> Reality is that engineers have way less bargaining power that they used to
There is negotation power but only if you pass all the interview challenges. Only at that point you are in a position to name your number (of course you won't ask $500K when you know the company you are applying to pays around $200K... because you have done your previous research on that; you'll ask something between $200K and $250K and see how they react). Layoffs and AI hasn't change this (sure, thing, 5 years ago companies were hiring more and perhaps were more relaxed about this, but that didn't change the fact that you can only negotiate when they want you)
There is negotation power but only if you pass all the interview challenges. Only at that point you are in a position to name your number (of course you won't ask $500K when you know the company you are applying to pays around $200K... because you have done your previous research on that; you'll ask something between $200K and $250K and see how they react). Layoffs and AI hasn't change this (sure, thing, 5 years ago companies were hiring more and perhaps were more relaxed about this, but that didn't change the fact that you can only negotiate when they want you)