AI has not taken the jobs yet. The companies are making each worker do more work. They want to increase profits. It is about keeping the shareholders happy.
Keeping the shareholders happy i not practically different from keeping the CEO happy. I don’t know why people throw this term around like its some deep insight. No shit the company owners want to make a profit thats why the company exists? 🤓🤡🤡
It depends where your job is located. In the US, they just offshore everything to India or Mexico. Unless you work for the gov, it's not even worth being in the tech field in the US at this point. No job security at all
as long as the employees don't have to work overtime and the wage meets the national minimum, employees can't do much. But if the employer cross the line, that's a different story
All industries are like this right now. The only work that you can get without jumping through 50 hoops is *security* or *housekeeping* . You almost have to get on your knees and beg for anything else right now.
There is nothing special at all about Tech - and I say that as a tech worker of 25 years. It has gone through up and downs over that time and will continue to do so. As an industry we need to get over ourselves. There's nothing particularly special or noble about working in tech and the industry is saturated with low quality workers who, frankly, aren't worth what they think they are.
By far the most over saturated market for professionals. By farrrr. Bunch of idiots in the industry who believe they are entitled to an adult daycare job. I have friends who are in it so I know
@@user-pz8db3oh9y100% I watched coworkers get let go who admitted they wanted to coasting. Wonder why there now dumped in a market with no relevant skills.
I think the market explains this far more than AI. The thing is CEOs cannot admit that an increase in interest rates fundamentally threatens their business models of scale on VC money then become acquired, so they want to redirect and claim AI is causing the slowdown because it will increase their stock price. Everything is different with a 7% interest rate compared to 0 or 2%. It's still possible to get a dev job but I wouldn't recommend people self teach or do bootcamps anymore because HR will probably filter by degree. Overall I would always recommend someone get a bachelors or masters in CS if their BA/BS was in a different major if they're not already working as a dev.
Even with a degree finding a job is nearly impossible. Graduated a year ago, have 2-years experience by then, fullstack RestAPI examples in portfolio. Too inexperienced according to the companies. Sure I get that but the only jobs available are for 5-years or up. Soon financially bankrupt.
It's not just tech, many industries are totally collapsed right now... retail, banking, restaurants, medicine, commercial real estate etc.... it's just trades that are barely holding on.... government jobs, construction, security, driving, electrical, plumbing, woodworking, metalworking, the basics.
A lot of other fields pay like crap to begin with, relative to the difficulty of the degree (most engineering majors). For every 1 cherry-picked MechE topping $150K at SpaceX or Exxon, there’s dozens working for peanuts at a plastics manufacturing plant in rural Wisconsin. Tech still has a much higher ceiling for IC roles than most other fields.
@@FakeAndTrolled Absolutely, which goes into another collapsing industry: education... worthless degrees and graduates working jobs they would've gotten anyway with a high school diploma and on-the-job experience.
As a 32 year old who just graduated with a Applied Math / CS degree, 3.64 GPA from a California State School, I can say that going into my degree I felt fairly confident I'd get a job. However, now that the market for junior coders/data analysts has pretty much dried up, I got a job doing IT. It's not much, but I'm approaching the IT job as a way to convince the company that I can do more internal work on their systems and can help make/save them money. People who weather this bout of the market will likely all feel they didn't take the straight path that they imagined, but that if they can forge a different path then in the long run they'll be wiser and better for it.
What I've been learning at a steady rate is that there is no straight path anymore. Well, there is, but it has a really narrow gate to it. People who will thrive are the people who go thrive going through the curved, zig-zag, occasionally vertical looped path that still goes forwards in the long run.
@@Oathbetrayer Not gonna happen LMAO. If you have a degree, fast food places avoid you like the plague. Because they know you’re looking to hop to a better job. If you have no degree, then they will happily hire you. They will feel comfortable knowing you’ll stay with them.
Great approach. Patience is often rewarded. I am on my 45 years and have multiple expertise's in completely different fields. I am in the IT for the past 12 years but was carpenter previously. I have worked in multiple countries in Europe, now I leave in Quebec with my family. If I learned something from my almost 30 years of work, is that if you put enough effort into something it will end up paying. So, keep the good work, be patient and do not hesitate to take an opportunity when you are presented with one. Have a nice one!
I am a software developer of 8 months now and still going lol, went from straight up bottom of the stack.. help desk to system admin bouncing around jobs thinking that is all I could do... ITT Tech closed on me So I barley had an associates.. I then moved around as IT.. until I found a company with big software team.. the company needed some odd sysadmin/helpdesk roll filed and I got it. I slowly built a rapport with the dev team and management, A year and a half later they opened up a new Software Developer roll and the head of the application team came to me and asked if I wanted to apply. long story short IT to Dev is a possibility. Could I have went from help desk to software dev? maybe but at the time I thought I enjoyed that line of work but I eventually began to lose interest.
The situation is so insanely dumb atm, you've invested 5 years into education and can't get an internship, while some random bootcamper did a 3 month course and by the time you get a chance for an internship he's already a mid or associate, living the good life, autopiloting and ready to his first tech switch job and get instantly promoted to some senior position at some small company.
Tech has been riding off of low-interest debt for over a decade. Always follow the money. Rubber has hit the pavement, and, surprise, tech is a giant, bloated, venture-driven bubble. 😎
Those who knew prepared themselves. Those who chose ignorance and based their life around this inflated pay now have to deal with the floor disappearing beneath their feet.
@@MrFujinkoYou just can’t have all these things that are contradictory being true at the same time. If tech is a bubble, then why is everyone unemployed? Is it because _that_ many businesses are going under? No. You just need to update/add to your skill set. Code writing is all but automated now, but it’s only a small part of maintaining these massive systems. This is a skill shortage
@@fr5229he was saying the bubble has burst you moron. Can you not read? In other words life is easy when you can leverage at low rates and afford to hire 10 turds in hopes that one is a diamond. Those days are over bucks
i have 20 years of experience and have worked for two of the faang companies, and it’s been almost a year since i’ve found a job. it’s the hardest market ive ever experienced. i used to get recruiters hitting me up daily, now im applying daily and getting ghosted! my best advice is to save that money for a rainy day. but unfortunately, that rainy day is now.
