coming for companies

#512

Post by Volrath89 »

rubicon33 wrote: post #481
aurelianito wrote: post #425

Earlier quoted context omitted.

Not the original commenter, but this is the situation in Argentina. I would love to do a remote gig and get 100k a year. I am a programmer with over 20 years of experience and I can program professionally in over 10 different programming languages.

It is worth noting that software salaries are artificially inflated HEAVILY due to a general unwillingness or lack of interest in hiring overseas developers. The second this changes, the bottom drops out of software. I don't know if it will ever happen that big companies begin openly accepting overseas applicants but if/when it does, you can expect that it wont be for 100k. Suddenly when you consider the entire plane…

I'm located in Colombia, and all my developers friends/acquaintances that speak English are already working for US companies. Some of them earning 100k+, but most of them earning about 50-70k.

I'd say there is not a general unwillingness to hire overseas developers, on the contrary, if more people could speak english in south america US companies would be more than happy to hire even more here.

There is a shortage in english speaking developers globally, but not a shortage on companies' interest in hiring anywhere

Re: “Great resignation” wave coming for companies

#513

Post by Mauricebranagh »

Goronmon wrote: post #320
baron_harkonnen wrote: post #245

Earlier quoted context omitted.

> A "gap year" as an adult can make you radioactive to potential employers. I'm not sure where you got this idea in your head but it is demonstrably false in tech right now. I took a gap year after getting fired from an extremely toxic company. I didn't want to rush into a new role right away after such an awful experience. Once I was ready to go back it took ~1 month to go from starting my search to signing an offer…

I interviewed at a large range of companies and was pretty picky after my previous experience. I wonder, realistically, how many people out there actually get to be "pretty picky after my previous experience"?

I did when my previous place made me redundant, I didn't need to jump into the first job and I could claim unemployment whist waiting to.

It well be more experienced people though and you will need enough $ to do this.

Re: “Great resignation” wave coming for companies

#514

Post by baccheion »

screye wrote: post #263

> Surveys show anywhere from 25% to upwards of 40% of workers are thinking about quitting their jobs. This number is meaningless without previous year trends. In my circles, everyone from 25-35 is simultaneously preparing to FIRE and no-one that's 35+ has actually changed jobs despite being 'financially independent'. Expressing intent to resign, and actually resigning are completely different things. (edit: to clarif…

I wonder if they really think the powers that be will allow them to retire early. Most will be working until 75+, unless the socialism/automation conspiracy theory comes to fruition.

Re: “Great resignation” wave coming for companies

#515

Post by Epenthesis »

the_gastropod wrote: post #397
screye wrote: post #263

> Surveys show anywhere from 25% to upwards of 40% of workers are thinking about quitting their jobs. This number is meaningless without previous year trends. In my circles, everyone from 25-35 is simultaneously preparing to FIRE and no-one that's 35+ has actually changed jobs despite being 'financially independent'. Expressing intent to resign, and actually resigning are completely different things. (edit: to clarif…

> In my circles, everyone from 25-35 is simultaneously preparing to FIRE and no-one that's 35+ has actually changed jobs despite being 'financially independent'. I think your circles are rather unusual, if this is true. A $900k net worth is in the 99th percentile for 30-34 year olds and 95th percentile for 35-40 year olds in the US ( https://dqydj.com/net-worth-by-age-calculator-united-states/ ) Even among my anecdot…

Of course it's unusual. If you're in SF and work in first tier startups/FAANG, your social circle is going to be mostly people in similar situations. It's a very unusually high earning and unusually rapidly high earning career path.

I would be shocked if in that specific cohort the median net worth at 30 was less than 500 k$. And if less than 1/10 were millionaires at 30.

Re: “Great resignation” wave coming for companies

#516

Post by wallacoloo »

revel wrote: post #442
jason0597 wrote: post #334

Earlier quoted context omitted.

