A lot of people I know who stop being software engineers do it because they found something more profitable. (Management, executive track, founding their own company, etc.) Part of the reason is that salary progression after the first 10 years is generally flat for IC level. Yet, it continues almost indefinitely for other tracks or roles related to software.
That's a different issue though, isn't it? The money in software development is still much better than in most industries.
I don't think millions of people are thinking "well, I could make lots of money in software ... but management pays much better if I get one of those jobs ... so I better go into [unrelated, lower paying field]".
What I'm trying to say is that software is very attractive compared to other jobs, but still we don't see everyone rushing into it. I believe that's because money isn't the factor.
>>> The money in software development is still much better than in most industries.
No, it is not.
It's only FAANG and a few companies that pay well, and they are only located in the most expensive cities in the world (Silicon Valley, New York). Guess what, there's plenty of other high paying jobs in these locations.
If anything, the highest paid job is management, across all industries, because it's always better paid than the people underneath.
I agree to some extent but I find that as an IC (especially in startups) you can add even more value than random middle manager or even some executives. Yet, you still don’t get compensated like that.
Many CTO’s I’ve dealt with were a net negative in terms for the company - yet, they still get 10x the equity and much higher salary. So... :/
