SWEs in 1st world countries no longer price-competitive, and they have to either move to 3rd world countries or change career
In the Netherlands we have a lot of outsourcing to India and a lot of Indian IT workers moving here. We still have many IT job openings and some companies have been moving development back from India, because cultural differences and language barriers some times cost more than the added salary of a local employee.
People in 3rd world countries no longer want to pursue career as a doctor (and other similarly needed professions like law) (expensive, time consuming, etc) and just pursue SWE jobs
This assumes that people pursue career paths only for the money. Of the doctors I know, most people did not pick that job for the money, they did it because they wanted to be a doctor.
Then there's the fact that people have different interests and natural skill sets. A family member of mine, for example, is a doctor and asked me: "do you really like computers". She would not become an SWE even if it paid double.
That's the rationalization given. But expressed preferences definitely does show that salary drives large numbers of people into professions. With the aging boom, lots of people went into nursing with the expectation of easier money. Tech salaries have sucked oxygen out of the room for people going into maths, physics, and other engineering professions just like FinTech salaries have also sucked talent out of those professions. This has knock-on effects.
Worst case there's fewer doctors, their salaries increase (steady demand + shrinking supply), and the quality of care increases as does wait times and access to care for the broader population worsens. Realistic case, I don't know if it'll impact doctors numbers as the field isn't particularly related - the overlap of people who are equally considering between SW and medicine is small. Maybe in the longer term it has an impact on students making career choices in high school? Hard to say.
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In the Netherlands we have a lot of outsourcing to India and a lot of Indian IT workers moving here. We still have many IT job openings and some companies have been moving development back from India, because cultural differences and language barriers some times cost more than the added salary of a local employee.
This assumes that people pursue career paths only for the money. Of the doctors I know, most people did not pick that job for the money, they did it because they wanted to be a doctor.
Then there's the fact that people have different interests and natural skill sets. A family member of mine, for example, is a doctor and asked me: "do you really like computers". She would not become an SWE even if it paid double.
That's the rationalization given. But expressed preferences definitely does show that salary drives large numbers of people into professions. With the aging boom, lots of people went into nursing with the expectation of easier money. Tech salaries have sucked oxygen out of the room for people going into maths, physics, and other engineering professions just like FinTech salaries have also sucked talent out of those professions. This has knock-on effects.
Worst case there's fewer doctors, their salaries increase (steady demand + shrinking supply), and the quality of care increases as does wait times and access to care for the broader population worsens. Realistic case, I don't know if it'll impact doctors numbers as the field isn't particularly related - the overlap of people who are equally considering between SW and medicine is small. Maybe in the longer term it has an impact on students making career choices in high school? Hard to say.