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Comment by jejeyyy77 | Hacker News Reader

Personally, being laid off sounds pretty good right about now. Paid vacation before going back into a hot job market for a full remote job.

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The job market seems to have cooled substantially from where I'm looking. I have friends at a lot of different major tech companies and hiring has slowed or stopped in all cases. Earlier this year it was full steam ahead hiring, now it's harder to get reqs, reqs are being pulled, etc.

Now, if you have really in-demand skills / experience that may not matter much. But companies are slamming on the breaks. If I was laid off tomorrow I'd expect it to take twice as long to find a job as it would've at the end of 2021 or early this year. Not "there aren't any jobs" but I wouldn't consider this a "hot" market for the majority of roles.

I think the parent was posting ironically or forgot to add the \s? Otherwise, yeah, folks need to hang on to those '21/'22 salaries if they can. We may not see those again for some time.

Yeah, it definitely depends on what your occupation is. If you're a software engineer it's still crazy hot right now.

I presume it’s web dev because good lord the market doesn’t need more people that only know how to do a React.

The poster above is talking about the SWE job market... If you think it's "crazy hot" at the moment what did you think it was last year?

Job market is on ice now, I used to get dozens of emails from recruiters every week, its trickled down to 1-2 now, which is nice as I am not looking to leave my company but its a stark contrast from 3+ months ago. And its a clear sign that companies are not hiring like they used to.

Depends what your salary expectations are, I guess. Finding a role with the same compensation as a Meta/Google is more difficult than finding one of many dozens of companies that will pay you low six figures and some questionable equity package.

True, prob won't be comparable to a really good equity package from Meta/Google. But seeing a lot of $200K+ cash comp for full remote companies.

Any recommendations for sites/services to look at job openings that aren't obvious? Or are you seeing these through your network or something?

> some questionable equity package

one might argue it's a good time to gamble on a startup.

I'm recently spared from a massive layoff, but it wouldn't have been bad if I was part of that. The severance was 4 month pay plus accelerated vesting (for that 4 months)

I paid off my house thanks to the hot stock market in past 2 years (no one's saying it out loud, but pendamic has been a boom for IT workers), and have some cash cushion to maintain the lifestyle anywhere between 2 yrs to 5 yrs (depending on how frugal I choose to be)

So a 200 base and questionable (but high reward) equity in a startup working on things I'm interested in after a 4 month paid vacation? Doesnt sound too bad.

> hot job market for a full remote job.

I honestly don't think there are that many remote jobs available that pay at the FAANG level, outside of FAANG companies, that is. Unless one goes into consulting, which comes with its own risks even during a non-turbulent and recession-proof market, which most definitely we don't have right now.

It's cooling off. Zombie companies are going to have trouble continuing as rates rise.

people have been saying this for 2 decades. I'll believe it when I see it.

rates haven't been rising for two decades.

there's been a new reason for why "this time is different" for the past 2 decades.

I mean a number of tech companies are declining in value. What would you need to see happen to consider them "in trouble"? More layoffs?

The boom of the past two decades was fueled by low interest rates!

and before that it was the other thing. As I said, I'll believe it when I see it ;)

You're about to.

https://news.ycombinator.com/item?id=32928803

You haven’t noticed a bunch of multi bil tech cos down 90% in less than a year?

Carvana is the poster child of zombie tech co that only made sense in a zero rate environment. Many others like it.

I see your Carvana and raise you a Klarna

I must be pretty out of the loop because these sound like new Pokemon names.

Well, there was at least one significant downturn during that time. Raising rates are causing problems. This isn't an apocalyptic prediction.

Well you can always test the market, it won't hurt anyway.

This. There are more than a few companies where their burn rate + valuation make it impossible to do anything except go full steam ahead. If you lose a billion dollars a year on 500 MM in revenue with 2 billion in the bank and cost of goods sold of 600 MM /yr what else can you do? Hopefully you'll continue growing and get to the point where cutting costs leaves a viable business.

> hot job market

You'd be surprised :). Even Amazon isn't eating up engineers like it was a year ago.

No, there is no hot job market, unless you want to take 30-40% pay cut.

amazon is still massively hiring because they already pip people and they have a 4year cliff where people leave willingly cauz they make less.

also frugality is already looped in amazon values so they wont overhire like google or meta

At least retail/Alexa is on some sort of hiring freeze as I heard.

Problem is the same, lot of businesses get cut or deprioritized

Amazon will have to keep hiring ravenously or they will run out of people to feed to the stack ranking fire.

What job market are you looking at? The small shops with help wanted? I don't know any tech companies on major hiring and not many small companies have had any big rounds to raise and grow on AFAIK...

you don't know any tech companies hiring?

No idea what you‘re on about. I‘ve just been let go from a large fortune 100 company (contract expired) and its been tough so far.

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