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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

#461

Post by mickael-kerjean »

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…

> but there are still far more software jobs available than people to fill them

As a contractor I was pulled out the second thing started to turn ugly when covid came in. At that time, they were a lot more people looking for work than job offers. Agencies I was in contact confirmed every position they had got filled with > 100 resume received for each in the span of a few days.

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

#462

Post by kgwgk »

aixi wrote: post #436
ChuckNorris89 wrote: post #415

Earlier quoted context omitted.

Maybe they're in an European country where that would be a good wage.

In most EU countries that is not a good wage

Depends on your definition of good. 50k+ is above average (almost?) everywhere and is more than twice the EU average.

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

#463

Post by pepy »

scarface74 wrote: post #328
dghlsakjg wrote: post #218

Earlier quoted context omitted.

Total comp has likely come down, not salaries. If a significant part of your comp is in stock, then yeah, that portion of your pay is down potentially 70% or more in six months (Netflix). There’s probably some employees at FAANG that are negative on their equity.

Netflix historically paid in all cash. Recently, they started letting their employees choose.

paid cash on the way up, paying stock on the way down, lol

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

#464

Post by DebtDeflation »

scottlamb wrote: post #196

> I hope some experienced people in the industry can give some hope and advice. Is demoralizing to find out I spent 4 years in school just to get into a really harsh job market. First pandemic, then recession? F... 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. > I wan…

I've been in the industry for 27 years now. People who entered the tech job market after 2015 are in for a rude awakening IMO. Especially those whose experience is primarily FAANG-MULA and similar. This market very much reminds me of 1997-2000 and 2001-2003 was UGLY.

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

#465

Post by saturnaga »

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…

The good thing though is that history is basically meaningless as far as predicting any of this.

The bright side to all this is there isn't much hope to get out of this besides software.

Life doesn't have a low volatility, constant upward drift towards personal nirvana. This is going to be a big bump in the road but things will get better on the other side. We eventually cleared and went way beyond the dot com bubble and we will go way beyond the past 15 years at some point in the future.

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

#466

Post by gitfan86 »

DebtDeflation wrote: post #464
scottlamb wrote: post #196

> I hope some experienced people in the industry can give some hope and advice. Is demoralizing to find out I spent 4 years in school just to get into a really harsh job market. First pandemic, then recession? F... 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. > I wan…

I've been in the industry for 27 years now. People who entered the tech job market after 2015 are in for a rude awakening IMO. Especially those whose experience is primarily FAANG-MULA and similar. This market very much reminds me of 1997-2000 and 2001-2003 was UGLY.

You just have to ask. "Was the business plan was to keep getting VC money or crypto money for the next 5 years before being profitable." If the answer is yes, you should expect huge layoffs or bankruptcy in most cases.

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

#468

Post by mijoharas »

latency-guy wrote: post #148
pbhjpbhj wrote: post #115

Earlier quoted context omitted.

Do they literally do the whole hiring process, or do take use a central hiring department to help them. It sounds really inefficient to have every team duplicate hiring personnel? Though of course you need the team to be in control of the process. Do the teams organise any other company wide functions in that way? Hardware procurement, maybe?

It has to be team based. I currently have an active offer with Microsoft, and had multiple conversations with the hiring manager last week. I have gotten verbal numbers. Nothing in writing though so it could always turn out a dud. Which will suck, but one step at a time. Satya also announced last week that everyone below ~L67 is getting an adjustment to their salary.

Sorry, I'm not familiar with Microsoft's internal structure, but do they have (I assume over) 67 different salary bands?

Wow...

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

#469

Post by Jensson »

onion2k wrote: post #420
scottlamb wrote: post #196

> I hope some experienced people in the industry can give some hope and advice. Is demoralizing to find out I spent 4 years in school just to get into a really harsh job market. First pandemic, then recession? F... 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. > I wan…

I remember Google's recruiting slowed down in ~2008. [edit: 2009? Maybe not right at the start of the recession.] [1] So sometimes yes. On the bright side, it's rare for profitable large tech companies to lay off software engineers, so if you get in, you're pretty safe. I don't think Google has seen the impact of a recession yet. It was 4 years old in the dot.com era, and insulated from the effects of the recession b…

> It was 4 years old in the dot.com era, and insulated from the effects of the recession by a steady stream of VC money

Google received its last funding round 1999, after that they were profitable every single year. Modern start-ups aren't anything like Google back then. Google survived the dotcom bust since they made money, if they depended on VC funding they would have gone bust then as well.

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