Beyond interest rate, I think that software developers' wages in some places were getting absolutely insane. A lot of developers think it'll be difficult for them to get another job with the same wage - not just another job.
I was puzzled that people without a degree or relevant experience doing a 6-months bootcamp could earn great salaries as juniors or even interns!
It seems we're getting back to a more realistic scenario.
In Europe software engineers are being paid much less than the US (especially SV) and it seems we're not getting this kind of job market (yet?).
If your barometer for what SWEs are making is Blind or something, let's just say you're way off. Based on salary sites and such that I've seen that are specifically calibrated to Bay Area pay scales, most of the people bragging about their TC on Blind are either lying, overinflating pre-IPO equity, or got lucky with some real equity.
The numbers I've seen on blind are mostly accurate. The issue is that people only report on blind when their comp is at p95 of market. Making $350k is a bit of a trope on blind. You either make $350k, or peanuts.
I was puzzled that people without a degree or relevant experience doing a 6-months bootcamp could earn great salaries as juniors or even interns!
It seems we're getting back to a more realistic scenario.
In Europe software engineers are being paid much less than the US (especially SV) and it seems we're not getting this kind of job market (yet?).