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 SG: End of Golden Era of Big Tech 😱😭

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novblaze
post Nov 17 2024, 04:34 PM

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QUOTE(kenny B @ Nov 17 2024, 02:12 PM)
yes... 6k is not senior pay
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Wow orang it really gaji langit syurga
friedricetheman
post Nov 17 2024, 04:38 PM

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QUOTE(God Grid @ Nov 17 2024, 03:26 AM)
Yea, the market is insanely competitive now

Senior used to earn 10k easily to now just mere 6k

Phew… that’s pretty sad
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Become bus driver like me. Always constant maintain RM5.1k a month. Good life yo
nelson969
post Nov 17 2024, 04:45 PM

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the return of great 3 meta , doctor , lawyer and accountant / auditor / tax agent

Welcome back

oh by the way, technology ppl still need quality assurance service job , u need someone to take care those coding, hardware and network stuff, but these job could be super limited
nelson969
post Nov 17 2024, 04:48 PM

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QUOTE(zerorating @ Nov 17 2024, 01:10 AM)
but previously tech people earn alot more, should already have tons of savings and make some investment no? problem is people think they will earn big forever, so buy civic in their mid 20s.
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all go in bitcoin liao.
blmse92
post Nov 17 2024, 05:05 PM

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Here in Malaisya, paid 4k to do ALL WORK. Tqvm from boss
They think 4k is very big here. If not u search for other job then from Cina boss.
God Grid
post Nov 17 2024, 05:18 PM

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QUOTE(zerorating @ Nov 17 2024, 04:03 AM)
is this for singapore?
sometime i felt it is "too good to be true" that the company i work do salary revision few time without being asked, are they really desperate on talent retention? what if they felt i am too expensive to keep, they can just kick me out without second doubt at all.
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not only for SG though, it's happening all over the world now

APAC, EMEA, USA... the golden era has passed

QUOTE(novblaze @ Nov 17 2024, 05:52 AM)
Senior exec earns 6k sgd ok what.

Mere meh?
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senior dev though, no more happy go lucky so syok like few years back

QUOTE(Mr.Robert @ Nov 17 2024, 07:48 AM)
How come got deflation ? ohmy.gif
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i guess the demand during pandemic was too much

that time it was overinflated, every company wants to hire tech people, so they willing to spend like they have unlimited money

but yea, at that time tech companies were doing extremely well, i was in a company from 2018 - 2022, before pandemic, they were only doing 80k-150k a month, then during 2021-2022, suddenly hit 300k-400k a month

QUOTE(lordgamer3 @ Nov 17 2024, 08:12 AM)
Yep the pioneers earned more had better quality life stronger purchasing power. Technically young gen paying of derivative debt of old gen through inflation and over supply of talent.
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yea, the new gen is pretty fucked right now. they have to compete with the older gen that is willing to lower their expectations. having to work 3-4 jobs is pretty normal these days.

companies are happy now get to hire senior levels with junior pays

QUOTE(ZerOne01 @ Nov 17 2024, 08:14 AM)
it's time for you to read my sig today
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always brighten up my day! hahahahahaha
LuckyBai
post Nov 17 2024, 05:23 PM

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In the end the world shouldn’t be relying the Us for economy growth .. and should stop buying American products
silverhawk
post Nov 17 2024, 05:55 PM

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QUOTE(God Grid @ Nov 17 2024, 05:18 PM)
i guess the demand during pandemic was too much
that time it was overinflated, every company wants to hire tech people, so they willing to spend like they have unlimited money
but yea, at that time tech companies were doing extremely well, i was in a company from 2018 - 2022, before pandemic, they were only doing 80k-150k a month, then during 2021-2022, suddenly hit 300k-400k a month
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The demand during pandemic was because only certain companies benefitted greatly. So they looked to hire/poach talent from other companies. This in turn made other companies lose talent and have gaps to fill. Thus an artificial demand was created.

Most of us in the industry knew this would be temporary and layoffs would happen shortly after. Overall though, the industry still pays very well.
SUSipohps3
post Nov 17 2024, 06:30 PM

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QUOTE(God Grid @ Nov 17 2024, 05:18 PM)
not only for SG though, it's happening all over the world now

APAC, EMEA, USA... the golden era has passed
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agree with this observation, overall the tech companies are on cost saving mode. very prudent on how they spend now, no more pandemic driven splurge.

now with Trump back to White House, not sure if it will create more uncertainties and how this will affect tech jobs.
SUSpetpenyubobo
post Nov 17 2024, 09:04 PM

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QUOTE(ipohps3 @ Nov 17 2024, 12:58 AM)
Goodbye to big tech’s big perks? S’pore workers say global techlash has come for their benefits

“With thousands of fresh grads being pumped out every year, I don’t think the demand will catch up to what it was,” Thomas says. “But the benefits, even though they are maybe 60 per cent of what they used to be, are still best in class.”

