If there were enough graduates, then salaries wouldn’t be so high. There’s a shortage of talent.
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There is a shortage of talent because the skill set in demand changes overtime and it changes quickly.
AWS was barely a thing 15 years ago. AI saw explosive growth in the last 5. Engineer skills have a very short half-life. There are tons of engineers in SV but still we have massive shortage because most of the older ones don’t have the skills currently in high demand.
So someone 35yo may think they are top of the heap and don’t need to worry about jobs are probably correct. For now. Will they still be in hot demand 10 years later? 15? I won’t bet on it.
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Agree.
Agree.
Either go into management or RE-LEARN FAST.
Ratio of management to “engineers” is low. So, very few can successfully move into management and stay there + management positions need people management skills and is strife with politics, many engineers aren’t cut out for it.
I think high level architect/staff engineer/hands on tech manager jobs are safe provided one can deliver, else you are thrown away. I know quite a few people in their 60s and 50s who are working in tech level jobs at high positions and making a lot of money . In fact I knew some guy in his 70s who retired recently. Degrees help only in the 1st few jobs.
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Salaries will stay high for while because there is myth that spending printed money on software alone can create wealth. in most countries where US can outsource. software salaries become higher than avg.
there is so much money thrown at software that its sucking people around the world to SF.
https://venturebeat.com/2019/09/24/grammarly-uses-ai-to-detect-the-tone-and-tenor-of-your-writing/
Another Quora post about Chicago:
I moved from Northern California to Chicago after college. Here are my thoughts:
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Unlike New York City or Los Angeles, everyone from Chicago is from “around here.” The personalities you meet here are the type of people, largely, who prefer to be closer to home. Everyone’s families seem to be in Ohio or Michigan or somewhere within easy driving distance of Chicago. I never, ever meet the kind of people you commonly find in LA or NYC or SF: those who have really, really spread their wings and left everything behind them. People here tend to really like their families and spend a lot of time visiting them in Indiana or wherever. I am not like this at all, so this is a huge part of the culture here that I cannot relate to whatsoever. Chicago is not a city where people go to reinvent themselves.
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Almost everyone came here with a set of friends from college from Notre Dame, University of Wisconsin, etc. I think the average 20-something in Chicago is less open to making new friends than the average 20-something in Manhattan or San Francisco.
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You don’t meet a lot of kids from the ivy league here (and if you do, they’re more sheepish about it), and going to Notre Dame is often just as good as going to Harvard. My husband went to University of Chicago, and hardly any of his friends stayed here. That’s not to say you don’t ever meet them – you do. But there’s just generally less emphasis on academic prestige in Chicago. Whenever I go to New York, I end up at these parties where it feels like absolutely everyone in the room went to Princeton, Harvard or Yale and works at Goldman Sachs or BCG. You don’t tend to get that in Chicago – there’s a lot more of a mix among friend groups. There are quite a few guys in my group from MIT – they came here to work in high frequency trading it seems.
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If you work in finance, this is a city of traders. This is not a city of salesmen – those guys live in New York, generally. The Chicago Board of Trade is a fascinating world unto itself. There are tons of start-up prop shops and hedge funds.
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I think Chicago is culturally a much richer city than San Diego, Tampa and even San Francisco. First of all, size-wise, you simply cannot compare Chicago to even SF. It’s a much, much, much larger city. SD and Tampa are suburbs. The Art Institute is a world class museum – jaw-droppping masterpieces you will recognize around every corner. Across the street is the symphony (a beautiful gem-box of a building, like stepping into a Fabrege egg), and down the way is the giant opera house. There is a major architecture and design scene in the city.
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The architecture is unbelievable. Chicago is a far more beautiful city than New York. This is, after all, the spiritual home of Mies van der Rohe and the skyscraper. The beauty about Chicago, too, is that you can step away from the city and really see the cityscape – this is hard to do in New York.
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The people are friendly and polite, more so than anywhere else I’ve visited or lived. This is, after all, the midwest.
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Forget diversity. While there is a significant African-American population, this is a highly segregated city – the most segregated in the United States. There also are simply fewer Asians and Latinos here than in California or New York.
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The food is astounding – the restaurant scene is a foodie’s dream. I know New York is proud of its restaurants, but the NYT regularly notes that Chicago beats New York hands-down in the food scene.
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It is astonishingly inexpensive to live here. Without dependents, you can live quite well on $30,000 a year. There are many safe, vibrant, interesting neighborhoods to live in where your rent is just a song. You don’t need a car to get around. On the other hand, like in any big city, it’s not short on luxury if you have the money.
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Like New York, in Chicago, you become very much defined by your neighborhood. You can be a Gold Coast person, a Lincoln Park person, a River North person – you can stereotype these folks and not be far off.
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Prepare to like sports, follow sports and talk about sports.
Chicago is cheap because nobody but locals want to live there. Supply and demand. Not enough demand and lots of cheap flat land with no natural barriers like NYC or SF. Plus winters are brutal and summer humidity is unbearable.
If you like the series Shameless, then Chicago is for you.
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All shape and sizes of burgers? Raw to fully cooked? Whatever ingredients?
Don’t forget deep dish pizza.
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Wow. Reminds me of the good old days in 2003.
Banking giant HSBC has confirmed that top managers in its Canary Wharf HQ have lost their offices and will have to hot-desk on an open-plan floor.
It comes as HSBC pursues plans to shrink its office space by 40% in a post-pandemic shake-up.
Boss Noel Quinn said the whole bank was embracing “hybrid working” and he would no longer come in five days a week.
“My leadership team and I have moved to a fully open-plan floor with no designated desks,” he said on Linkedin.
Up to now, senior managers have been based on the 42nd floor of the building in east London in their own private offices.
But in future, they will be jostling for workspaces two floors down, while their old offices have been transformed into client meeting rooms and other communal spaces.
Mr Quinn told the FT that the old arrangement had been “a waste of real estate”, adding: “Our offices were empty half the time because we were travelling around the world.”
In a separate post on LinkedIn he said that after more than a year working from home, being based in an open plan office would allow him to “reconnect with colleagues and friends [and] be able to speak to them informally”.
The paper was co-authored by Jose Maria Barrero of the Instituto Tecnológico Autónomo de México, Nicholas Bloom of Stanford University and Steven J. Davis of the University of Chicago Booth School of Business and Hoover Institution.
“Our data on employer plans and the relative productivity of WFH imply a 5% productivity boost in the post-pandemic economy due to re-optimized working arrangements,” according to the paper. “Only one-fifth of this productivity gain will show up in conventional productivity measures, because they do not capture the time savings from less commuting.”
Other main findings include:
Higher-income employees especially will enjoy large benefits from greater remote work
The shift to work from home will directly reduce spending in major city centers by at least 5%-10% relative to pre-pandemic
“The shift to WFH will also have highly uneven geographic effects, diminishing the fortunes of cities like San Francisco with high rates of inward commuting,” the study found.
Bogus story. If you want a home desperately, just bid more. No need to camp outside. Aren’t homes sold to highest bidder, not the one who makes first offer? Am I missing anything in the story?
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In Singapore, new construction is sold to the first in line, not the highest bidder. May be, the practice is here too.
This gives rise to practice of flipping. The first in line will sell to an higher bidder back in the line.
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