Hi,

I have been hearing from some recruiters that due to mass layoffs in the last 2-3 months, there has been a clear shift in the compensation offered to the new hires - it has decreased. The reason is too many unemployed skilled people for not so many jobs, especially who are on visa.

Can recruiters and people in hiring roles comment how true this is? How much of a reduction in base pay - 5%, 10% or x% has been there? How to come up with numbers 1) to pitch and 2) actually know your worth, during negotiations as levels.fyi data might be quite higher for current salary trends?

Scope of roles I am looking at is something like senior R&D Engineer, L4 software developer.