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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

#241

Post by Solvitieg »

bradlys wrote: post #207
h-w wrote: post #201

Earlier quoted context omitted.

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.

The truth is somewhere in the middle. High comps have existed forever, but they have also been handed out like candy the last few years.

If you're in the bay it might be hard to see, but high comps spread rapidly across the country, to Canada and to some parts of Europe. It became more commonplace hence why everyone and their dog has been trying to get into the industry.

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

#242

Post by iepathos »

This is not the situation for any startups who have already secured funding with a decent runway for expansion. As a software engineer, you're living in a golden age for your profession. Most tech companies are offering significantly higher salaries and bonuses now than pre-pandemic. There are not nearly enough engineers to fulfill the needs of all the successful tech companies. Best advice I can give you is to make sure your coding skills are up to snuff. Use sites like leetcode or a book like cracking the coding interview to make sure your technical interview skills are top tier and you can get hired by any major tech company with a 120k-300k salary to start depending on the company and your skills. As far as roles, data and machine learning engineers are seeing the biggest jump in salaries upwards of $25k bump in last year or two. Good luck!

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

#243

Post by dgfitz »

michaelrpeskin wrote: post #229
no_wizard wrote: post #135

Earlier quoted context omitted.

I’m sure you’ll get some interests folks if you post where you work here on HN!

I’d like to. I’m always caught off guard when the Who’s hiring comes around and most of our HR dept isn’t on HN to make a post. I need to make a throwaway some time and post an ad here (not looking to tie my account to real life right now)

I am slightly amused your account name appears to be your real name =)

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

#244

Post by Solvitieg »

twblalock wrote: post #113
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…

FAANGs are slowing down and freezing hiring too. It's not just startups that are worried.

There are also recently IPO'd companies that are dependent on share dilution. This was in the Wallstreet Journal today.

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

#245

Post by guyfloatingaway »

We're desperately trying to hire for my team. If you have Java experience consider looking into fintech. The pay isn't as great as SV but the benefits are so much better. This is the first SE role I'm in where I am only assigned work for 40 hours a week and am expected to not work any extra.

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

#246

Post by [deleted] »

michaelrpeskin wrote: post #240
rmbyrro wrote: post #182

Earlier quoted context omitted.

> we're desperately trying to hire Perhaps this is a good place to leave a link to your hiring page...

We’re small enough that it would tie my account to me. Not wanting to do that. Maybe the next Who’s Hiring I’ll have a throwaway ready and do that.

[deleted]

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

#247

Post by kypro »

kristopolous wrote: post #220

Interest rates have changed how easy money is, now unit economics has to work and the blitzscale and monopolize model doesn't have the capital to fuel itself That's why classic blue chips are up and all the creative accounting, exotic pricing, complex funny money stuff is crashing hard. Anything that's not super easy to understand is doing terrible. Look at who's up over the past 6 months. Johnson & Johnson, Kellogg'…

With the yield on the 10 year being at 2.75% I think it's fair to say this is much less about interest rates and much more about public market sentiment. Rates today are still lower than they were in say 2013 or 2018 and much lower than they were pre-GFC.

If public markets refuse to value unprofitable tech companies as highly as they did over the last several years then that puts more pressure on VCs to be more careful with their capital and prioritise companies making money today.

The thing is this isn't a sustainable trend because most smart tech entrepreneurs understand that startups that prioritise profitability will typically have their market share eaten by a competitor that prioritises growth at all costs.

Where I think some adjustment is probably healthy is for companies like Uber or Airbnb. These companies have a large enough market share that prioritising profitability probably wouldn't be a bad idea. My guess it that unless rates go much higher this will be a temporary set back, although the days of unprofitable tech IPOs are likely over. Going forward we'll probably see tech companies hold off on publicly listing until they've reach sufficient scale and profitability.

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

#248

Post by redredrobot »

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.

Completely untrue. Just finished up my interview process and my experience was that comp is higher than ever at the strong FANGs (I.e not Netflix). Microsoft and Amazon just massively bumped their comp maximums. Google was good as ever. Pre-ipos cash comp is still very strong although they are currently relying on previous stock valuations so the comp isn’t as good as they claim right now

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

#250

Post by indigodaddy »

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…

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