Thread by @TeamBlind

THE GREAT RESET: Over 200,000 people have been laid off in the #tech industry this year, and the flood of new talent has started to change the job market.

Check out Blind's exclusive research - a thread 🧵:

1/ The Great Resignation and the ease of wage hikes when changing jobs may be over.

56% of U.S. professionals said they would accept the same or LESS pay in a new role, per an April 2023 survey by Blind

teamblind.com/blog/index.php…

2/ The perceived weakness of the job market is why many say they're now willing to accept lower pay.

45% cited market concerns—more than those who picked company culture, return-to-office policy, or even the need for a work visa as their top reason COMBINED

3/ SHOCKER: Software #engineers, long one of the most in-demand and well-compensated roles in any industry, started to LOWER their #salary expectations in the summer of 2022, according to Blind.

#Pay expectations have continued to drop in 2022 as #tech #layoffs ramped

4/ Entry-level and experienced software #engineers lowered their #salary expectations at the highest rate, according to an analysis of more than 50,000 active job-seeking engineers in the U.S. by Blind

teamblind.com/blog/index.php…

5/ MORE BAD NEWS FOR SF AND NYC: Engineers in major cities may be the most pessimistic.

Tech pros in SF, NYC and Seattle have dropped their minimum baseline for pay the fastest, according to Blind's analysis

teamblind.com/blog/index.php…

6/ NO MORE #REMOTE WORK DISCOUNT: Engineers are willing to accept lower pay for remote-only jobs.

BUT salary expectations for those seeking remote-only jobs based outside of SF, NYC and Seattle have barely dipped, per Blind's report

7/ Interestingly, Blind's analysis may be UNDERESTIMATING the pessimism of tech professionals.

Engineers are likely padding their reported minimum salary expectations, which might indicate the declines reported may really be larger!

8/ Employers shouldn't take this data as a sign they've successfully wrestled back power from job seekers in the job market.

Instead, companies should understand job priorities have changed among engineers and other tech pros
teamblind.com/blog/index.php…

END/ Get an in-depth look at how software #engineers' #salary expectations and #work priorities have changed on @TeamBlind for FREE:

teamblind.com/blog/index.php…

#RTO #tech #techjobs #SWE #SWEjobs #WFH #workfromhome #remotework #remotejobs #pay #work