I work as a PM in a pretty big tech company, and I’m a cofounder of PrepTick (an interview prep startup).
Here’s a rundown of what we’ve been seeing in the tech job market. Situation’s super fluid, so it’s quite likely a lot of this might be inaccurate a week from today.
-Big companies (FAANG, Microsoft, Uber etc) continue hiring unabated. It looks like any contracts made are being honoured.
-Medium and smaller companies seem to be pausing hiring. A lot of scheduled interviews cancelled. Some candidates told us they were informed these companies would get back in 6-8 weeks.
-The majority of venture funded startups seem to have entirely stopped hiring, or seem to be on the verge of doing so. Some relatively urgent roles still remain open. Anecdotally, reasons seem to be either runway extension (defensively, or rarely - explicit guidance from investors), as well as a sheer lack of time, too many key people involved in firefighting expected changes in revenue/demand
Some incidental observations we made that might be useful for recently unemployed engineers/analysts: Lots of Banking tech roles still open, inspite of the pounding their stocks have taken. Banks pay decently, work environment is rarely as awesome as Tech but it’s a living. Accounting tech and Consulting tech seem relatively unaffected.
As an interview prep company, we know we can do a lot to help folks affected by this situation. Up until now we’ve focused on 1-1 coaching/practice simply because it’s proven to be incredibly effective. We really want to do something that can help a winder audience given the situation - and until things stabilize, we’re probably going to do it for free (think webinars, interview content, videos - we’re brainstorming a bunch of ideas)
If anyone has thoughts, or might be interested in helping/collaborating, drop me a note at [redacted].
We’re going to do whatever we can :)
PS - first post here, bad formatting, edited to try and fix it.