Most companies just give out minimum severance. No acceleration of vesting. Healthcare continues for maybe 1-2 months. I know at my current company, I will lose all PTO.
Get ready for the definition of 'decent' to get a lot more scary...
Oh, sweet summer children and children of recession free economies for IT.
If job openings fall to 10-20-30% of current ones and tens, hundreds of thousands of IT workers are fired, good luck getting hired quickly, when any of the few good remaining job opening has hundreds of good applicants.
We'll be back to the days of:
Sure, you can code, your algorithms are efficient and your CV is impressive, but can you tell me how many overloads of string.contains are there in the Foo lang standard library? Ah, you say that's unfair? Well, the previous 10 candidates where just as good as you so we need more. We need you to hit the ground running, be productive the first week and be coaching our experienced devs within the first month.
There's always non FAANG boring crud apps to code.
Which, to be fair, is still almost twice the median household income in the USA
If you intend to buy a family home, chances are there are two people sharing the burden. If you make $120k and the partner $60, you could borrow $540k, for a total home price of $720k if you have 25% starting equity.
That opens up quite a lot of options.
Personally, though, in the current market, I wouldn't borrow that much. It's quite possible that the biggest housing crash in several generations is just around the corner, and interest rates may very well be 15% within 5 years.
Especially if China invades Taiwan.
Hopefully, inflation will go down at around 5% unemployment. But if he has to continue tightening until unemployment hits 6, 8 or 10%, I suspect he will will be forced to eventuall pivot, even if he doesn't want to.
As a consultant, earn 2x as much and work on legacy systems that offer a lifetime of work.
It really is quite wonderful
Only issue would be remote work!
It isn't fun, but it is lucrative
Doesn't mean it won't get really bad, or that you'll be happy with what you find.
So you have 1, maybe 2, data points?
I learned the importance of saving during the good times so I'm less worried now
but it would be foolish to pretend the growth of many was stunted during bad times
https://news.ycombinator.com/newsguidelines.html
Attacking the phrasing is not what we're looking for here at HN. The meaning of their comment is clear.
Well, George RR Martin would be super happy to know he's under 30 :-)
For what it's worth, I'm not under 30 either.
It's light-hearted and slightly irreverent. Whimsical, one might say.
As someone in my 30s, I've always thought of it as an "old-timey/old person phrase", same as sibling comment's "bless your heart".
ZIRP has created an entire generation with absolutely no clue about the very existence of, let alone the harshness of, cycles.
Software engineers are needed all over the place and thus are often easily employable.
Needed as in must have or nice to have?
There are tons of devs creating tons of tech for the sake of creating tech. Cryptocurrencies come to mind, or all those half baked government automation projects where the digital version is in the end slower and more error prone (plus with limited or no recourse in case of failure).
And secondly, sure, they are, but what happens when you have 10 million devs and 8 million dev jobs? Past success is not a guarantee of future performance. Detroit and the car company cities and towns were amazing places to live in, and car engineer jobs were great, decades ago. Until they stopped being great.
it sucks and is unfair, and I might suffer from that myself, but isn't this the very essence of capitalism? if I'm ridiculously good and there are 10 more people who are also ridiculously good, it's going to come down to nitpicking, because we all compete in a market for this same req.
Most developers hitting the market with CVs are bootcamp generated and they don't have the slightest idea (and neither the interest) of what they are doing. They'll disappear as soon as the money does.
Unless you have a family and live in the Bay Area, you should always be able to move to a low cost of living and wait for the recession. It'd cost much less than $30k/year to spend a year in Kuala Lumpur with all your food delivered.
No, it's not.
And I understand this is the market. I'm just pointing is that it's not as near bad as the previous poster has claimed.
I was mentioning small companies in my previous post (think 4-6 devs and maybe a dozen other employees). $100k/yerar can sometimes make it or break it. Tech developers remain inaccessible for these companies making them disadvantaged in this market.
This might explain the crazy seed rounds the eco-system has been going through in the last few years. $3 million seems be the bare minimum for any startup looking to do something technical now.
I'd like to hear the aforementioned spiel about the "advanced Python ecosystem," which to me could mean anything between "knows what a virtual environment is" and "ML/TensorFlow expert."
Tech skills and domain knowledge are transferable and learnable. So if you’re targeting hires, maybe aim for people who excel in non-transferable skills and then just teach them (or pay them to learn) the domain skills.
There’s also the side benefit that if you hire a person and ask them to repeat something they’ve done before, you still need to figure out a growth path for them. But if you hire a person and ask them to do a new-to-them thing, you have the bones of a growth path baked in.
Are they insisting on full-time in-person with in a high cost of living area? (Or a dress code?)
Do they have a policy preventing employees from working on open source software?
Do they have a reputation for requiring things like mandatory overtime or off-hours availability?
I have trouble believing this is true unless they’re answering yes to at least a couple of those questions. If they aren’t, have they considered changing how they’re looking? It wouldn’t be the first time bad leads are due to a recruiter who just isn’t the right person for the job.