The State of the Tech Market in 2023

Reflecting on the tech market from compensation, VC funding and RTO dimensions. What are the fundamental shifts happening that we’ve not seen in more than a decade?

It’s been more than 18 months since we covered the “perfect storm” which fuelled a super hot hiring market in 2021. Since then, things have changed – a lot. In this issue, we take a look at the forces moving the jobs market today — similarly to how we did in late 2021.

Also, I’m collecting a variety of observations from various data sources for a follow-up issue, which will cover what hiring managers are seeing, and provide a summary of trends. If you are a hiring manager, you can share your input here. Thanks a lot in advance!

Today, we cover:

1. VC funding lagging behind

2. Downward pressure on tech compensation

3. Nosedive and recovery for new grads’ salaries in the US?

4. Stagnation across the rest of the market

5. The impact of Big Tech layoffs

6. Return to office (RTO) policies in full force

7. Fundamental change in the tech market

Here’s a brief overview of how I see the market, today:

1. VC funding lagging behind