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Unraveling of the tech hiring market

blogs.janestreet.com

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Re: Unraveling of the tech hiring market

#2

Post by minimaxir »

Helpful context, since Jane Street may be an unfamiliar company to HN users: Jane Street is known as one of the companies with the most technically difficult interview processes, so that gives then a unique perspective regarding tech hiring.

Re: Unraveling of the tech hiring market

#3

Post by aptimpropriety »

"But this year it seems like the seal is broken, and we've seen major companies delivering internship and full-time offers with 2 week (and less) hard deadlines. Other companies now routinely deliver expiring bonus offers for signing early. Many of these offers circumvent or outright break the guidelines set down by schools, and if past matching markets are a model for this one, next year will come with even earlier offers and worse conditions."

Will you name the companies, and give further specifics? Otherwise it's hard to tell what really has changed.

I'd say this is not new, nor unique to tech. Finance, consulting et. al have been dealing with this for years - both with new grad offers, and with banking/consulting to PE/HF offers (often analysts have their next job within 6mo of starting their first job).

Re: Unraveling of the tech hiring market

#4

Post by tosseraccount »

minimaxir wrote: post #2

Helpful context, since Jane Street may be an unfamiliar company to HN users: Jane Street is known as one of the companies with the most technically difficult interview processes, so that gives then a unique perspective regarding tech hiring.

How do their hedge funds perform compared to benchmarks?

Re: Unraveling of the tech hiring market

#5

Post by elemeno »

tosseraccount wrote: post #4
minimaxir wrote: post #2

Helpful context, since Jane Street may be an unfamiliar company to HN users: Jane Street is known as one of the companies with the most technically difficult interview processes, so that gives then a unique perspective regarding tech hiring.

How do their hedge funds perform compared to benchmarks?

They're proprietary traders (that is, they trade with their own money and don't have clients - unlike a hedge fund), so they're very unlikely to tell the world what their performance looks like. If it's bad, they'd not want you to know, if it's good they'd not want their competitors to know!

Re: Unraveling of the tech hiring market

#8

Post by joshavant »

This has always been a difficult challenge when job hunting for me, and I'd be curious to hear how others deal with this in their careers.

Nearly every job offer I've encountered expects a response within a few days. In practice, I'm usually interviewing at multiple places and at different stages of the interview process at each. The 'exploding offer' system makes applying to multiple companies near impossible for the job seeker.

Sure, I see how it creates leverages for the job offerers to get candidates to accept. However, the flip side is that turns the hiring process into a game of forced, snap decision making, which doesn't necessarily seem to be in everyone's interest, either.

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