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I think this applies mostly to "top tier tech"

In the UK, I have only been "down levelled" once, and that was when my company got bought out by a FAANG. I went from head of infra(with a growing team), to almost a ticket monkey, but not quite. Apparently I'm bottom rung senior, but given that I'm not managing people, infra or projects, its really not.

This is of course natural, as FAANGs are stuffed with over achievers and people willing to sacrifice _everything_ for for fake company points. I am happy enough collecting my kings ransom for handling 1/20th of the responsibility I had in the previous company.

I am lucky that when I have been looking for a new job I haven't had pressure to take anything that was on hand. This meant that I could avoid the bullshit jobs and push for something I wanted to do. At each stage I've had more responsibility, or more control over my area.



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