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Not to sound insulting, but you come across as very naive. You make it sound like you truly believe IT is some safezone when it comes to employment and a future... but you do see it coming, right? You do notice that wages are dropping across the board and to remain competitive, all companies will have to follow suit eventually. What will you do when programming becomes factory work that is outsourced like virtually all production? Programmers, even good ones, are not safe.
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Anyone who stays in pure programming as their career is retarded. That's no different than working as a Wal-Mart greeter for your entire life. The idea is to move up the ladder to the positions where you are designing the software and telling other people what to do. Why you'd ever want to stay in the same position, endangering yourself to every new grad that comes along is beyond me.
The low wages and outsourcing are only affecting the large sectors that have a handful of big competitors. It's not occurring in the smaller specialty markets. Why? Because it makes no sense for the 100-employee company to do so.
Now stuff like tech suppport is a different story...
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By the way, I've also got a job lined up straight out of school, and I'm getting a worthless BA in Music.
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Camp Snoopy needs its brass band, so duh.