“It’s definitely getting worse. Everyone is in survival mode, and money is being spent on artificial intelligence data centres, not people,” says the former tech worker, who is in his early 40s.
Here's more inside:

It seems what is happening in most of these tech companies is what we call "Generation Disconnect"

Gen X(Late 40s into 50s beyond): are preparing for an earlier retirement, awarding themselves with all the promotions for their final years in employment to ensure they leave the company with the highest salary before their final golden years.

Gen Y(Millenials Late 30s into early 40s): Sandwiched in the middle because salary is already at peak, performance reducing due to age catching up, lack new ideas and cannot click with younger Gen Z and Alpha lifestyles. Still got at least 2-3 decades more to work before retirement. "
Mid Life Crisis"

Gen Z and Alpha(In late 20s and younger): Pumping out by thousands every year in desperate need of a job to join the workforce.Highly obsessed with social media and exposure.Some are children of Gen X and younger boomers. Need to be groomed to take over parents companies.

This post has been edited by petpenyubobo: Nov 17 2024, 09:08 PM
SUSpetpenyubobo
post Nov 17 2024, 09:13 PM

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QUOTE(ipohps3 @ Nov 17 2024, 06:30 PM)
agree with this observation, overall the tech companies are on cost saving mode. very prudent on how they spend now, no more pandemic driven splurge.

now with Trump back to White House, not sure if it will create more uncertainties and how this will affect tech jobs.
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Employment with a fixed monthly paycheck will be a thing of the past with AI gaining more acceptance widely.

With employment your life's fate is in your employers control. If you are unfortunate and caught in the wrong times, your boss can end your career and livelihood by just terminating your employment.
ye0073
post Nov 17 2024, 09:49 PM

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Singapore now is hurting so much.
Most of the MNC financial, IT job moved to India.
My Singapore friend shared service center also closing.
SUSipohps3
post Nov 17 2024, 10:09 PM

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QUOTE(ye0073 @ Nov 17 2024, 09:49 PM)
Singapore now is hurting so much.
Most of the MNC financial, IT job moved to India.
My Singapore friend shared service center also closing.
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so your friend kena retrenched?
SUSpetpenyubobo
post Nov 17 2024, 10:16 PM

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QUOTE(ye0073 @ Nov 17 2024, 09:49 PM)
Singapore now is hurting so much.
Most of the MNC financial, IT job moved to India.
My Singapore friend shared service center also closing.
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SPH Singapore recently did a big reshuffling of its IT Dept.

SPH Media Lays Off 10% of Tech Employees a Week After Denying Rumours
https://www.theedgesingapore.com/news/compa...denying-rumours
https://www.malaymail.com/news/singapore/20...-members/155768

God Grid
post Nov 18 2024, 01:55 AM

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QUOTE(silverhawk @ Nov 17 2024, 05:55 PM)
The demand during pandemic was because only certain companies benefitted greatly. So they looked to hire/poach talent from other companies. This in turn made other companies lose talent and have gaps to fill. Thus an artificial demand was created.

Most of us in the industry knew this would be temporary and layoffs would happen shortly after. Overall though, the industry still pays very well.
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true, good times won't last forever. eventually, things will normalise. I guess now things are starting to normalise. I guess I should be happy that I still get a WFH job. Can't complain already.

QUOTE(ipohps3 @ Nov 17 2024, 06:30 PM)
agree with this observation, overall the tech companies are on cost saving mode. very prudent on how they spend now, no more pandemic driven splurge.

now with Trump back to White House, not sure if it will create more uncertainties and how this will affect tech jobs.
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indeed. Now all the great perks are gone. Used to get things like ESOP, work from anywhere, unlimited leaves, great insurance coverage, flexible allowance, etc and many more
MasBoleh!
post Nov 18 2024, 09:30 AM

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QUOTE(petpenyubobo @ Nov 17 2024, 10:16 PM)
SPH Singapore recently did a big reshuffling of its IT Dept.

SPH Media Lays Off 10% of Tech Employees a Week After Denying Rumours
https://www.theedgesingapore.com/news/compa...denying-rumours
https://www.malaymail.com/news/singapore/20...-members/155768
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I knew a lot of SG tech jobs went to oversea such as India and Malaysia. Pity for them
SUSipohps3
post Nov 18 2024, 10:27 AM

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QUOTE(MasBoleh! @ Nov 18 2024, 09:30 AM)
I knew a lot of SG tech jobs went to oversea such as India and Malaysia. Pity for them
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remotely, or the company move out from SG?
MasBoleh!
post Nov 18 2024, 10:30 AM

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QUOTE(ipohps3 @ Nov 18 2024, 10:27 AM)
remotely, or the company move out from SG?
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The whole team or dept move out from SG

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