A lot of tech jobs were taken by H1Bs from India. Many American jobs also shipped to India (Java capital). Tech manufacturing jobs were shipped to China. AI can/will be done in India. Millions of eager tech people in India, willing to work 16 hrs/day, 7 days/wk and cheaper.
I read on a forum how some business guy paid an Indian team to make his finance app. After he paid them, they disbanded the contractor company, then cloned the code and created their own finance company. But since it's hard to navigate foreign legal systems, he couldn't really do much
It's always about timing in life. I became unemployed in January, now when I open my Linkedin instead of jobs, I see peers and friends saying they have not eaten in days. This is just not right. Tech is the worst industry to be in. First off all they hired like crazy back in 2020 and now they fire like crazy. Most of managers got into the role without knowing what they are doing and with these high interest rates I don't see a comeback anytime soon.
I got my degree in 2019 and have tons of interesting technical projects. Had nothing but rejections and bait and switch for 5 years. I have nothing but contempt for the tech/software industry. Won't be pursuing it further, getting a regular job and want nothing to do with. Enormous deceptive and annoying shallow corporate scam.
@@VBlackpill100k isn’t anything in most cities especially for a college graduate engineer. Who’s contemptible? The people who hate on working class like you
@@Hmoney0 I don't hate the working class I hate CS grads specifically... especially the ones that refer to themselves as engineers. You're all entitled and just want to get rich quick without having to get your hands dirty.
@@oraz. LOL. You're just one of millions of third worlders who thought someone would pay them 6 figures to write code with no actual experience. There was no deception or scamming involved Rajesh
this is one of the reasons I gave up software engineering for circuit design. Yes, it was MUCH harder to get into circuit design but I don't have to worry about some "new stack" that makes most of my skills almost obsolete overnight.
As a software engineer, the "stack" almost doesn't matter for my job. What matters is knowing how to deliver new functionality for customers while also doing the following: - Preventing bugs/breaking changes/outages (i.e., quality operations) - Keeping everything secure - Keeping stakeholders informed/happy - Doing all of this with limited time/resources - 50 other things that I didn't mention.
It is good to know hardware, software, and firmware. Engineers that know all three are hard to find and replace and the work is harder to offshore and outsource.
"New stacks" don't make skills obsolete overnight, you have absolutely no idea what you're talking about. If you're good with stack A, and stack B is similar, you can learn it in an evening.
@@user-rj1gs4yn8r Bingo. Don't care about the stack at all. I just use Java because its what my company uses. I'll learn whatever else I need to keep my job. I did C and OCaml back in college, and have fucked around with Rust in my free time. However, most of the difficult things I encounter on a daily basis totally unrelated to language. Architectural/business domain issues that exists regardless of the stack.
It’s interesting how tech firms make billions off of someone’s intellectual creativity. Then when they stop making as much profit they layoff digital creators. In my opinion I think this is being done to lower wages by making IT workers fight for limited jobs and be willing to take any job they can at a lower wage. This is the time for creative digital engineers to build your own businesses.
Boom, bust, every sector will see these fluctuations. When I became a pilot in 1999, so many people left the industry after Sep 11, 2001, stating that a recovery was never coming. I have been in that industry for over 30, years and you are absolutely right about managing expectations, and ignoring all the negative noise. Excellent advice!
Recently my company pretty much laid off the entire IT department to save some money during a downturn. All while hiring field techs. I asked the ops manager why they would do that? Why lay off IT guys but not the field techs? His reply was that in 3 months when they need some IT workers, they will post the jobs and get hundreds of resumes of candidates all with the same industry certifications and all willing to work for $50K. But when they need a field tech, a guy who will travel, climb ladders, work on lifts, work in the elements and has skills, a posted job will garner 5 candidates and be lucky to get someone decent. Supply and demand. Simply put in the last 20 years too many want to work in IT. The pool of workers vastly exceeds the need.
it sounds like a coordinated effort, every company fires, make the job seekers desperate for any job, and then mass hire... is that legal, assuming that it is a coordinated effort.
Thank you for these videos bro! I relate a lot as I'm turning 30 this year and I'm about halfway through my CS degree. The insight you're providing here is invaluable!
The wife and I are both software testers at senior levels. We have always been able to find contracts but not now. We both have 20 years in telco. We send our CV for positions where normally the job agents would call us up straight away wanting to put us forwards and we hear nothing at all. We get ghosted all the time now.
I've been in tech for 25 years. What I have noticed is cheap off shore labor work on customer facing apps. But the systems that really generate revenue such as their data warehouses or core production systems are done by American devs.
My cousin recently graduated with B.E (Computer Engineering) and he's having a hard time finding job. Out of 1000+ job applications, he had 3 interviews. He was rejected by 2 and 1 offer, making $18 as an IT Support. Scary times we're living in. For those who have a job (either you love it or not), you better ride the wave and be grateful that you have something because there's a lot of people that have nothing. Be safe out there folks.
I dont knownwhy you’re surprised If your degree is in computer engineering, then software companies wont really like you. Actual conputer engineering companies like Intel and AMD are inly gonna pick the best of the crop because the task is so resource intensive. So if you aren’t gonna do software or hardware then IT is the only option left lmao. Simple logic. Your cousin is a buffoon for getting a CE degree without the talent to actually engineer computers.
I graduated with the same degree 4 years ago in the height of the pandemic, of course all applications I submitted got a response of "We're freezing new hires, we'll keep in touch." I did finally get a job that paid much higher than I anticipated starting at, (VLSI starting pay being around $70k/yr) which was at least competitive but I'm not even doing any engineering. So I'm watching all this happening at my pretty cushy job that I was supposed to be quitting to pursue something actually in industry, now I'm not even sure what I'm going to do. I still plan on quitting this job but maybe after 4-5 years.
