The remote-work revolution has led some U.S. technology companies, from startups to Coinbase and Shopify, to seek new hires in Latin America -- where they can find qualified people in roughly the same time zone who'll work for much lower pay.
techies finally going thru their own "deindustrialization"
Journalism like this does little to suppress wages. Ultimately, companies just won't hire people if they can't find someone for the right price. There's no such thing as a "critical" employee, especially in engineering.
Wages in the tech sector will decline over time as the sector becomes more commodified and matures. Tech workers make a lot of money because the odds of them hitting a moonshot idea are so high, because there's still a lot of wins/higher than average profits. So it makes sense to pay Software engineers lots so that they potentially give your company that idea, or least don't go to a competitor, or start a their own company. Basically it's a bribe to prevent you from attempting a start-up.
Once all the unicorn profit potential dries up, or Amazon Web Services coats too much and web apps can't make as much profit, tech wages will come down to the level of other engineers, and eventually might even get lower because of how many people have flooded CS degrees chasing money.
Imperialism is simply a way for these companies to squeeze extra profit out of the same effort (because they can exploit offshore workers harder), but it doesn't really have an effect on domestic wages because those offshore workers aren't doing "potential moonshot" work. If your job is directly threatened by offshoring, it's threatened more so by automation.
Journalism like this does little to suppress wages. Ultimately, companies just won't hire people if they can't find someone for the right price. There's no such thing as a "critical" employee, especially in engineering.
Wages in the tech sector will decline over time as the sector becomes more commodified and matures. Tech workers make a lot of money because the odds of them hitting a moonshot idea are so high, because there's still a lot of wins/higher than average profits. So it makes sense to pay Software engineers lots so that they potentially give your company that idea, or least don't go to a competitor, or start a their own company. Basically it's a bribe to prevent you from attempting a start-up.
Once all the unicorn profit potential dries up, or Amazon Web Services coats too much and web apps can't make as much profit, tech wages will come down to the level of other engineers, and eventually might even get lower because of how many people have flooded CS degrees chasing money.
Imperialism is simply a way for these companies to squeeze extra profit out of the same effort (because they can exploit offshore workers harder), but it doesn't really have an effect on domestic wages because those offshore workers aren't doing "potential moonshot" work. If your job is directly threatened by offshoring, it's threatened more so by automation.