With the .com crashes through 2000 and 2001, it wasn't until well after 2005-2008 until pay had started to come back up, and still without the crazy signing bonuses. We're still in the down trend, and the industry is bigger today, so longer/larger impact.

Not only that, but it's pushing market rates down significantly. I'm making about 60% of what I made the past few years... I could only handle not having income for so long. I was juggling two jobs for a while, but just couldn't manage it. Hoping to pick up some side work to fill the gaps. Have to face it, a lot of the high pay contract software jobs have just dried up for now.