In business school they taught me only 21% of tech initiatives succeed. And tech workers are insanely expensive. So when companies cut they go to expensive jibs with low ROI. I’ve worked in finance my whole career, including 99’ 08’ and 20’ and every time IT was the first target for cuts. I’d say it’ll be quite a while before most those jobs come back and when they do they’ll be rebranded and paid drastically less than before.
It seems the fact of the matter was we should have always tailored our employability to a CEO’s cost/benefit psychology. Any other criterion is useless.
Lol i had been thinking If i had a business i would cut down IT staff as much as possible. As long as storage and company cloud demands and security are being met Why do i need to pay a whole ass department. A few capable IT workers is enough. As for support tickets, we can just build them into the IT worker’s maintenance routine, anything beyond that will be the employee’s incompetence
We can not wait on the market. The market is broken and has always been broken. If it wasn't broken there wouldn't be a market. We have to start creating our own value and sell that. The corps are in it for themselves and so should we.
Tech will never be back to the glory days. The industry evolved and when the margins got thin they realized how many useless mouths were feeding off the actual workers. Now they have thinned out the herd considerably they have realized that this lean business model works without impacting their ability to compete. Apple did it best by not going on a hiring spree like the rest. People who were ousted or trying to break in now need to really upgrade their value or seek a job elsewhere. Not trying to be mean but the reality is very much real. This change in the tech environment is even impacting whole cities. Look at Atlanta, the so called "new tech hub" those jobs are gone and it now its floundering.
We're in a cycle going back to the early days of software industry where big companies would ride their big income and neglect innovation. The point of comeback will come when startups start taking the big boys out of business, lest we forget the Yahoo, IBM, Cisco, MySpace, etc.. We are in a career where anyone with a good idea, will and drive, can make something.
I dont want to scare anyone but the reason is very clear which can be explain with only 4 words, yet impossible to fix: 'Outsourcing jobs to India'. Up to Covid, it was only a dream for companies, now it's the reality with no going back .. Every day 2000 Cs graduate in that country, I was never thinking it but this is the end of IT for the rest of the world. I don't think it's possible that it will change ever, rip:/
@@FeedMeLeaks I agree and yet beside the cheap ones, the less cheaper ones are also becoming obsolete. I am living in Poland which was great for IT in EU for very long years, now we barely have any jobs. When talking to HR colleagues, they all mention the same thing, outsourcing to India ..
I also think this market is over saturated with under qualified people who got into the industry post-covid. I am one of those people but thankfully I was able to secure a job, but if I could go back I would have done healthcare
Here is my 2 cents take on AI. AI has made my programming easier at a local problem solving. But overall, my expertise isn’t software engineering, or know what libraries API to call, or step through code. My expertise is understanding the business logics, problem solving for my customers, to develop a coherent plan to deal with ambiguity. These AI cannot do. At least not at the moment.
Well in my situation, I got laid off two days after returning from disability. I am persuing legal action for wrongful termination and discrimination under the disability act. I believe people should persuing legal actions as these companies keep laying people off and employee fight for better compensations in their severance package.
"Tech" has always been a misnomer, it makes you think of productive factories, but tge tech indusyry is just advertising and emails and bs. Of course the jobs are going away, the industry is built on lying about how productive it is.
I've remained in the defense sector as a tech worker, even when every FAANG recruiter was trying to poach post-COVID. Defense is likely the only sector that won't outsource it's tech development and has been a reliable source of employment for me for the last 10 years. The defense sector job market has it's own ebbs and flows depending on political winds, but the point is there is always work in other sectors outside of Silicon Valley.
They over hired a bunch of people based on hype. Now after it became clear the hype was overblown and debt is no longer free the job market is simply correcting cutting out the useless labor in the tech industry from the last two years. Time to move on and not expect a recovery because the mass tech lay off IS the recovery.
I’m coming on 25 years in the tech field and this job market right now is nothing new. It’s just anyone with less than maybe 15 years of experience hasn’t seen this. it’s the same thing that was happening 20-25 years ago... The jobs are going overseas. They’re not going to come back for a long time. When I say a long time I’m talking like more than five years.
I've also got 25 years and this downturn is very unique. We now have fully remote telecommunications platforms (zoom, etc). And yah the local jobs won't be back. They were all be in India or Mexico
Staff Engineer in a multinational Fintech here; new job placements have been reduced drastically as there has been an increase in the usage of Copilot and ChatGPT among SWE of all seniority. Workload for the remaining engineers have been notoriously increasing too.
Stay optimistic. I was a CS grad in 2008 back when the job economy was hell. It returned a few years later. Every industry goes through cycles and it's own ebbs and flows. The tech industry is not immune. You may have to ride it out the first few years after college.
@@AvikNayak_ I do, plan to finish nursing or accounting while looking for cs internships after degree if I can't do something in CS the next two years.
I say this to all my SW friend and none of them agree with me! Having been in this field for 7 yrs and jobless since Jan, with pretty much the same shit happening everywhere, you are right to say that we all should move on!
I've been around the block and I just gave up the 1st two quarters of this year to not even look for a job. I just know the jobs are not out there, and there is a flood of hot trash resumes that experienced dev are getting flooded out of the market.
The weird thing about tech is sometimes they try to disrupt industries that make sense during a bubble. Like self-driving trucks, it made a lot of sense to get tech in there when they were getting 5 dollars a mile, but the tech is not worth it when the drivers are getting $2 a mile. I wish you all the best
I worked as a Senior and Lead Dev before. Companies only hire if they can make a jackpot like hire a Lead for a Junior salary otherwise they skip. Risk management. Most companies can be ran by just a few person's and they only hire like I said when they smell blood. Best thing is to leave the tech market and do some other crap.
I don't know about India, but Eastern Europe is also a hard place to find tech jobs. Maybe not as hard as the West, but a lot harder than 2-3-4 years ago.
