University student recession preperation starter kit

Spotify smcduck
Jul 11 12 Comments

Never worked during a recession, and I have no idea how it affects larger tech companies compared to finance companies.

How should I prepare in the possible case of an upcoming recession? Stay at one company and try to climb as high as possible? Start my own company and hope that I’ll be one of the last ones riding the wave, as raising investments will be extremely hard for the next few years?

I have some studying left, so I figured that I could always go back if I’ll end up getting fired during a recession.

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TOP 12 Comments
  • Amazon broke&dumb
    This is the 121st consecutive month of US economic growth, totally unprecedented. Unemployment too is at record low. Stop being paranoid and enjoy life.
    Jul 11 2
    • Spotify smcduck
      OP
      Username checks. But really tho, I just realized that I have no backup plans whatsoever. I’m not investing and I might graduate just at the worst possible moment since 07/08. There must be something that I could do.
      Jul 11
    • TripAdvisor hodlbtc
      Gap between executives and working class is also at an all time high,
      wage has been almost stagnant for past 25 years, while executive salary went from 20x to around 40x median employee salary of same company during that time
      Jul 11
  • E*Trade / Finance cbEV72
    You’ve already done the most important step: you were born in USA. Forget about it, you’re too young yo be worried about it. You live in USA, nobody’s ever hungry or on streets involuntarily here.
    Jul 11 4
    • LinkedIn
      tendies

      LinkedIn

      BIO
      sex work, quantum computing, and crypto HFT
      tendiesmore
      I'm not sure about that. I think plenty of homeless people just got dealt a bad hand in life in terms of brain chemistry etc.
      Jul 11
    • E*Trade / Finance cbEV72
      Call it chemistry if you wish but he’s in college and thinking of coming recession his chemistry is fine I recon
      Jul 11
    • Spotify smcduck
      OP
      I wasn’t, but I guess European holds true in this case as well. My worry is that I won’t be able to move to US during recession. My second worry is that I wouldn’t be able to hold job during one in the US.
      Jul 12
    • E*Trade / Finance cbEV72
      You may not be able to get a job, hold it or even come here, true. Nothing you can do about it now. However if you’re in Europe you’re not going to be hungry. Second, I’ve been through multiple cycles and observe that somehow some people are never unemployed. Think if this someone always has a job. Why shouldn’t it be you? If you’re better than 90% then you’ll be fine under all circumstances.
      Jul 12
  • Microsoft @FB
    Just don’t get into a ton of debt. All those fools that rely on selling their RSUs as soon as they vest in order to pay their big mortgages will be homless if the market tanks.
    Jul 11 0
  • Tableau Lizg42
    Im also a rising senior in college and I feel what youre saying. I’m not really sure what exactly is the best call to action for us. I just want to recruit for full time as soon as possible while everyones still hiring
    Jul 13 0
  • New / Other
    DuQvV7y

    New Other

    BIO
    Did stuff. Hustled hard. Retired
    DuQvV7ymore
    Guns. Ammo. Ramen. Water. Diamonds.

    Or CTFO

    Even in the 2nd worst recession of the last 100 years, employment was at 91%.

    Take another hit of the kush. You’ll be fine.

    Cheers.
    Jul 11 1
    • Microsoft @FB
      Diamonds have a really bad resell value. Gold is the real deal.
      Jul 11