The rise and fall of the "Tech Bro"
The rise and fall of the "Tech Bro"
2024 is not a good time for tech workers, but opportunities are there.
Before 2000:
Traditional high-income careers like finance, medicine, law, and corporate management were seen as reliable paths to wealth.
The rise of 'Tech Bros':
Tech companies disrupted traditional career paths offering their employees a more relaxed work culture and significant financial success.
The tech industry initially struggled post-2000, but the survivors (FAANG/Big Techs) thrived, leading to a 'Golden Era' of tech services.
Tech Workers enjoyed lucrative perks, early career success, and a work-life balance that was the envy of other industries.
The mid-2010s brought a surge in tech hiring. FAANG companies offered competitive salaries and stock options, thanks to easy access to capital, anti-competitive behaviours like hiring many devs to make it harder for competitors to build great teams, relative low supply of high-skilled devs.
The fall:
The "golden option" of working in big tech increased the supply of tech workers as more people wanted to get into the field.
The tech industry's reliance on venture capital funding has led to boom-and-bust cycles, impacting job security and career prospects. With the recent higher interest rates, companies are less eager to waste money.
The rise of AI and automation has threatened entry-level tech jobs, making the industry less stable for new entrants.
Tech industry concentration in a few high-cost cities has led to housing and infrastructure challenges, affecting both workers and local communities. In short: 6 figures salaries in places like California or NYC have become less attractive than they used to be, in addition to making these places less liveable and tech workers less "loved" by locals.
So...
What can you do about this as a dev in 2024?
Here's a few options:
If you love big tech careers and are OK with grinding, base yourself in a tech hub, go to the office, upskill yourself (work in high-demand and promising fields and learn to integrate AI in your workflow), and just... work very hard.
If you're flexible location-wise and don't want to be based in such tech hubs which are increasingly becoming less attractive from a lifestyle and living conditions perspective, GO REMOTE: learn how to land high-paying remote roles and base yourself in a low-tax, low-cost country.
Consider career pivots: a key trait of human success is the ability to adapt. As tech careers take a hit, other options thrive. I am not aware of all the options. So just look around you and invest in promising avenues. Some options I see are: create content and build an audience, if you have cash consider real estate, try freelancing/consulting/coaching, build your own SaaS.
What you SHOULDN'T DO:
Frame yourself as the victim and just blame the world, the year, the market... The list goes on. This will bring you nowhere.
Whenever you're ready, there are 2 ways I can help you:
EuroTopTechJobs.com: My job board with 4000+ top-paying dev jobs in Europe and a growing list of high-paying fully-remote tech companies. Includes total compensation and saving rates data.
My Coaching Program: Hire me to help you relocate to Europe, land a well-paid tech job in Europe, move to Switzerland, get a big tech job, go remote and optimise your taxes and lifestyle, plan the next few years of your tech careers, etc.
