Last year, Rishi Khanna, CEO of a Dallas-based software company, had to open his wallet to hire new employees.
He shelled out as much as $225,000 for a sales leader and more than $100,000 for a software developer as he vied for candidates who were juggling multiple offers from other companies.
Now, salaries for those same positions have dropped to about $150,000 and $85,000, respectively, and Khanna’s company, called ISHIR, is flooded with applications from far more qualified candidates. As a result, he no longer needs to lure prospective workers with ever-higher pay packages.