My former employer is hiring tons of folks from Poland right now even though I just got laid off. Since European devs tend to make half of what ones in the US do
It's a reflection of the economy. Hopefully it will be better after the elections so mid 2025 - late 2025 we should see positive signs. Many investors are on the fence now.
It's pretty simple: the market goes up and down. It always happens, always has. It's the rule. Tech is down now because of interest rates, just like many other white-collar fields. It's not unique or unprecedented. It's actually by design because the rates were raised on purpose to combat inflation. When the rates go down, jobs will come back. And the rates will go down sooner than later.
And interest rates control how many peoplE are willing to open new businesses This clearly proves how insane most ceos are. They bet their whole livelihood on Loans and interest rates.
And how many go belly up in five years? The jobs are out there although tech fields have been flooded with people owing more in tuition debt than the common sense they should have been using when they didn't get their class of choice the first time due to it being full. I saw the computer field was awash in people when I started with Fortran. Changed to Architecture, made a bundle and retired @ 58. There is also the expectation of top dollar on the first day. The concept of W O R K your way up is dead.
I feel like they all wait for that College kid who doesn’t know he/she is getting paid far less than what they should be. Meanwhile us who know what we’re qualified for have to fight and get gaslighted by the same enployers 😂
I will say this a lot of Jobs I have seen has gone to Mexico City and India. Even defense contractor jobs. There are jobs still hiring but they expect you to know everything front to back basically be a one man dev team for little pay. Also I have seen a lot of immigrants come here with high dollar macbooks and are working for some tech companies that provide community housing its crazy...
It baffles me as to why anyone who's interested in engineering in general chooses software. Companies do not care about software, as 99% of the time their software is not their product - the data it serves/collects/runs ads on is. This results in shitty 'engineering' culture, rampant runaway complexity, severe NIH syndrome, and everything else developers have been complaining about in the last 15 years. It's not too late to go back and get an EE degree.
I had my undergrad in CS but my masters in Engineering. I completely agree with you here, in fact, you can easily freelance and create your own software for clients. You don’t necessarily need to work for a company to do that.
I think you forget the DC politicians restructured tax law which is why it became less profitable to keep software engineers employed. It went from a pretax expense to a post-tax expense. It isn't going to improve. There will be incredibly specialized hires but if you aren't a better coder than a high quality AI, you're not going to get your job back. Best advice is to get a trade job if you're physically able.
While the big environment matters a lot, each job hunt is still its own specific situation. It is certainly possible to get interviews and offers now and people do job hunt successfully. The key is what kind of positions you are targeting and what kind of skill and experience you possess.It's all about positioning yourself optimally even within an advantageous field. If you really want it you have to put in the work consistently and try to get lucky.
I think this was a more novel insight 10 years ago when I was looking for my 1st job, lots of people are aware now of the downsides of the FAANG companies, but apply to the industries and companies that most tech workers aren't thinking of. I ended up starting in a mortgage company and then moving to an insurance company. It was not the career path I had dreamed of, but they need good engineers too, and I've gain valuable skill while be paid fairly well still.
Working in tech: this doesn't really have anything to do with AI. It's because parts of the world are already in a recession. Central banks raised interest rates, which makes it harder and more expensive to secure new funding. As a result, orders and revenue are declining. Companies are having to manage this situation. That's why we've seen initial rounds of layoffs. Now, we need to remember that humans tend to exaggerate. We saw this at the peak of the tech bubble. There are countless CZcams videos of people wanting to join the tech industry because of the high salaries. The only question was: how much do you earn? And now we're witnessing the other side of exaggeration. Currently, companies seem to be laying off more people than necessary. However, they're anticipating worse times and erring on the side of caution. Sooner or later central banks will lower interest rates. Then markets will go down in the first place, because CBs react after bad data in the economy. In the mid and long run this will lead to more money in the economy and the hireings will start again. I expect the current situation will remain for another year or two.
Yeah, it's worse now, but we had a similar situation after the 2008 crash. It was probably around 2012 or 2013 till things "got back to normal". So probably another 2 or 3 years like you said
For what it’s worth, I will say I decided I was done with the “traditional tech job” - most things are moving towards contracts where they can and will get rid of you on a whim (and are more likely to if you are from a underrepresented group; the DEI shit is useless), and I was sick of doing work where I wasn’t even sure of the impact I was having. Now i freelance and do Taskrabbit and Rover, and feel more fulfilled doing that. I haven’t given up on tech - just the opposite. Ironically I have more time to actually do cool tech than I did when I was actually working in tech. My goal is to become an embedded engineer or something along those lines eventually. But for now I am just enjoying not giving 40 hours a week to people who wouldn’t care if I died tomorrow
I mean in overall business there is a weird situation. By using AI as an everyday tool it helps you and on the other side all the people who follow AI as well know that it has already a huge impact on job cuts....and it is happening so fast. My advice: Be as flexible as you possibly can. actually you dont have an alternative, because EVERYBODY needs to be as flexible as possible...from business, to tech to every 'please fill in your favorite swear word' industry. What do you think?
Experiencing a similar thing in Ireland. Great analysis and perspective. Would love more videos on how you do the data analysis, analyse trends. Thank up :)
All you need to do is look at headcount graphs of the major tech companies. The amount of hiring they did from the year or two before, then through the pandemic was insane and obviously well beyond any economic fundamentals. I think the latest employment downturn in the industry has little to do with AI. It’s the realization that the hiring binge was way overdone and now it’s the the time to right-size their enterprises.
Every other software job hunt I've done since 2017 I snagged a great role in a week or two but this market is so rough. I would go work at McDonald's if I thought it wouldn't forever make me unhirable when it shows up on a background check.
I've been a Tech Contractor (Engineer) for 20 years and I've never seen the marked as dead as it is now. It's really weird.
