I feel like you've neglected that there was a massive lawsuit against big tech where Google, Adobe, Apple, Paypal, and others actively colluded with each other to suppress wages:
It really wasn't until after this lawsuit, along with Facebook actively making better offers, that tech salaries started to skyrocket. I'm the sure the bull market for 8 years didn't hurt either.
> It really wasn't until after this lawsuit, along with Facebook actively making better offers, that tech salaries started to skyrocket.
No, the lawsuit had nothing to do with it. The market exploded because Facebook refused to join the cartel. The lawsuit fined the companies involved risible amounts and no one involved got fired or jail. Irrelevant.
Management and executives are DEFINITELY underpaying us relative to what we bring to the table for them. This is true of every industry going on decades of increasing productivity and stagnating pay. What's new here besides greater awareness and labor churn? Will there be an actual change going forward? Of course the demographics favor workers now, but the laws and politics often don't. Immigration and outsourcing and automation can change that power dynamic very quickly. What're you going to do? Form a union? Start a company? Vote? Quit and work elsewhere? Interesting times we live in.
Maybe that is one of the reason headcounts have ballooned and complexity has increased so much -- an attempt to minimize individual impact. VCs and MBAs famously refer to this as the bus principle: what would happen if the key employee or executive got hit by a bus today? How would the company fare? The metaphor is quite telling in its priors, assumptions, and priorities.
All of my friends and aquaintinces in nursing, tax, retail, and trucking have a few people who are trying to break into programming because of the benefits and pay. Outsourcing, scope creep, and automation exist and are expanding in my industry as well. How long until this drags down programmers as well? With the potential end of this bull marker will programming compensation stop being the highest paid field? I do wonder and doubt.
I suspect that software engineers, as broad as that term encompasses, will eventually see the effects of pay and work which up to now they've been largely insulated from. More work being handed off to you for a minimal or nonexistent pay bumb. Or slower wage growth than we've been accustomed to seeing. That's my prediction anyways.
My other point is that, based upon the revenue and profit generated per employee for many of these mega corporations, software engineers should be paid more, but I think lately we have astronomical pay relative to other industries in the 3-10 year experience mark for most of the roles in the labor market.
https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L...
It really wasn't until after this lawsuit, along with Facebook actively making better offers, that tech salaries started to skyrocket. I'm the sure the bull market for 8 years didn't hurt either.