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Is the Job Market Dying?

rachdele.substack.com

61–70 of 198 posts

Re: Is the Job Market Dying?

#61

Is there a route for high skilled engineer for going through this mess? Say, I am happy and confident to do all your leetcode/homework assignments + 8h interviews, but I want to be also top candidate as result.

if there is an OSS project that you have your eye on, you can easily get noticed by engaging with them and starting to fix/address small issues or convenience features. I know a handful of people who got hired this way.

Re: Is the Job Market Dying?

#62
post #15

Earlier quoted context omitted.

If you get rejected by the first 5-10 companies you apply to then you need to take a step back and figure out what you are doing wrong, because spamming the same resume to 1000 more companies isn't going to change anything. 5 strong leads is infinitely better than 1000 weak ones.

Negative, ghost rider. I’ve had a fairly consistent 100:10:1 application:interview:offer ratio for about 25 years, including bull and bear markets. It’s a numbers game. There is likely nothing wrong with his resume. You need to have a very wide top-of-the-funnel. There are probably a few Captains Of Industry here on HN who can send 5 resumes out and get 5 offers. These are multiple-standard-deviation outliers.

Before this round, I received a job offer for every application.

I don't need a job right now, but I'm applying to jobs because I see the writing on the wall.

Despite very strong, and publicly verifiable, bonafides, I didn't even get a response from a number of very good (but very large) companies. The smaller and more exclusive companies are responding at a much higher rate, strangely.

So if I'm making it past the harder resume screens, I have to assume that for larger companies, they're just completely failing to read my resume.

Re: Is the Job Market Dying?

#63

My sense is, there is less movement. It's like musical chairs. When more people are changing more often those that have been waiting on the side lines have a greater chance of jumping in and getting a seat. Now that the tempo has slowed down, more people are left standing longer. Some big name layoffs aside, the market feels to be roughly the same size. What's missing is the churn.

I'm in a holding pattern myself. Some personal observations:

1. Leads and cold messages from recruiters are for roles that tend to pay a significant amount less than my current role. Easily 20%-50% less. This tells me that companies are still looking to play arbitrage and sell (fire/layoff) high, buy low. That's a losing game for me. No thanks.

2. I like my team and the work. There are quirks like any company. There's nothing that's motivating me to look for a new job other than occasional boredom or frustration that passes.

3. A fear I have is joining a new company, then getting laid off. Until the layoff trend subsides a job change is not appealing.

4. New hires need to contribute to profitability, not just growth. It's just plain harder to justify hiring and get reqs opened in the current business climate. Part of that is board and exec group think. Another part is higher interest rates and cost of capital. Not being able to depreciate software dev expenses anymore hurts too.

Re: Is the Job Market Dying?

#64

Earlier quoted context omitted.

After getting laid off after the .com bust, I did a variation on 3), accepted a contract job with a terrible company. It got me by until the market improved and got a much better job. The trick in a bad market is to understand that mostly the cool perks are gone, and for a time you need to lower your expectations. I think that is going to be very difficult in this cycle.

Out of curiosity. How long till things turned to be better in these days?

It was years in my case but should arguably have been less. (It wasn't a crap job by any means but didn't pay well by many tech standards at that point.)

It's always been through personal contacts but I've surely been lucky.

Re: Is the Job Market Dying?

#66
post #41
post #8

No, it is not. For those of you who are new here (aka didn't live through the 2000 bubble) welcome to a shitty job market. 1. Your best bet to get a job is your network. If you were a clock puncher, if you didn't go above and beyond, if you aren't the person who is gonna make the co-worker who vouches for you look good... you are not gonna get much help in your network. 2. The next best bet is to either a) start your…

Nope, it's different this time. 1. My entire network is struggling, even the ones who have jobs are worried. Despite being universally acclaimed and vouched for by my past coworkers, it seems to have no impact. Companies don't trust their own employees references right now. 2. Maybe this is changing, but it seems like entrepreneurship is at an all-time low. Nobody has ideas, everyone just wants to go to sleep at a co…

The only 'ideas' allowed are AI and AI if done from the ground up can only be afforded by billion dollar companies, which is why you see nvidia, microsoft, google owning most of it.

The entrepreneurship of ten years ago of two dudes sitting in a house coding apps is gone.

Re: Is the Job Market Dying?

#67
post #15

Earlier quoted context omitted.

If you get rejected by the first 5-10 companies you apply to then you need to take a step back and figure out what you are doing wrong, because spamming the same resume to 1000 more companies isn't going to change anything. 5 strong leads is infinitely better than 1000 weak ones.

Negative, ghost rider. I’ve had a fairly consistent 100:10:1 application:interview:offer ratio for about 25 years, including bull and bear markets. It’s a numbers game. There is likely nothing wrong with his resume. You need to have a very wide top-of-the-funnel. There are probably a few Captains Of Industry here on HN who can send 5 resumes out and get 5 offers. These are multiple-standard-deviation outliers.

I have sent exactly 3 applications in my career and been hired 4 times.

Re: Is the Job Market Dying?

#68
post #8

No, it is not. For those of you who are new here (aka didn't live through the 2000 bubble) welcome to a shitty job market. 1. Your best bet to get a job is your network. If you were a clock puncher, if you didn't go above and beyond, if you aren't the person who is gonna make the co-worker who vouches for you look good... you are not gonna get much help in your network. 2. The next best bet is to either a) start your…

I disagree with #1. Not entirely but it is about perception. Working an extra 10-20 hrs a week for free in return for a chance but no guarantee of a vouch is in itself a bad deal. So while you may have reasons for working long hours, hoping someone has your back is not a great one. Unless you have known them since you were 8 or something and even then.

Re: Is the Job Market Dying?

#69
post #8

No, it is not. For those of you who are new here (aka didn't live through the 2000 bubble) welcome to a shitty job market. 1. Your best bet to get a job is your network. If you were a clock puncher, if you didn't go above and beyond, if you aren't the person who is gonna make the co-worker who vouches for you look good... you are not gonna get much help in your network. 2. The next best bet is to either a) start your…

I’d add one other option: look outside of tech. I knew people who were hit by the dotcom bubble pretty hard but ended up getting jobs in government, academia (I left for a computational research lab myself), non-profits, and high-touch but not tech businesses (e.g. a friend bailed to a law firm - they were flush with cash but none of the partners knew how or wanted to run the IT side of things.).

I’d especially add that this can be good for people without extensive personal networks or who are worried about discrimination. If you’re on, say, https://usajobs.gov they are going to be a lot more fastidious about equal opportunity laws than many private companies and won’t think twice about hiring a middle-aged person with cubicle bod who has to go home at 5pm to pick up their kids rather than grabbing beers after work.

Re: Is the Job Market Dying?

#70
post #31

I know that some companies are developing AI-based interview products. In a video conference, the AI asks questions and then evaluates the candidate's answers, giving a score. This can save a lot of time for the interviewer. Such a world is quite scary.

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