Re:The Myth of America's Tech Talent Shortage
by rayiner on Monday April 29, 2013 @03:08PM
(#5628016)
> What other industry has as much salary growth for front-line or entry-level people? I believe in a shortage.
From 2005 to 2008, first year analyst/associate salaries at Wall Street banks, consulting firms, and law firms jumped 30% or more. In neither case was there a real shortage of people across the industry. Instead, it was just a matter of a few top firms bidding up salaries for the top young graduates in response to a temporary boom. Certainly nobody was calling for increased immigration to address any perceived "talent shortage."
This is exactly what is happening in Silicon Valley right now. You're seeing a spike in salaries for the few top people at the few top employers as the result of a temporary boom in the sector. You're not seeing a long-term trend of the industry needing more CS graduates than our domestic institutions can provide.
From 2005 to 2008, first year analyst/associate salaries at Wall Street banks, consulting firms, and law firms jumped 30% or more. In neither case was there a real shortage of people across the industry. Instead, it was just a matter of a few top firms bidding up salaries for the top young graduates in response to a temporary boom. Certainly nobody was calling for increased immigration to address any perceived "talent shortage."
This is exactly what is happening in Silicon Valley right now. You're seeing a spike in salaries for the few top people at the few top employers as the result of a temporary boom in the sector. You're not seeing a long-term trend of the industry needing more CS graduates than our domestic institutions can provide.