It's a down market and you might be better able to retain them if the market turns up again (or maybe not, I'm old and mostly just want a remote gig where I have time to parent my child).

In an up market it’s going to be worse. HR is still going to hold the line on raises and not keep up with the market.

I’m old too - 51. But I consistently tell young people to chase money. Target BigTech or adjacent companies, “grind leetCode”, avoid startups and Monopoly money “equity”, etc.

One person I mentored when they were an intern in 2021 and when they came back the next year, is 25 years old making $220K (Solution Architect not a developer) and I couldn’t be happier for them. They make the same as I make now. But I’ve already raised two (step)kids, bought and sold the big house in the burbs, etc and love working remotely.

I told them to do whatever it takes to be seen, promote themselves, build a network internally and with clients and make all the money they can.