Is the tech bubble bursting again? The layoffs in Big Tech, which begin in 2022, many think are just the tip of the iceberg. So what does that mean for these workers and those interested in joining the tech industry, especially when the economic outlook remains uncertain?
Technology is part of everyday life and necessary for most people to function. This growing dependence has led to huge growth in the technology sector and, with it, many high-paying jobs.
In the wake of recent industry struggles, massive salaries are now being scrutinized like never before.
“What’s happened in the last three to four years is that the pay for other non-Big Tech companies has gone up, and a lot of startups are really tired because they can’t burn cash at those rates,” said Ben Leong, a professor of computer science at the National University of Singapore. , told CNBC.
“Big Tech companies will continue to pay what they used to pay – they always pay a lot,” he said.
“I suspect that the growth in the average salary will stop or maybe even a little.”
So, is the bubble bursting for tech workers? Watch the video above to find out more.