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Tech jobs market normalizing as July unemployment dips

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Re: Tech jobs market normalizing as July unemployment dips

#41

Post by nebula8804 »

po8tin wrote: post #32
harryVic wrote: post #13

Earlier quoted context omitted.

I highly doubt it. I hope I'm wrong but there were far too many companies that raised 100s of millions with no kind of business model during the 2021 bubble. Those companies would have to go out of business before the market can go back to exuberance again. As an example this company https://www.gather.town/ has raised $76 million.

The potential ripple effect is too big to ignore for much longer. 100,000 engineers is tip of ice berg when it comes to number of people feeling the squeeze. Social media commentary has been trending towards outright hostility towards the rich and politicians, not just in the usual discourse hellholes like Reddit and Xitter, but even here (I have access to dashboards that model and weight discourse; technically propr…

Ok i'll concede that a few people will get modest raises through protests and strikes but thats just after years of stagnent wages and being cheated. But please, you've been looking at your dashboards for too long. This country is too fat and too scared of their government to do anything. Especially upper middle class SWE in between jobs. They probably just vote in Trump again as a form of "revenge" completely forgetting that he did squat for the regular person last time. Thats the highest level of uprising you can come to expect in this country.

The fact that so much capital is fleeing everywhere else into the US shows that the people at the top have gotten everything locked down here. Nothing major is really coming. The progressive left is effectively dead, the far right is gasping its last breath. Where is this rebellion going to come from?

Re: Tech jobs market normalizing as July unemployment dips

#42

Post by darknavi »

maximinus_thrax wrote: post #36
darth_avocado wrote: post #16

I would hardly call this normalizing. > Finding the IT workers they need to meet hiring goals or complete projects is a struggle for more than two-thirds of executives This should tell you everything you need to know about the market. Jobs are being added, but the quality of jobs has deteriorated. If 1000 people were laid off from Google and 1000 jobs opened up for contract roles in consultancies that pay below marke…

> I’m talking engineering at Albertsons salaries. Anyone from Blind can confirm that a tech job at Albertsons is going to be the peak of anyone's career.

Are the engineers allowed to sit at all or are they written up if they do?

Re: Tech jobs market normalizing as July unemployment dips

#43

Post by paulddraper »

the_only_law wrote: post #24
junon wrote: post #22

Earlier quoted context omitted.

Seconded. Plus what is up with recruiting culture lately? The ghosting is worse than online dating at this point. There was a time I was annoyed at the canned rejection emails but I'll be damned if I even get a one word "no" these days.

> The ghosting is worse than online dating at this point. Honestly, when I do several rounds and travel 2 hours to your stupid office, I’d hope I’d at least get a fucking yes/no.

It's laziness.

Re: Tech jobs market normalizing as July unemployment dips

#44

Post by UncleOxidant »

darth_avocado wrote: post #16

I would hardly call this normalizing. > Finding the IT workers they need to meet hiring goals or complete projects is a struggle for more than two-thirds of executives This should tell you everything you need to know about the market. Jobs are being added, but the quality of jobs has deteriorated. If 1000 people were laid off from Google and 1000 jobs opened up for contract roles in consultancies that pay below marke…

Yeah, I've been seeing tech contracting jobs paying in the $60 to $70/hour range that are very similar to what I was doing last year making $100+/hour.

Re: Tech jobs market normalizing as July unemployment dips

#45

Post by 1-6 »

darth_avocado wrote: post #16

I would hardly call this normalizing. > Finding the IT workers they need to meet hiring goals or complete projects is a struggle for more than two-thirds of executives This should tell you everything you need to know about the market. Jobs are being added, but the quality of jobs has deteriorated. If 1000 people were laid off from Google and 1000 jobs opened up for contract roles in consultancies that pay below marke…

You don't read Blind, do you? Albertsons is highly respected in that community.

Re: Tech jobs market normalizing as July unemployment dips

#46

Post by jhatemyjob »

frozenport wrote: post #34
frfl wrote: post #12

Earlier quoted context omitted.

I asked the HN crowd's perspective just over a week ago [1] [1] https://news.ycombinator.com/item?id=37111560 I guess we can ask again. HN readers, what's it like for you right now trying to find a job?

Intern I just hired as a junior compiler dev said he got silence from all applications. Guy had three prior internships, and great GPA from a top school. It was a really hard to advocate for his hire because we could get somebody with ten years of experience. And this is even with my policy of ignoring anybody from Google.

Why ignore Google peeps? Cuz of salary expectations? Or cuz they suck?

Re: Tech jobs market normalizing as July unemployment dips

#47

Post by shams93 »

darth_avocado wrote: post #16

I would hardly call this normalizing. > Finding the IT workers they need to meet hiring goals or complete projects is a struggle for more than two-thirds of executives This should tell you everything you need to know about the market. Jobs are being added, but the quality of jobs has deteriorated. If 1000 people were laid off from Google and 1000 jobs opened up for contract roles in consultancies that pay below marke…

Yeah here in LA its especially bad with the hollywood strikes competition for work has never been more intense.

Re: Tech jobs market normalizing as July unemployment dips

#48

Post by calvinmorrison »

woodruffw wrote: post #21
calvinmorrison wrote: post #20

Earlier quoted context omitted.

being just a regular IT person with 15+years experience and getting paid fairly well for what the local market is, whats the chance of a normal person working at a place that pays $700,000 as a SWE? How do you even approach that? Does someone mid career have a chance to pivot?

Almost nowhere pays $700k for a SWE. These numbers come from stock grants or similar financial instruments; that money gets realized eventually , but it's not guaranteed in the same way that a fortnightly bank deposit is.

Ok 356k then?

Re: Tech jobs market normalizing as July unemployment dips

#49

Post by hilbertseries »

woodruffw wrote: post #21
calvinmorrison wrote: post #20

Earlier quoted context omitted.

being just a regular IT person with 15+years experience and getting paid fairly well for what the local market is, whats the chance of a normal person working at a place that pays $700,000 as a SWE? How do you even approach that? Does someone mid career have a chance to pivot?

Almost nowhere pays $700k for a SWE. These numbers come from stock grants or similar financial instruments; that money gets realized eventually , but it's not guaranteed in the same way that a fortnightly bank deposit is.

Stock grants are typically vested quarterly, sometimes after an initial waiting period of 1-2 years. RSUs are just cash, I don’t see how they would not be considered being paid. They certainly show up on my W2.

Re: Tech jobs market normalizing as July unemployment dips

#50

Post by 1-6 »

calvinmorrison wrote: post #20
zuhayeer wrote: post #10

We published the Levels.fyi 2023 mid-year compensation report earlier: https://www.levels.fyi/blog/2023-mid-year-report.html While volume of hiring may have been lower overall so far this year, median compensation has generally remained steady or increased in the first half of 2023 relative to the last half of 2022 for most roles. In particular, the median for software engineer compensation stayed the same, while rol…

being just a regular IT person with 15+years experience and getting paid fairly well for what the local market is, whats the chance of a normal person working at a place that pays $700,000 as a SWE? How do you even approach that? Does someone mid career have a chance to pivot?

To answer your question on how to make lots of money mid-career, think about how you're scaling yourself. Are you an IT person supporting a 20-100 person team at a small company? You gotta learn how to scale your time and effort by impacting more than that. You'll have to impact more than 2 million people to get to 700k.
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