Is the bubble bursting for tech workers?
Is the tech bubble bursting again? The layoffs in Big Tech, which started in 2022, left many wondering if this is just the tip of the iceberg. So, what does this mean for these workers and those aspiring to join the tech industry, especially when the economic outlook remains uncertain?
Technology is part of our everyday lives and necessary for most societies to function. This increasing dependency has led to massive growth in the tech sector and, with it, a proliferation of high paying jobs.
Following the industry’s recent struggles, those exorbitant salaries are now being scrutinized like never before.
“What has happened in the last three to four years is the pay for the other non-Big Tech companies have gone up, and many of the startups are really upset because they can’t burn cash at those rates,” Ben Leong, a professor of computer science at the National University of Singapore, told CNBC.
“The Big Tech companies will continue to pay what they used to pay – they always pay a lot,” he added.
“I suspect the growth in the median pay will either stagnate or may even drop a little bit.”
So, is the bubble bursting for tech workers? Watch the video above to find out more.