High paying jobs with tons of new graduates have an oversaturated supply problem. It’s no surprise that when people figure out that becoming a software developer is easy street to 150k+++ WFH that there was a huge rush to get those jobs… now that there are TONS and TONS of young junior devs there is no shortage to hire someone for near minimum wage.
Why pay 400k for a senior developer when you can hire a mid-level for ~100k to be a manager, and 4 juniors for 60k a piece, and augment them with chatgpt to help them learn what they are skill gapped by.
Plus junior devs are so desperate you can force them to come into the office, something the dev divas ten years ago refused to do back when there was a huge shortage of coders.