Tech workers are voicing their concern about whether six-figure salaries are becoming a thing of the past. Last week, Blind, an anonymous job platform, hosted a poll asking how people felt about whether the tech industry will still support the astonishingly high payouts of up to $500,000 that were popular a few years ago.
The poll yielded over 14,000 responses with a slight majority of 51.5% of votes agreeing that it was in fact the end of an era. Blind users who are confirmed to be employed by major tech firms such as Oracle, Amazon, and Twitter, shared their views on the matter as well. One user from Amazon stated that hefty salaries are still possible, but unreasonable overpaying is no longer happening. In fact, somebody at Twitter reported receiving multiple offers in excess of $1.1 million in total compensation.
On the other hand, not everyone is sure. A Tractable employee suggested that high salary expectations might decrease due to a high supply of tech talent and limited demand. There is also the growing sophistication of AI capabilities to consider, with Microsoft employee and other users suggesting that some roles may be replaced in the process.
Many major tech companies such as Meta, Microsoft, and Google have faced heavy layoffs this year, which has also caused recruiters and tech workers to worry if salaries will drop. There is evidence that as part of the downsizing changes, new hires will earn less than those who were laid off.
Oracle, Amazon, and Twitter are all known for their expansive digital spaces and forward-thinking propositions. Oracle, founded in 1977, is a multinational computer technology corporation that provides business software and enterprise hardware, and supports cloud-based services. Amazon is the world’s largest online market place and cloud computing platform that offers a bevy of services ranging from video streaming to web hosting. Twitter is a popular microblogging and social media platform with millions of user base, globally.
The user who initiated the Blind poll, who works for Oracle, also received plenty of attention. They highlighted that between 2019 and 2022, program managers in the company were making a total compensation of $500,000 while software development engineers were earning $350,000 and recruiters were making $200,000. This has made people wonder if a rebalancing of salaries back to the 2015 levels is in the cards.
Tech workers are feeling uncertain about whether their salaries will remain high as extraordinary fortunes were previously commonplace in the industry. It will be interesting to watch how the market develops in the coming months and how the decisions from tech leaders will reflect on the salaries of their employees.
