[nvarsj]

I think the main change happening now is tech salaries are going to be coming down. There is intense pressure from investors on big tech to lower expenses - and a lot of that is what investors think are overpaid engineers. Rate of operating expenses has increased far faster than revenues.

So, hiring is frozen, layoffs will be happening and PIP quotas are increasing (e.g. GRAD at Google). Top end demand is shrinking and that will push compensation down industry wide.

I think you are fine as long as your expectations are tempered. There are still plenty of places hiring without big tech salaries.

[b20000]

so is the cost of living in california coming down then?

[nvarsj]

Good question... I think there will be less demand for the high house prices/rent. But there are a lot of other factors, like high inflation.

[b20000]

Realtors control the pricing, and will continue to drive the prices up. The state profits via excessive property taxes, so they are in the same camp as the realtors.

The compensation in FAANG is what is required to have a normal and comfortable lifestyle in California. So no, it is not "ludicrous" as some people are claiming.