Really worst than 2008
Of course I just happen to graduate into the worst market in 20 year 😅
My brother is a long time tech contractor too. His income went from $180K in 2022 to $33K in 2023. It's on life support
2001-2002 was pretty bad.
25 years here and it's worse than 2001-2002
AI has not taken the jobs yet. The companies are making each worker do more work. They want to increase profits. It is about keeping the shareholders happy.
Keeping the shareholders happy i not practically different from keeping the CEO happy.
I don’t know why people throw this term around like its some deep insight.
No shit the company owners want to make a profit thats why the company exists? 🤓🤡🤡
@@maalikserebryakov You just like to argue. Your comment is pointless.
This is so true
It depends where your job is located. In the US, they just offshore everything to India or Mexico. Unless you work for the gov, it's not even worth being in the tech field in the US at this point. No job security at all
as long as the employees don't have to work overtime and the wage meets the national minimum, employees can't do much. But if the employer cross the line, that's a different story
All industries are like this right now. The only work that you can get without jumping through 50 hoops is *security* or *housekeeping* . You almost have to get on your knees and beg for anything else right now.
Ok black female
@@recursion. A black female with 20+ years of administrative experience including six years at NASA.
Nursing is only guaranteed job. Trades is close to second
@@recursion.😂😂😂😂😂😂
@@BlackFemaleAnd50lol every black woman online is CEO os NASA.
Strong independent type SHIEET
There is nothing special at all about Tech - and I say that as a tech worker of 25 years. It has gone through up and downs over that time and will continue to do so. As an industry we need to get over ourselves. There's nothing particularly special or noble about working in tech and the industry is saturated with low quality workers who, frankly, aren't worth what they think they are.
By far the most over saturated market for professionals. By farrrr. Bunch of idiots in the industry who believe they are entitled to an adult daycare job. I have friends who are in it so I know
@@user-pz8db3oh9yincluding both of you.
Spot on
🎯
@@user-pz8db3oh9y100% I watched coworkers get let go who admitted they wanted to coasting. Wonder why there now dumped in a market with no relevant skills.
I think the market explains this far more than AI. The thing is CEOs cannot admit that an increase in interest rates fundamentally threatens their business models of scale on VC money then become acquired, so they want to redirect and claim AI is causing the slowdown because it will increase their stock price. Everything is different with a 7% interest rate compared to 0 or 2%.
It's still possible to get a dev job but I wouldn't recommend people self teach or do bootcamps anymore because HR will probably filter by degree. Overall I would always recommend someone get a bachelors or masters in CS if their BA/BS was in a different major if they're not already working as a dev.
Do you know how many CS grads and ones w MS are not able to get a job an in severe student loan debt 😂😂😂
@@dronestrikejreven better
HR should filter by experience. Unless they’re really stupid. Experience is still key, and you can get that if you’re creative.
Even with a degree finding a job is nearly impossible. Graduated a year ago, have 2-years experience by then, fullstack RestAPI examples in portfolio. Too inexperienced according to the companies. Sure I get that but the only jobs available are for 5-years or up. Soon financially bankrupt.
@@rdubb77 tats not really true self taught code monkeys are so incompetent its laughable
Former Senior engineer at FAANG here. There's not going to be any recovery, any time soon. Someone had to say it.
THE JOBS ARE GONE FOREVER 🫣😬😢
Your context is FAANG. What do you know about not FAANG?
@@rdubb77 I can tell you that it will be worse for non-Faang.
boom to bust its normal in tech been always this way for 30 yearss
You better get a blue collar job if you want to keep it. Many blue collar jobs now paying 100K. You can’t replace blue collar workers with Ai
It's not just tech, many industries are totally collapsed right now... retail, banking, restaurants, medicine, commercial real estate etc.... it's just trades that are barely holding on.... government jobs, construction, security, driving, electrical, plumbing, woodworking, metalworking, the basics.
I was going to say this. I don't think that tech is specifically worse than any other industry right now
A lot of other fields pay like crap to begin with, relative to the difficulty of the degree (most engineering majors). For every 1 cherry-picked MechE topping $150K at SpaceX or Exxon, there’s dozens working for peanuts at a plastics manufacturing plant in rural Wisconsin. Tech still has a much higher ceiling for IC roles than most other fields.
@@FakeAndTrolled Absolutely, which goes into another collapsing industry: education... worthless degrees and graduates working jobs they would've gotten anyway with a high school diploma and on-the-job experience.
I gave up with tech and work in hvac/r
@@therealmcgoy4968 How long did it take you to transition from tech to hvac?
As a 32 year old who just graduated with a Applied Math / CS degree, 3.64 GPA from a California State School, I can say that going into my degree I felt fairly confident I'd get a job. However, now that the market for junior coders/data analysts has pretty much dried up, I got a job doing IT. It's not much, but I'm approaching the IT job as a way to convince the company that I can do more internal work on their systems and can help make/save them money. People who weather this bout of the market will likely all feel they didn't take the straight path that they imagined, but that if they can forge a different path then in the long run they'll be wiser and better for it.
What I've been learning at a steady rate is that there is no straight path anymore. Well, there is, but it has a really narrow gate to it. People who will thrive are the people who go thrive going through the curved, zig-zag, occasionally vertical looped path that still goes forwards in the long run.
I’m halfway through my Software Engineering degree and I’m 35.
Looks like I will finish it and go work at McDonalds if I am lucky.
@@Oathbetrayer
Not gonna happen LMAO.
If you have a degree, fast food places avoid you like the plague.
Because they know you’re looking to hop to a better job.
If you have no degree, then they will happily hire you. They will feel comfortable knowing you’ll stay with them.
Great approach. Patience is often rewarded. I am on my 45 years and have multiple expertise's in completely different fields. I am in the IT for the past 12 years but was carpenter previously. I have worked in multiple countries in Europe, now I leave in Quebec with my family. If I learned something from my almost 30 years of work, is that if you put enough effort into something it will end up paying. So, keep the good work, be patient and do not hesitate to take an opportunity when you are presented with one. Have a nice one!
I am a software developer of 8 months now and still going lol, went from straight up bottom of the stack.. help desk to system admin bouncing around jobs thinking that is all I could do...
ITT Tech closed on me So I barley had an associates.. I then moved around as IT.. until I found a company with big software team.. the company needed some odd sysadmin/helpdesk roll filed and I got it.
I slowly built a rapport with the dev team and management, A year and a half later they opened up a new Software Developer roll and the head of the application team came to me and asked if I wanted to apply. long story short IT to Dev is a possibility.
Could I have went from help desk to software dev? maybe but at the time I thought I enjoyed that line of work but I eventually began to lose interest.
The situation is so insanely dumb atm, you've invested 5 years into education and can't get an internship, while some random bootcamper did a 3 month course and by the time you get a chance for an internship he's already a mid or associate, living the good life, autopiloting and ready to his first tech switch job and get instantly promoted to some senior position at some small company.
Current job market is purging bootcampers out of the game too.
Tech has been riding off of low-interest debt for over a decade. Always follow the money. Rubber has hit the pavement, and, surprise, tech is a giant, bloated, venture-driven bubble. 😎
Those who knew prepared themselves. Those who chose ignorance and based their life around this inflated pay now have to deal with the floor disappearing beneath their feet.
Make interest rates lower🙃
interest rates are going to go to zero over the next 2 years.... so thats not going to be a factor...
@@MrFujinkoYou just can’t have all these things that are contradictory being true at the same time.
If tech is a bubble, then why is everyone unemployed? Is it because _that_ many businesses are going under? No. You just need to update/add to your skill set. Code writing is all but automated now, but it’s only a small part of maintaining these massive systems. This is a skill shortage
@@fr5229he was saying the bubble has burst you moron. Can you not read? In other words life is easy when you can leverage at low rates and afford to hire 10 turds in hopes that one is a diamond. Those days are over bucks
i have 20 years of experience and have worked for two of the faang companies, and it’s been almost a year since i’ve found a job. it’s the hardest market ive ever experienced. i used to get recruiters hitting me up daily, now im applying daily and getting ghosted!
my best advice is to save that money for a rainy day. but unfortunately, that rainy day is now.
25 years here and I think I'm giving up. I just drive a truck now and it pays the bills.
@@censoredeveryday3320 i hear you man, i’m just doing uber deliveries and driving now.
Ageism probably.
A lot of tech jobs were taken by H1Bs from India. Many American jobs also shipped to India (Java capital). Tech manufacturing jobs were shipped to China. AI can/will be done in India. Millions of eager tech people in India, willing to work 16 hrs/day, 7 days/wk and cheaper.
Work is returning to the US slowly because cheap labor is shitty labor
@@retrorewind6042😂
Not just IN India. But right here.
I read on a forum how some business guy paid an Indian team to make his finance app. After he paid them, they disbanded the contractor company, then cloned the code and created their own finance company. But since it's hard to navigate foreign legal systems, he couldn't really do much
@@stevenismart quite possible .. brave and smart rule the world in short term atleast
It's always about timing in life. I became unemployed in January, now when I open my Linkedin instead of jobs, I see peers and friends saying they have not eaten in days. This is just not right. Tech is the worst industry to be in. First off all they hired like crazy back in 2020 and now they fire like crazy. Most of managers got into the role without knowing what they are doing and with these high interest rates I don't see a comeback anytime soon.
I got my degree in 2019 and have tons of interesting technical projects. Had nothing but rejections and bait and switch for 5 years. I have nothing but contempt for the tech/software industry. Won't be pursuing it further, getting a regular job and want nothing to do with. Enormous deceptive and annoying shallow corporate scam.
I have nothing but contempt for people who got CS degrees and are lashing out because they expected to be handed 6 figure jobs with no real experience
@@VBlackpill Edgy blackpill guy, How did you see right through me?
@@VBlackpill100k isn’t anything in most cities especially for a college graduate engineer. Who’s contemptible? The people who hate on working class like you
@@Hmoney0 I don't hate the working class I hate CS grads specifically... especially the ones that refer to themselves as engineers. You're all entitled and just want to get rich quick without having to get your hands dirty.
@@oraz. LOL. You're just one of millions of third worlders who thought someone would pay them 6 figures to write code with no actual experience. There was no deception or scamming involved Rajesh
this is one of the reasons I gave up software engineering for circuit design. Yes, it was MUCH harder to get into circuit design but I don't have to worry about some "new stack" that makes most of my skills almost obsolete overnight.
You can still be laid off and a foreigner hired to do the same work for 1/8th of the cost. You must work for the gov on classified projects.
As a software engineer, the "stack" almost doesn't matter for my job. What matters is knowing how to deliver new functionality for customers while also doing the following:
- Preventing bugs/breaking changes/outages (i.e., quality operations)
- Keeping everything secure
- Keeping stakeholders informed/happy
- Doing all of this with limited time/resources
- 50 other things that I didn't mention.
It is good to know hardware, software, and firmware. Engineers that know all three are hard to find and replace and the work is harder to offshore and outsource.
"New stacks" don't make skills obsolete overnight, you have absolutely no idea what you're talking about. If you're good with stack A, and stack B is similar, you can learn it in an evening.
@@user-rj1gs4yn8r
Bingo. Don't care about the stack at all. I just use Java because its what my company uses. I'll learn whatever else I need to keep my job. I did C and OCaml back in college, and have fucked around with Rust in my free time. However, most of the difficult things I encounter on a daily basis totally unrelated to language. Architectural/business domain issues that exists regardless of the stack.
It’s interesting how tech firms make billions off of someone’s intellectual creativity. Then when they stop making as much profit they layoff digital creators. In my opinion I think this is being done to lower wages by making IT workers fight for limited jobs and be willing to take any job they can at a lower wage. This is the time for creative digital engineers to build your own businesses.
One of the few pieces of advice that made me feel not powerless. Thanks for letting me know there is still a game to play.
I can confirm that it sucks to be a 2023 CS grad right now :(.
Relax, it is FED doing its work. After rates cut the jobs will appear. It should take 1,5 or 2 years, endure until then, it is not the first time...
Apply to the government and get a security clearance. That is really your only option
@@truedwell US Gov needs foreigners to buy US treasury bonds, so there will be no rate reductions.
Tech companies are the greediest companies.
Ironic if you think any corporation is different
How do you define greedy? Being unprofitable?
Boom, bust, every sector will see these fluctuations. When I became a pilot in 1999, so many people left the industry after Sep 11, 2001, stating that a recovery was never coming. I have been in that industry for over 30, years and you are absolutely right about managing expectations, and ignoring all the negative noise. Excellent advice!
Recently my company pretty much laid off the entire IT department to save some money during a downturn. All while hiring field techs. I asked the ops manager why they would do that? Why lay off IT guys but not the field techs? His reply was that in 3 months when they need some IT workers, they will post the jobs and get hundreds of resumes of candidates all with the same industry certifications and all willing to work for $50K. But when they need a field tech, a guy who will travel, climb ladders, work on lifts, work in the elements and has skills, a posted job will garner 5 candidates and be lucky to get someone decent. Supply and demand. Simply put in the last 20 years too many want to work in IT. The pool of workers vastly exceeds the need.
it sounds like a coordinated effort, every company fires, make the job seekers desperate for any job, and then mass hire... is that legal, assuming that it is a coordinated effort.
Thank you for these videos bro! I relate a lot as I'm turning 30 this year and I'm about halfway through my CS degree. The insight you're providing here is invaluable!
This is slowly becoming my favorite channel. I finally subscribed because the content just resonates with me
@@rhodeso11 You just made my day ❤️
The wife and I are both software testers at senior levels. We have always been able to find contracts but not now. We both have 20 years in telco.
We send our CV for positions where normally the job agents would call us up straight away wanting to put us forwards and we hear nothing at all.
We get ghosted all the time now.
Any clues what this ghosting is about?
I've been in tech for 25 years. What I have noticed is cheap off shore labor work on customer facing apps. But the systems that really generate revenue such as their data warehouses or core production systems are done by American devs.
My cousin recently graduated with B.E (Computer Engineering) and he's having a hard time finding job. Out of 1000+ job applications, he had 3 interviews. He was rejected by 2 and 1 offer, making $18 as an IT Support. Scary times we're living in. For those who have a job (either you love it or not), you better ride the wave and be grateful that you have something because there's a lot of people that have nothing. Be safe out there folks.
I dont knownwhy you’re surprised
If your degree is in computer engineering, then software companies wont really like you.
Actual conputer engineering companies like Intel and AMD are inly gonna pick the best of the crop because the task is so resource intensive.
So if you aren’t gonna do software or hardware then IT is the only option left lmao.
Simple logic. Your cousin is a buffoon for getting a CE degree without the talent to actually engineer computers.
I graduated with the same degree 4 years ago in the height of the pandemic, of course all applications I submitted got a response of "We're freezing new hires, we'll keep in touch." I did finally get a job that paid much higher than I anticipated starting at, (VLSI starting pay being around $70k/yr) which was at least competitive but I'm not even doing any engineering. So I'm watching all this happening at my pretty cushy job that I was supposed to be quitting to pursue something actually in industry, now I'm not even sure what I'm going to do. I still plan on quitting this job but maybe after 4-5 years.
In business school they taught me only 21% of tech initiatives succeed. And tech workers are insanely expensive. So when companies cut they go to expensive jibs with low ROI. I’ve worked in finance my whole career, including 99’ 08’ and 20’ and every time IT was the first target for cuts. I’d say it’ll be quite a while before most those jobs come back and when they do they’ll be rebranded and paid drastically less than before.
It seems the fact of the matter was we should have always tailored our employability to a CEO’s cost/benefit psychology.
Any other criterion is useless.
Lol i had been thinking
If i had a business i would cut down IT staff as much as possible.
As long as storage and company cloud demands and security are being met
Why do i need to pay a whole ass department. A few capable IT workers is enough.
As for support tickets, we can just build them into the IT worker’s maintenance routine, anything beyond that will be the employee’s incompetence
We can not wait on the market. The market is broken and has always been broken. If it wasn't broken there wouldn't be a market. We have to start creating our own value and sell that. The corps are in it for themselves and so should we.
I got laid off yesterday. At least I'm getting a pretty decent severance out of it or I'd have nothing left.
@@stonesfan285 Dang Im sorry to hear it. Gonna hit the jobhunt hard or take it easy for a bit?
@@jroseme hunting
Tech will never be back to the glory days. The industry evolved and when the margins got thin they realized how many useless mouths were feeding off the actual workers. Now they have thinned out the herd considerably they have realized that this lean business model works without impacting their ability to compete. Apple did it best by not going on a hiring spree like the rest. People who were ousted or trying to break in now need to really upgrade their value or seek a job elsewhere. Not trying to be mean but the reality is very much real. This change in the tech environment is even impacting whole cities. Look at Atlanta, the so called "new tech hub" those jobs are gone and it now its floundering.
We're in a cycle going back to the early days of software industry where big companies would ride their big income and neglect innovation. The point of comeback will come when startups start taking the big boys out of business, lest we forget the Yahoo, IBM, Cisco, MySpace, etc.. We are in a career where anyone with a good idea, will and drive, can make something.
@@bittinkerer6241 Excited for this to kick into gear.
I dont want to scare anyone but the reason is very clear which can be explain with only 4 words, yet impossible to fix: 'Outsourcing jobs to India'. Up to Covid, it was only a dream for companies, now it's the reality with no going back .. Every day 2000 Cs graduate in that country, I was never thinking it but this is the end of IT for the rest of the world. I don't think it's possible that it will change ever, rip:/
India, Eastern Europe, Malaysia, Philippines, China, Mexico, Brazil, Chile, etc. are all low price targets for the outsourced jobs
@@FeedMeLeaks I agree and yet beside the cheap ones, the less cheaper ones are also becoming obsolete. I am living in Poland which was great for IT in EU for very long years, now we barely have any jobs. When talking to HR colleagues, they all mention the same thing, outsourcing to India ..
