I believe a more important factor is that the sw engineering job market is still a seller's market. Many large and well-known tech companies still struggle to compete with the tech giants. Even if several of them have frozen hiring.
It is difficult for me to agree with the very popular notion these days that the epoch of employee's choice is now over. Perhaps for FAANG and a few more exceptions. But I have been referring tens of very skilled engineers to my company and I often heard they have accepted other offers. From my perspective, employers must still compete for good talent. Maybe even entry-level talent, although maybe not so much.
I believe a more important factor is that the sw engineering job market is still a seller's market. Many large and well-known tech companies still struggle to compete with the tech giants. Even if several of them have frozen hiring.
It is difficult for me to agree with the very popular notion these days that the epoch of employee's choice is now over. Perhaps for FAANG and a few more exceptions. But I have been referring tens of very skilled engineers to my company and I often heard they have accepted other offers. From my perspective, employers must still compete for good talent. Maybe even entry-level talent, although maybe not so much.