If you graduated in 2022, 2023 may be a challenging year for straight out of college, graduating, and hopping through a hoop in the tech industry.
In addition to competing with “industry veterans” - who we also call “senior engineers”, you will have to compete with other bright bachelors at the time, for a low salary. The following article compiles the spending and savings of a fresher employee living on the salary and expenses of the global recession and inflation that continue until now.
This report was conducted in Vietnam, a country with a high number of workers in the software technology industry in Southeast Asia, and is greatly affected by the global recession and tech layoffs trends. As we approach from August 2022 until February 2024, the new employee spent below 30% on savings: more than 50% of that for mutual funds and about 19% for some fixed deposits - transportation, smartphone, courses, etc and the same value for an emergency fund - for sicks, accidents. Expenses did not exceed 80% of income, consistent with the frugal consumption trend of young people since the wave of layoffs and inflation. Due to the effects of inflation, although the salaries of workers in the industry have increased, it has been a little for nearly 2 years.
This report takes 5 mins, so:
