> This is likely to be the recession that halts the rapid inflation in tech wages.
I think the transition to remote combined with the recession will put a damper on high tech salaries. I've already started seeing pressure from our executives to explore more hiring of remote workers to cut costs further.
I'm a remote worker. My company explicitly tells me they like remote workers because we are cheaper than locals (they are based in NYC). My comp is about 20-30% lower than I expect I could get if I had relocated to NYC. It's still more than double anything I could get where I actually live (Salt Lake City).
A FAANG-ish company I am familiar with budgets for salary, not roles. If you're a manager trying to build the best team possible and you think you can do 2x the work by hiring engineers from Nebraska who make 50% what they might in SF, you are stupid not to. For a time there was a rule managers on a particular team couldn't hire from SF or NY for this reason.
I think the transition to remote combined with the recession will put a damper on high tech salaries. I've already started seeing pressure from our executives to explore more hiring of remote workers to cut costs further.