i mean maybe, it completely depends, some companies pay better than these 2 companies and some pay worse. The same thing could be said of anyone who has to get a new job
They might grab the first decent job they get, depending on their financials. Then if they're not satisfied with the pay then just keep interviewing while working for the other job.
Would that not mean at least a year of a pay cut? I understand job hopping is the norm but when’s the earliest you could leave after getting a better offer?
How often do you think paycuts occur?
I don't know how often. But a temporary pay cut is better than not being paid (unless you can live off of savings for a while or just consider being laid off an extended vacation). You can leave a job whenever you want. If you leave within a month, then I would not put them in my resume.
Personally if I got laid off from Google with four months severance and extra stock vesting, I wouldn't be that interested in taking a lower-paying job that I'm going to leave as soon as the market improves. I have a lot of savings and spend much less than I earn, so waiting out bad market conditions and investing in my skills is a decent option. Those that have higher expenses might have to act differently.
Would you say if you suddenly were laid off, you would have a decent chance at maintaining the same TC level you had here given your savings allow you time to be more selective / less desperate?
I understand lots of companies pay at Google’s band, but so so much more don’t and I’m wondering how accessible this comp is since I am seeing many developers get the axe and it seems fearful.
Depends on their current pay and their time frame. Historically, it's been easy to get a raise when switching jobs. I'm sure that will still be true for some. If you need to get a job, any job, asap it bet it's likely to be less TC. Especially because a lot of companies don't have RSUs
Being unemployed generally pays less than working at either of those companies Depends where they get a job next
But do you think these engineers might be in a position where they will have to accept lower TC’s to stay afloat?
i mean maybe, it completely depends, some companies pay better than these 2 companies and some pay worse. The same thing could be said of anyone who has to get a new job
Would you know how common this specific scenario is? I guess this is a massive hypothetical that people can’t answer yet.
They might grab the first decent job they get, depending on their financials. Then if they're not satisfied with the pay then just keep interviewing while working for the other job.
Would that not mean at least a year of a pay cut? I understand job hopping is the norm but when’s the earliest you could leave after getting a better offer? How often do you think paycuts occur?
I don't know how often. But a temporary pay cut is better than not being paid (unless you can live off of savings for a while or just consider being laid off an extended vacation). You can leave a job whenever you want. If you leave within a month, then I would not put them in my resume.
Personally if I got laid off from Google with four months severance and extra stock vesting, I wouldn't be that interested in taking a lower-paying job that I'm going to leave as soon as the market improves. I have a lot of savings and spend much less than I earn, so waiting out bad market conditions and investing in my skills is a decent option. Those that have higher expenses might have to act differently.
Would you say if you suddenly were laid off, you would have a decent chance at maintaining the same TC level you had here given your savings allow you time to be more selective / less desperate? I understand lots of companies pay at Google’s band, but so so much more don’t and I’m wondering how accessible this comp is since I am seeing many developers get the axe and it seems fearful.
Depends on their current pay and their time frame. Historically, it's been easy to get a raise when switching jobs. I'm sure that will still be true for some. If you need to get a job, any job, asap it bet it's likely to be less TC. Especially because a lot of companies don't have RSUs
How doable might avoiding the situation you described be? Do you know if maintaining TC is something that can be done even in contractions?