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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

#401

Post by DeathArrow »

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 salary also depends on where you live. If you get a salary from a small company in a place where is cheap to live, you might have the same level of living as someone working for a FAANG in The Bay Area.

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

#402

Post by ChuckNorris89 »

eastbound wrote: post #390
Solvitieg wrote: post #252

Earlier quoted context omitted.

> Overall, I'd say relax a bit. You're still in a good situation. Recessions are hard for many, but software engineers were among the best off during the last one and I expect will be this time also. The demand for software engineers was driven partly by zombie app and saas companies all competing for "top talent", dependent entirely on free cash but without sustainable business models. On top of that, the "demand" n…

At risk? We’ll just stop having overinflated salaries. The current situation is insane for employers: - Employees are not willing to put a little extra (paid extra, I mean - and we’re at the 35hrs week here), - Not willing to study afterwork to improve their career, - Not willing to work on legacy products where we pay them 40% more. - In the first 2 years, I can pay someone 35 -> 50 -> +10k bonus, and they’ll leave…

Where are you located that you have a 35h week while enjoying such great benefits like employer investing in your training?

I'd like to move there.

In my EU country the working hours are 38.5 which isn't as good as 35h, but it isn't that bad, but no employer hires you to invest in your training. Every company wants only seniors, preferably for junior wages, and scream there's a shortage while offering no WFH because "management doesn't believe in WFH" and "the culture of working in the office is better".

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

#403

Post by kortilla »

eastbound wrote: post #390
Solvitieg wrote: post #252

Earlier quoted context omitted.

> Overall, I'd say relax a bit. You're still in a good situation. Recessions are hard for many, but software engineers were among the best off during the last one and I expect will be this time also. The demand for software engineers was driven partly by zombie app and saas companies all competing for "top talent", dependent entirely on free cash but without sustainable business models. On top of that, the "demand" n…

At risk? We’ll just stop having overinflated salaries. The current situation is insane for employers: - Employees are not willing to put a little extra (paid extra, I mean - and we’re at the 35hrs week here), - Not willing to study afterwork to improve their career, - Not willing to work on legacy products where we pay them 40% more. - In the first 2 years, I can pay someone 35 -> 50 -> +10k bonus, and they’ll leave…

> the first 2 years, I can pay someone 35 -> 50 -> +10k bonus

You pay them such terrible wages and you’re surprised they leave? You can make $35k at in-n-out shilling beef on a bun.

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

#404

Post by bobkazamakis »

UncleEntity wrote: post #370
indigodaddy wrote: post #250

Earlier quoted context omitted.

Do yourself a favor though and don’t get any student loans. You’ll be setting yourself up for a future of pain.

That’s really bad advice unless you’re going into a field where you can’t possibly ever pay it back. My sister wouldn’t be a pharmacist without student loans and she is about as far from living in pain as someone can get.

>That’s really bad advice unless you’re going into a field where you can’t possibly ever pay it back.

This is really bad advice if a degree doesn't increase your salary enough to offset the cost.

>My sister wouldn’t be a pharmacist without student loans

She would if the degree didn't cost out of pocket in the first place.

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

#405

Post by spixy »

WoodenChair wrote: post #399

This is totally anecdotal, but earlier this month, in a two week period, I interviewed with 8 different companies. None of them pulled out or hinted they were pulling out. I wrote about the experience here: https://www.observationalhazard.com/2022/05/my-experience-wi... I bring this up to present a counter to your experience and encourage you to keep applying. While I'm doubtless many companies have/will pull back, t…

Thanks for you submission. I think it is not up to HN standards to draw conclusions from n=1 as OP did.

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

#406

Post by lotsofpulp »

mostertoaster wrote: post #373
skinnymuch wrote: post #295

Earlier quoted context omitted.

Most people in 2010 would’ve taken a $500B or even $300B market cap FB as a major tech company right now without any expectation of getting too much bigger than that ever. $300B, $400B, $500B are still top 25, 15, and 10 in the world today.

But would’ve they predicted the that value of those 300B US dollars would be worth so much less? Many tech companies during COVID gained legitimate value, just like many housing markets, but most the increase in their US dollar price was simply the value of the dollar being less.

> But would’ve they predicted the that value of those 300B US dollars would be worth so much less?

I hope so. It has been the consistent course of action of the federal US government for many, many decades to provide a backstop for broad market asset prices at the expense of the purchasing power of the dollar.

All parties in positions of power benefit from increase in asset prices. The politicians, the business owners, the land owners, the 401K owners, the taxpayers (via defined benefit pension tax liabilities).

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

#408

Post by dchftcs »

dcchambers wrote: post #309

> Is demoralizing to find out I spent 4 years in school just to get into a really harsh job market. I know it doesn't make your experience any better, but this is *not* a harsh job market. Yes, some companies are pulling back/slowing down/pausing hiring, but there are still far more software jobs available than people to fill them. > What companies or roles will be more resilient? Those that are or can quickly become…

2001 was a harsh job market. 2008 was a harsh job market.

I think 2022 is still a better job market than most of the past decade.

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

#409

Post by zmxz »

kortilla wrote: post #403
eastbound wrote: post #390

Earlier quoted context omitted.

At risk? We’ll just stop having overinflated salaries. The current situation is insane for employers: - Employees are not willing to put a little extra (paid extra, I mean - and we’re at the 35hrs week here), - Not willing to study afterwork to improve their career, - Not willing to work on legacy products where we pay them 40% more. - In the first 2 years, I can pay someone 35 -> 50 -> +10k bonus, and they’ll leave…

> the first 2 years, I can pay someone 35 -> 50 -> +10k bonus You pay them such terrible wages and you’re surprised they leave? You can make $35k at in-n-out shilling beef on a bun.

What a terrible person, doesn't have access to infinite money and can't afford to overpay underskilled staff.

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

#410

Post by kortilla »

tomatowurst wrote: post #372
jedberg wrote: post #223

I dropped out of school in 1999, and got laid off in 2001 at the start of that recession. I couldn't get a job in 2001 or 2002, so I went back to school and got scholarships to live off of, and graduated in 2003. Recession was still ongoing but I got lucky and had a friend from the first job help me get a job, but other than that, I wasn't getting a lot of interviews. I had friends who were getting hired and then lai…

Unfortunately this will be a 3-sigma recession. Once every 100 year type of thing. The last one lasted 10 years followed by a major world war. If you want to look at what happened to advanced economies that got a taste of credit bubbles Japan is a very good example. 40 years later and still have not reached their ATH. So if that dot com bubble lasted 2 years, this recession will last a lot longer. In addition the doo…

Why is that unfortunate? You stand to make millions if you’re correct and willing to put your money where your mouth is.
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