> In my circles, everyone from 25-35 is simultaneously preparing to FIRE It's still shocking to me how "chill" this is. "Oh yeah, I'm about to FIRE, no big problem". Achieving FIRE is such a mind blowing concept to me, Let alone at 25-35!!! Where I live we don't have fat six figure salaries flying around allowing us to accumulate a chunky ETF portfolio to live off of. Be grateful for what you have achieved! > Suddenl…

Just a warning to those planning to do this: you are taking an incredible risk with your future that I think is undervalued. Circumstances beyond your control can make your plans financially unviable and by retiring so early you have absolutely no room for error. All it takes is one change in health or a regulation for your whole plan to be instantly invalidated. For those that have the ability and the desire to reti…

I don’t know enough about the capital-FIRE group, but any techies around me who want to “retire” early in reality want to go back to just treating tech as a hobby. I think there’s a subtly different “financial independence so I can quit working for the big guy” mentality that gets lumped into the FIRE acronym, even though in this version people are likely to retain skills and connections that should in theory give them some edge if they ever need/want to go back.

But yes: risk is always a part of the game.

Re: “Great resignation” wave coming for companies

#517

Post by vidarh »

throwaway894345 wrote: post #499
vidarh wrote: post #441

Earlier quoted context omitted.

The vast majority in Sweden pays nothing like "65% tax rate + 25% vat", though. To get to that tax rate you need to earn far above average. Someone who is single with no child earning 167% of an average wage pays ~35% income tax and social security contributions [1]. The effective VAT also for most ends up far lower as a proportion of income, as most people don't spend anywhere near their whole income on VAT-rated pr…

> The vast majority in Sweden pays nothing like "65% tax rate + 25% vat", though. To get to that tax rate you need to earn far above average. First of all, the OP is including the social security tax in the 65% figure. But more importantly, arguing that "the average Swede doesn't pay that much in tax" isn't very consoling for the American who would have to (1) take a salary hit to live in Sweden and (2) have to pay t…

The numbers I quoted also include the social security taxes (I edited to make that clear, so apologies if you replied before I made that edit). Swedish marginal rates certainly are among the highest in Europe, but the proportion who pay that much is tiny.

And yes, there are people who will end up paying more, and it sucks for them.

The point is there's always this scaremongering about tax rates when it comes to Europe, and most of the time the tax rates that comes up are marginal rates that are not at all representative.

Re: “Great resignation” wave coming for companies

#518

Post by [deleted] »

revel wrote: post #442
jason0597 wrote: post #334

Earlier quoted context omitted.

> In my circles, everyone from 25-35 is simultaneously preparing to FIRE It's still shocking to me how "chill" this is. "Oh yeah, I'm about to FIRE, no big problem". Achieving FIRE is such a mind blowing concept to me, Let alone at 25-35!!! Where I live we don't have fat six figure salaries flying around allowing us to accumulate a chunky ETF portfolio to live off of. Be grateful for what you have achieved! > Suddenl…

Just a warning to those planning to do this: you are taking an incredible risk with your future that I think is undervalued. Circumstances beyond your control can make your plans financially unviable and by retiring so early you have absolutely no room for error. All it takes is one change in health or a regulation for your whole plan to be instantly invalidated. For those that have the ability and the desire to reti…

[deleted]

Re: “Great resignation” wave coming for companies

#519

Post by aerosmile »

Remember how everyone predicted a baby boom in 2021 and instead we saw a 8-10% decline in birth rate [1]? It turns out that while people had more time to focus on their families, the financial uncertainty had a greater impact on their family planning decisions. The same thing happened in 2009 - there's a close link between the birth rate and recessions [2]. While I don't doubt that many people will change their jobs to better fit their life styles, I doubt that we'll end up with as big of a dip in total employment due to resignations (jobs will just shift from some companies to others).

[1] https://www.nbcnews.com/health/health-news/expected-covid-ba...

[2] https://www.pewresearch.org/social-trends/2010/04/06/us-birt...

Re: “Great resignation” wave coming for companies

#520

Post by ragnarok451 »

throwaway894345 wrote: post #186
samvher wrote: post #134

Earlier quoted context omitted.

I guess we have different social circles, but I know many people who have done this and none of them are "trust fund crowd". Have done it myself for multiple half-year-or-so periods as well. Maybe it's more of a European thing to do. I spent 3 months as a research assistant in Australia and used savings from that period to travel in South-East Asia and South America for 6 months or so. Shortly after graduating, havin…

> Maybe it's more of a European thing to do. Yeah, for Americans it means buying health insurance which is quite a lot more expensive than what you get from your employer.

If you live in NY or CA (not sure about other states) and are under retirement age, Medicaid is a thing and works great. No asset limit, just income, so regardless of what you've saved you're likely eligible - so you can quit your job and without paying COBRA things will be ok
Post reply on HN