Stock valuations had a pretty large pullback though so RSU compensation for existing employees is a lot lower than it was at the height of the red hot market.

there are plenty of ways a company can pay you less without having to change their entire comp model and wasn’t suggesting that was what was happening

the point is a flight to safety gives Megacorps leverage they didn’t have 1-3 years ago. they can pay you at the lower end of a pay band or interview you for a lower level than you asked for. and if people are desperate enough because they are in a tanking company or laid off they might take it.

And when everyone is thinking the same thing they can be pickier and get better quality talent for the same money regardless

They won’t. I’ve spent 30 years in fairly senior positions at mega corps. It’ll take a few years and only if the other mega corps reduce pay. Their response to a lot of available talent isn’t to pay less it’s to reduce their conversion rates and be more selective. They aren’t competing for talent against startups or even places like Coinbase and Uber for the most part. It’s against each other.