It very much depends on industry. It's typical that industries with a lot of money also pays higher salaries. When I first started out as an Engineer in oil and gas, salaries had peaked. Senior Engineers were getting paid $300k-$400k.
The brain drain was real. Why would any engineer bother with other sectors, when you could get paid 50%-100% more in O&G, compared to other sectors? Startups, almost no mater how well-funded (by European standards), couldn't compete.
But, surprise surprise, the good days came to an end - massive layoffs, and people suddenly found themselves in those other "lesser" industries, with massive pay cuts.
The good news is that I've seen an explosion in entrepreneurship and tech the past 5-10 years, and people are more willing to try those routes, as well as that the VC community seems to grow stronger.
The brain drain was real. Why would any engineer bother with other sectors, when you could get paid 50%-100% more in O&G, compared to other sectors? Startups, almost no mater how well-funded (by European standards), couldn't compete.
But, surprise surprise, the good days came to an end - massive layoffs, and people suddenly found themselves in those other "lesser" industries, with massive pay cuts.
The good news is that I've seen an explosion in entrepreneurship and tech the past 5-10 years, and people are more willing to try those routes, as well as that the VC community seems to grow stronger.