There's something more insidious to your analogy though. A lot of those banking jobs don't exist anymore.
Any job that can be WFH will be easy to outsource. You aren't need in office so why do we even need you in this time zone? Outsource it cheap. If it really is manageable from a 30 min standup and Jira then why even bother with expensive devs?
Before you had a small competitive market in a central location. Now you're opening it up.
On top of that, remote work I find is starting to bleed over. I have meetings well past 5 now, quite often. I get messaged late and early. Whereas with the office it was different. People respected boundaries much more. Fully remote workforces lead to a lot more timezone issues as well.
I like flex time. I want to be able to work from home when I want to, but also want to go into the office for many things that are easier to do as a group.
Because you get what you pay for. I am yet to hear of any cases where in the long run outsourcing development to a low-wage country actually saved money. Competent engineers generally follow the money and emigrate. Why earn $10k a year in India when you could earn $100k in the USA?
The idea that devs in india can never be good as devs in the USA is so absurdly arrogant I don't know what to say. I'm sure mechanics thought the same, engineers thought "no way the japs can make better cars" yea we saw how that went.
The problem isn't that Indian developers aren't as good as Western developers, it's that competent engineers tend to emigrate to wealthier countries.
Approx 15,000 Indian-born IT professionals migrate to Australia each year [1], and there are around 300,000 Indian H1B visa holders (of any profession) in the USA [2]. I don't see this changing any time soon.
The supply is rapidly increasing. it doesn't matter that they move. Eventually there will be competition for jobs and prices will go down - because virtual work means the entire world is a job market.
Only it's more like 150K in the expensive parts of the U.S, which is 2x the compensation in Europe. So you're saying an average German team can't handle the complexity of an ad targeting or deliveries startup?
Any job that can be WFH will be easy to outsource. You aren't need in office so why do we even need you in this time zone? Outsource it cheap. If it really is manageable from a 30 min standup and Jira then why even bother with expensive devs?
Before you had a small competitive market in a central location. Now you're opening it up.
On top of that, remote work I find is starting to bleed over. I have meetings well past 5 now, quite often. I get messaged late and early. Whereas with the office it was different. People respected boundaries much more. Fully remote workforces lead to a lot more timezone issues as well.
I like flex time. I want to be able to work from home when I want to, but also want to go into the office for many things that are easier to do as a group.