> The cynical part of me thinks all this "WFH Permanently" initiative is just a disguise for companies to start lowering cost for entry to mid-level IC positions by hiring from areas with much cheaper CoL.
This isn't cynical, but the sword cuts both ways. Eventually, those lower CoL areas will equalize towards a higher CoL as folks begin moving there to WFH. The other way around will occur there too, as the discount to entry or mid level IC engineers will erode over time, and the good ones will cost more because of trajectory, while the more middling ones likely will experience some erosion due to increased labor market competition.
With that said, I can't really speak as to what the second order effects or black swans will be regarding the shift to remote first. Some speculation:
- Will suburbs become more or less attractive as commute becomes less important of a perk?
- Will more remote tracts of land previously relegated to just outside the reach of exurbs become more or less attractive now that inhabitants are no longer precluded from virtual labor market participation?
- Will a caste system solidify around those who continue to commute to the office versus those who do not, or will it dissolve as the majority moves towards working and collaborating virtually?
- What will the effect of timezones be? Will we begin to see nations organize around timezone based vertical blocs as economies increasingly shift towards virtual labor and knowledge work?
This isn't cynical, but the sword cuts both ways. Eventually, those lower CoL areas will equalize towards a higher CoL as folks begin moving there to WFH. The other way around will occur there too, as the discount to entry or mid level IC engineers will erode over time, and the good ones will cost more because of trajectory, while the more middling ones likely will experience some erosion due to increased labor market competition.
With that said, I can't really speak as to what the second order effects or black swans will be regarding the shift to remote first. Some speculation:
- Will suburbs become more or less attractive as commute becomes less important of a perk?
- Will more remote tracts of land previously relegated to just outside the reach of exurbs become more or less attractive now that inhabitants are no longer precluded from virtual labor market participation?
- Will a caste system solidify around those who continue to commute to the office versus those who do not, or will it dissolve as the majority moves towards working and collaborating virtually?
- What will the effect of timezones be? Will we begin to see nations organize around timezone based vertical blocs as economies increasingly shift towards virtual labor and knowledge work?