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Tell HN: Job interview canceled due to looming recession

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Re: Tell HN: Job interview canceled due to looming recession

#201

Post by h-w »

bradlys wrote: post #185
michaelrpeskin wrote: post #98

I bet the non-profitable, feeding-on-VC startups are getting worried and we'll see more of this. I work at a non-VC-funded, profitable, stable, small place and we're desperately trying to hire. I've never made FAANG/startup income, and I've always felt a little left-out because of that. But we've been stable for nearly 30 years, and have never had the big layoffs or hiring freezes including, dot-com bust, 2008, 2020…

> I've never made FAANG/startup income > we're desperately trying to hire Do you wonder why people aren’t joining?

The extremely high paid FANG income is a thing of the past, already down 50% ytd. I hope you enjoyed it while it lasted.

Re: Tell HN: Job interview canceled due to looming recession

#202

Post by 7thaccount »

ChrisMarshallNY wrote: post #108
daveslash wrote: post #48

Earlier quoted context omitted.

I entered the job market during the 2008 recession. I definitely experienced the "hired... and..now you're laid off" ~ as the saying goes "when times get tough, last to hire = first to fire" . As for laying off senior folks -- I've seen this too; I've seen people who are senior by virtue of just having been there the longest (20+ years) and have had the most pay raises... but don't necessarily contribute as much valu…

Why do people think oldtimers at companies get paid better than new hires? That is the case for traditional companies, but not for tech. I worked for one company (most of the time as a manager) for almost 27 years, and never made as much as new hires at most tech companies. My company got an insane bargain with me, and my whole team, and they knew it. I don't think that cost is the reason that companies like firing o…

HR only understands years of service sometimes. I've seen business analysts doing entry level work with nearly no responsibilities and making ~$140k. It's insane. No matter how much the rest of the company complains, those people are safe until layoffs come.

Re: Tell HN: Job interview canceled due to looming recession

#203

Post by elamje »

Our VC backed company is still hiring! It will totally depend on the situation, but my general advice is that public companies and the hot VC backed cos will do fine. The less capitalized businesses will have knee jerk reactions to this. Plan accordingly! I wrote a synopsis from my experience and talking with friends that are founders as well.

https://www.towardssoftware.com/blog/economic-environment-fo...

Re: Tell HN: Job interview canceled due to looming recession

#204

Post by technothrasher »

michaelrpeskin wrote: post #125
bob1029 wrote: post #106

Earlier quoted context omitted.

> My advise is to find a smaller, stable, profitable place to interview at. This is the answer. Our organization is tiny and works in an extremely boring niche - B2B banking consultants & related software shenanigans. We've been at it since the 90s. If you adjust your expectations just a little bit (i.e. you are now OK using "boring" stuff like .NET/Java), you might be able to get something much more quickly than oth…

Yes, forgot boring! We're kind of boring. Our customers are boring, our technology is boring (Java 8!), but the problems we solve are actually pretty exciting - we just solve them in a boring way :)

Right there with you. Small manufacturing company, been going steady for 51 years, boring as can be (20 year old PCB layout software and straight C on bare metal Arm Cortex), but we've found a good niche solving problems for customers that nobody else will. Being able to attract workers is definitely difficult though, as we cannot pay what the big guys around here can.

Re: Tell HN: Job interview canceled due to looming recession

#205

Post by lupire »

ghaff wrote: post #189
xxr wrote: post #176

Earlier quoted context omitted.

I imagine that FAANGs are sensitive to offering higher and higher proportions of equity pools to keep up with total comp expectations.

I imagine FAANGs will mostly let RSU compensation drift downward as the stock market does.

It will for unvested past grants. New future grants are named in $ not shares, so have to be explicit.

Re: Tell HN: Job interview canceled due to looming recession

#206

Post by ghostly_s »

h-w wrote: post #201
bradlys wrote: post #185

Earlier quoted context omitted.

> I've never made FAANG/startup income > we're desperately trying to hire Do you wonder why people aren’t joining?

The extremely high paid FANG income is a thing of the past, already down 50% ytd. I hope you enjoyed it while it lasted.

Salaries at FANG have been cut 50% in the past 12 months? I have to give that a massive Citations Needed.

Re: Tell HN: Job interview canceled due to looming recession

#207

Post by bradlys »

h-w wrote: post #201
bradlys wrote: post #185

Earlier quoted context omitted.

> I've never made FAANG/startup income > we're desperately trying to hire Do you wonder why people aren’t joining?

The extremely high paid FANG income is a thing of the past, already down 50% ytd. I hope you enjoyed it while it lasted.

If you think those comps were only from last two years - I suggest you go back in historical data. $400k+ wages have been a thing well before the pandemic.

Re: Tell HN: Job interview canceled due to looming recession

#208

Post by dragonwriter »

twblalock wrote: post #151
ineptech wrote: post #121

If you want to be recession-proof, get a job at a non-software company (or in academia, state/city government, etc). In theory, "programmer" is the same job whether you work for a startup or the Minnesota Dept. of Transportation, but in practice they feel like completely different industries. In one, you can make fantastic money but the interviews are famously difficult, the culture can be borderline abusive, and lay…

> In one, you can make fantastic money but the interviews are famously difficult, the culture can be borderline abusive, and layoffs are a way of life. These generalizations are untrue for a lot of companies, and for a lot of teams. Software companies, even FAANGs, can be very relaxed and comfortable places to work. It all really depends on the team -- and you can end up with an abusive boss in any industry. Job secu…

> Software companies, even FAANGs, can be very relaxed and comfortable places to work

And government can be very not relaxed, in both the same and different ways to high-pressure industry jobs.

Re: Tell HN: Job interview canceled due to looming recession

#210

Post by saagarjha »

h-w wrote: post #201
bradlys wrote: post #185

Earlier quoted context omitted.

> I've never made FAANG/startup income > we're desperately trying to hire Do you wonder why people aren’t joining?

The extremely high paid FANG income is a thing of the past, already down 50% ytd. I hope you enjoyed it while it lasted.

I have yet to see comp go down at the high end.
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