For the experienced developer, especially a self-starter who is willing and able to freelance or start his or her own company, this is a fantastic industry. And for the top-shelf folks, the sky is still the limit. But for developers who are outside the top 10% or 20%, or who lack experience, this industry is a dog-eat-dog world, with competition from overseas in particular being a concern. I love my personal career opportunities, but I would warn someone considering programming as a future path to be cautious.
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Justin James is the Lead Architect for Conigent.