Specifically looking for input from people over 30. what can one do to preapre for the worst. I started working 2 yrs and have recruiters reaching out to me every 3-4 days . TC is pretty good , but could be better. What do you think will happen to the job market in the tech indistry if we have another event like 2008.
LOL
Most start up run out of money and die. The big company will layoff people. It’s going to be rough.
2008 was not bad for me. I was at a manufacturing related tech company that cut back to 4 days a week but found another job pretty quickly along with a 60% pay increase. This was also in a really small city with a much smaller job market than most places.
Umm...
Nothing changes for profitable companies and life is extra sweet. Less profitable companies may layoff. Overall not a big deal. If anything downturns are when the bling community move from middle class to wealthy.
So it would be a good idea to join FB Or Google over Amazon/Uber for job security right?
@Siemens Wait, you're grouping Uber and Amazon together??
Increase your TC and your savings rate while the sun is shining. Who knows when something will stop this wild TC circus, for you or for all of us!
The focus on long term projects with higher risk and investment will likely get de-prioritized.
Depends on what caused the bear market. I was unemployed for the entire year of 2002 but 2009 barely slowed me down.
I think coronavirus is going affect the stock market very badly in the coming few months. That’s what got me thinking about this.
I’ve been in this game more than 30 years and started my career in a bad market. Code’s gotta get written and as long as the labor market isn’t seriously distorted, you’ll be able to earn. The turn of the century tech bubble coincided badly with wrap-up of y2k work and led to too many engineers chasing too few jobs. As long as that condition doesn’t repeat (it didn’t in 2009), it won’t be too bad. It will be harder to find and keep jobs and pay will go down for a while but it shouldn’t be as much of a disaster. I think this nonsense where people are getting 500k TC from their stock runups will certainly play out, though, but it wouldn’t necessarily take a bear market to cause that either.
Copypasta. "Oh, my sweet summer child! What do you know about layoffs? Fear is for the crash, when the RSUs fall a hundred percent deep; fear is for the falling knife, when the job offers hide for years and devs are born and live and die all in unemployment. That is the time for fear, my little Lord."
It is a different mindset in a bear market. It is like people who lived through the Great Depression. If you don't get laid off, you will have to do more with less. You can prepare by saving a nice nest egg and reducing your expenses, if possible, such as housing. In general, in tech, the main thing to try to be is employable, so focus on that. Change is constant.
Things will get worse. Then they’ll improve and get better again. But your grammar will still suck.
🤣🤣
I’m typing on my phone jackass