| As a hiring manager for a relatively small company, a major problem is misaligned salary expectations. Real world example: I recently interviewed an engineer hit by layoffs at Shopify/UPS. The candidate had 4 years of total work experience, and was making $175k in the role that she was let go from, and they won’t accept anything less when looking for a new role. With 4 years of total experience in the workforce. I would have loved to hire them at $120-140k, but for $175k I can easily find people with 5x more years of experience. It’s a tough pill to swallow but it is possible to get offers, but they might not be at the salary levels from 2-3 years ago. Edit: Above anecdote is for 100% remote in US. Full stack node/react/mongo. Edit 2: Another anecdote to share. The recruiter our company works with (who sources all our candidates) used to only work on a 25% commission of first year salary. About a year ago we were able to negotiate that down to 20%. And a couple months ago we negotiated it down to $90/hr with 0% commission (which comes to roughly 10% or less of first year salary on average). The market for engaging recruiters is a good proxy for the overall supply/demand of the job market. |
This goes both ways. People teams will prefer to pay less than they have before, and engineers should usually ask for more than they currently make.
Anecdotally as a hiring manager, I would always encourage folks to have savings to cover the time it takes to avoid settling for lower salaries if they lose their role. The folks not making that much already should be moving up to those “lower paying” positions.