Hey 👋
The software engineering market is heating up. VCs and crypto are sloshing money like it's free, companies are vying for remote competition, and even BigTech is offering huge out-of-band raises.
Folks are getting 30%+ compensation bumps just for staying put. That never happens 🤯
How hot is the market for software engineers? Hotter than I've ever seen. Here's proof.
— Gergely Orosz (@GergelyOrosz) November 19, 2021
Dozens of companies have taken an extreme measure: increasing compensation out-of-cycle, during the year, because they see *so* much attrition.
Data on this (thanks for everyone sharing 🙌) pic.twitter.com/DFSXaGhF84
But the market is bimodal, if not trimodal.
Salary gains are going towards senior engineers and technology experts. Folks who can drive the company forward with little to no supervision.
It's like hiring a plumber or going to the hairdresser.
Do you want the plumber who asks you what to do, or the plumber who looks at your issue, makes a plan, and explains how they'll fix it?
At the hairdresser, do you like to carefully explain that your hair should be cut by 0.5in in the front and 0.7in on the back, oh and make it 1.5in shorter on the side ... oooooor do you like to say "You know hair, make me look good"
Now imagine this plumber or hairdresser was a software engineer and you're making a $700,000+ investment over 4 years. Who do you hire?
🤔
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