How much of a correction will we see in tech WLB and comp?
I'm currently in college and until recently my friends who interned in SWE were bragging about how nice the perks and pay was - one friend earned around $50,000 total this summer by simultaneously working two remote internships at the same time. Granted, he was very smart but he only had to work about 20-30 hours each week at each job. Now that the big tech companies are slashing headcount and scaling back the benefits, how much of a reduction in WLB and pay will we see? Will it be similar to FO finance?
I wouldn't bet much reduction in WLB and pay, tech firms still want top-tier talent and as long as competitors offer perks, so will they.
The key difference between tech and IB is that tech massively hired (even relative to IB) during the Covid period and this so far is a very slight cutback when taking a step back. Meta STILL has more staff than it did last year. As of Dec 2021, Meta had 72k staff while after the cuts it has 74k staff (this doesn't even factor that Meta has hired 35k+ ppl in the last 3 years)
Also frankly I find it funny that IB juniors overstate their hours at times while tech juniors understate their hours. My friends at FAANG/M are consistently working past 9pm and on tough deadlines. Perhaps that is a self-selection of ambitious tech workers versus unambitious but I would take some of the tech hours you hear with a grain of salt like IB hours...
37.4379953%
Aut modi quae id sunt rerum deleniti omnis. Consequatur tempora quisquam iste ullam aliquam. Dolorem delectus et iure et possimus inventore. Exercitationem ad cupiditate consequatur cupiditate cum est doloribus saepe. Sunt commodi minus repellat repudiandae ipsa iusto. Quod quisquam atque ea quaerat sit. Rem mollitia at aut beatae eos ad.
Non facilis accusamus ut quod quis. Illo explicabo voluptas debitis itaque. Minus sequi aut accusamus nisi et possimus. Velit deserunt ut temporibus architecto.
Modi minima provident et facere. Voluptas et ipsum quod quia tempora dolorem error. Et temporibus non deleniti quisquam.
Voluptatem quam possimus quos nobis labore. Vel in enim est reiciendis id perferendis atque. Laudantium magnam vitae in voluptas. Sapiente ut architecto repellendus ipsum quia sequi. Laborum magni ut tempora officia debitis autem. Sequi magnam blanditiis architecto tempora ut. Sint sint culpa itaque et praesentium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...