Hi, I have an sde offer from Capital One. I want to accept but am concerned that there will be immediately shortly after I join. Does anyone know if there are rumors internally about layoffs? Or if this the company overhired and will be downsizing like everyone else? Thanks TC pre crash: 240 YOE: 6 #capitalone
Low for SWE. Still a huge lack of engineers so it’s unlikely they’ll be let go. What level would you ge coming in as?
They tried to downgrade me to mid SWE after interviewing for a senior position but they had no reqs opened. I assume C1 is just lacking senior SWEs?
Offer is for senior. Is it jjst swes or everyone on the tech side that’s generally low, like SDM, Product Managers, etc?
TC?
Updated
Heard from non tech folks that hiring is basically frozen, year end reviews will be very cut throat and lots of "moving people out"
Non tech meaning non technical working in the tech space (pms pgm etc) or like finance side analysts, associates?
Anything not swe.
Remember some groups in bank actually make money market going down . They are big bear shorts and do hedge trades
There was a joke GOldman shorted its own shares in 2008 to make profit
Most banks do not do prop trading anymore. Whether they lump those activities in their AM side of the house is a different matter. They can offer CDS and other hedges to make money though.
They are hiring only Manger/lead and above
It's hiring freeze time
What is your YOE
@op: we are not over hiring. Mostly you are backfilling a critical position or it’s a new initiative which the board already approved. Which lob are you joining? Context: Core businesses are alright and profitable. Some businesses like auto and commercial bank have had an outsized impact due to increase in interest rates. We lost a lot of folks during the great resignation and we are hiring now because it’s cheaper for us
Don’t want to share too much but I appreciate the info. Do you know if hiring for new grads is still going to happen. Asking because I have a family friend who is coming in as an sde this summer. So curious if I should tell her to begin looking for a backup?
I think the TDP program is on a pause right now. Not sure but definitely ask her to apply everywhere.
pretty likely
Aren’t banks having a tough time too though? Been seeing things about no bonuses?
Yes, banks are a safer place. That's why Goldman is planning on laying off 4k workers. The truth is, no company is technically safer in this environment. If you think otherwise, you are too naive.