<story><title>Tech sector Salaries have fallen up to 15 per cent as fired talent floods market</title><url>https://www.afr.com/technology/tech-workers-take-20-000-plus-pay-cuts-as-fired-talent-floods-market-20230824-p5dz4o</url></story><parent_chain><item><author>pj_mukh</author><text>This person will never be convinced, but for anyone else reading, Australia (and Canada, and America) uses migration to ward off a population time bomb [1] not to “keep wages low”.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.macrotrends.net&amp;#x2F;countries&amp;#x2F;AUS&amp;#x2F;australia&amp;#x2F;birth-rate&quot; rel=&quot;nofollow noreferrer&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.macrotrends.net&amp;#x2F;countries&amp;#x2F;AUS&amp;#x2F;australia&amp;#x2F;birth-ra...&lt;/a&gt;&lt;p&gt;EDIT: sorry didn’t meant to be dismissive of the person above, but usually this topic hits way too personal for people to change minds online (see: comments below). For any passers by genuinely curious exhaustive data reviews are available [2].&lt;p&gt;Tl;dr: Immigration does not depress wages.&lt;p&gt;[2] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.noahpinion.blog&amp;#x2F;p&amp;#x2F;repost-why-immigration-doesnt-reduce?utm_source=substack&amp;amp;utm_medium=email&amp;amp;utm_content=share&quot; rel=&quot;nofollow noreferrer&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.noahpinion.blog&amp;#x2F;p&amp;#x2F;repost-why-immigration-doesnt-...&lt;/a&gt;</text></item><item><author>RachelF</author><text>Australia also relies on migration to keep wages down. This was paused during Covid, so there is more supply of people now.</text></item><item><author>LapsangGuzzler</author><text>I think a similar effect is seen in the US. Perusing the (notably fewer) recruiter emails I’ve gotten lately, they’re almost all below my current pay. Contrasted with a year ago, probably 30-40% of cold recruiter outreach were for higher paying gigs than my current job.&lt;p&gt;I’m also seeing developers with killer resumes complaining in community slack channels about not even getting called back for follow-up interviews. These are people that I would’ve cleaned up in referral fees back when the market was hot. Times have definitely changed.&lt;p&gt;It’s clear that the tech industry and engineering pay flourished under low interest rates and free flowing VC money. Those days are clearly behind us, at least for now.</text></item><item><author>photonbeam</author><text>Note: in australia</text></item></parent_chain><comment><author>analognoise</author><text>Isn&amp;#x27;t this confusing cause and effect? Fewer people are having children because it is harder than ever to afford a family, not because the locals have decided passively not to continue on.&lt;p&gt;Immigration absolutely depresses wages - if you import more supply, what happens to the price? That doesn&amp;#x27;t require advanced economics to understand.</text></comment>
<story><title>Tech sector Salaries have fallen up to 15 per cent as fired talent floods market</title><url>https://www.afr.com/technology/tech-workers-take-20-000-plus-pay-cuts-as-fired-talent-floods-market-20230824-p5dz4o</url></story><parent_chain><item><author>pj_mukh</author><text>This person will never be convinced, but for anyone else reading, Australia (and Canada, and America) uses migration to ward off a population time bomb [1] not to “keep wages low”.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.macrotrends.net&amp;#x2F;countries&amp;#x2F;AUS&amp;#x2F;australia&amp;#x2F;birth-rate&quot; rel=&quot;nofollow noreferrer&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.macrotrends.net&amp;#x2F;countries&amp;#x2F;AUS&amp;#x2F;australia&amp;#x2F;birth-ra...&lt;/a&gt;&lt;p&gt;EDIT: sorry didn’t meant to be dismissive of the person above, but usually this topic hits way too personal for people to change minds online (see: comments below). For any passers by genuinely curious exhaustive data reviews are available [2].&lt;p&gt;Tl;dr: Immigration does not depress wages.&lt;p&gt;[2] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.noahpinion.blog&amp;#x2F;p&amp;#x2F;repost-why-immigration-doesnt-reduce?utm_source=substack&amp;amp;utm_medium=email&amp;amp;utm_content=share&quot; rel=&quot;nofollow noreferrer&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.noahpinion.blog&amp;#x2F;p&amp;#x2F;repost-why-immigration-doesnt-...&lt;/a&gt;</text></item><item><author>RachelF</author><text>Australia also relies on migration to keep wages down. This was paused during Covid, so there is more supply of people now.</text></item><item><author>LapsangGuzzler</author><text>I think a similar effect is seen in the US. Perusing the (notably fewer) recruiter emails I’ve gotten lately, they’re almost all below my current pay. Contrasted with a year ago, probably 30-40% of cold recruiter outreach were for higher paying gigs than my current job.&lt;p&gt;I’m also seeing developers with killer resumes complaining in community slack channels about not even getting called back for follow-up interviews. These are people that I would’ve cleaned up in referral fees back when the market was hot. Times have definitely changed.&lt;p&gt;It’s clear that the tech industry and engineering pay flourished under low interest rates and free flowing VC money. Those days are clearly behind us, at least for now.</text></item><item><author>photonbeam</author><text>Note: in australia</text></item></parent_chain><comment><author>ralph84</author><text>So in response to people being unable to afford kids, we depress wages to make it even harder to afford kids. Got it.</text></comment>