Soundtraveler in
Economic Downturn
What is your opinion on how a US economic downturn and rising fed interest rates will affect tech compensation packages? Will they stay the same, go up, or decrease even if stock prices and company market caps go down?
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6ym891ukphg5xkqSoftware Engineer
Hard to say for sure what will happen, but my theory is that compensation will actually continue to diverge between junior and senior ICs. Companies will cut headcount and new grads will struggle to get jobs. But senior talent will be more lucrative than ever, and compensation for experienced candidates will continue to increase significantly.
But of course expectations will also increase, and companies will be more comfortable letting people go.
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jinyung2Software Engineer
Is this similar to what happened during the earlier period of COVID? I remember companies had hiring freezes, but it seemed like it was concentrated around less experienced positions.
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