One of the best analogy given in this example - job market and business is exactly like stock market
I also think this market is over saturated with under qualified people who got into the industry post-covid. I am one of those people but thankfully I was able to secure a job, but if I could go back I would have done healthcare
Here is my 2 cents take on AI. AI has made my programming easier at a local problem solving. But overall, my expertise isn’t software engineering, or know what libraries API to call, or step through code. My expertise is understanding the business logics, problem solving for my customers, to develop a coherent plan to deal with ambiguity. These AI cannot do. At least not at the moment.
Well in my situation, I got laid off two days after returning from disability. I am persuing legal action for wrongful termination and discrimination under the disability act. I believe people should persuing legal actions as these companies keep laying people off and employee fight for better compensations in their severance package.
"Tech" has always been a misnomer, it makes you think of productive factories, but tge tech indusyry is just advertising and emails and bs. Of course the jobs are going away, the industry is built on lying about how productive it is.
I've remained in the defense sector as a tech worker, even when every FAANG recruiter was trying to poach post-COVID. Defense is likely the only sector that won't outsource it's tech development and has been a reliable source of employment for me for the last 10 years. The defense sector job market has it's own ebbs and flows depending on political winds, but the point is there is always work in other sectors outside of Silicon Valley.
Intel announced 15% layoffs and I’m sure they’ll cut more
That more down to internal blunders which have allowed competitors to leap from them. ( Qualcomm is now eating intels dinner)
I am sure too
Intel is totally fucked go AMD
They over hired a bunch of people based on hype. Now after it became clear the hype was overblown and debt is no longer free the job market is simply correcting cutting out the useless labor in the tech industry from the last two years.
Time to move on and not expect a recovery because the mass tech lay off IS the recovery.
I’m coming on 25 years in the tech field and this job market right now is nothing new. It’s just anyone with less than maybe 15 years of experience hasn’t seen this.
it’s the same thing that was happening 20-25 years ago... The jobs are going overseas. They’re not going to come back for a long time. When I say a long time I’m talking like more than five years.
This also explains mass migration
Business owners love it. It just means cheaper and probably just as effective employees
"Probably just as effective" LMFAO, get used to seeing more and more crowdstrike-level fumbles @@maalikserebryakov
I've also got 25 years and this downturn is very unique. We now have fully remote telecommunications platforms (zoom, etc). And yah the local jobs won't be back. They were all be in India or Mexico
when rate comes down below 2.25% if job market stays shyt boys its GG
True, but I am confident that after rates cuts the jobs will come back
Staff Engineer in a multinational Fintech here; new job placements have been reduced drastically as there has been an increase in the usage of Copilot and ChatGPT among SWE of all seniority. Workload for the remaining engineers have been notoriously increasing too.
Going to be starting my 3rd year in CS, staying optimistic that this market bounces back
Have a plan b. Going into tech is like doing gambling with your life right now.
Stay optimistic. I was a CS grad in 2008 back when the job economy was hell. It returned a few years later. Every industry goes through cycles and it's own ebbs and flows. The tech industry is not immune. You may have to ride it out the first few years after college.
@@AvikNayak_ I do, plan to finish nursing or accounting while looking for cs internships after degree if I can't do something in CS the next two years.
@@jillthinksimabreakfasttaco4904 How did you land a full time job :D
It's never coming back. Move on
I say this to all my SW friend and none of them agree with me! Having been in this field for 7 yrs and jobless since Jan, with pretty much the same shit happening everywhere, you are right to say that we all should move on!
They are hiring from overseas (India etc.) for a fraction of the cost inside the U.S. Why should they keep hiring here? it is just too expensive.
That's not a new trend though. It was only 2 years ago the market collapsed. They didn't suddenly just shift everyone to India
Look to diversify your income outside of tech
I've been around the block and I just gave up the 1st two quarters of this year to not even look for a job. I just know the jobs are not out there, and there is a flood of hot trash resumes that experienced dev are getting flooded out of the market.
Either go for self-employment, start some kind of business on your own, or leave this doomed tech. As job seeker you are cooked
The weird thing about tech is sometimes they try to disrupt industries that make sense during a bubble. Like self-driving trucks, it made a lot of sense to get tech in there when they were getting 5 dollars a mile, but the tech is not worth it when the drivers are getting $2 a mile. I wish you all the best
I worked as a Senior and Lead Dev before. Companies only hire if they can make a jackpot like hire a Lead for a Junior salary otherwise they skip. Risk management. Most companies can be ran by just a few person's and they only hire like I said when they smell blood. Best thing is to leave the tech market and do some other crap.
Two words... Foreign Contractors
Economic reset is spelled WAR
you’re videos are very calming and inspirational, i love when the algorithm gives me the humanity and dealing with life changes category. 😊
Its every field honestly, too easy to apply to everything these days. They are just collecting our resume information.
I think boom now is nursing and electrician and plumbing/ hvac
Lol
Plumbing, electric etc is always needed. How could there be a boom? The demand rises steadily.
@@maalikserebryakov Now the demand is more than ever with housing crisis and lack of supply of these manpower in general.
@@maalikserebryakov And what about supply? Cmon, I know u can do it you're SO CLOSE!
Pharmacy
Once they’ve all exhausted their AI funds and realised it’s too expensive and unrealistic to keep on investing into the hype. They’ll all be back.
Tech is hiring. They are hiring in India and Eastern Europe.
I don't know about India, but Eastern Europe is also a hard place to find tech jobs. Maybe not as hard as the West, but a lot harder than 2-3-4 years ago.
In india? Companies like Infosys ask CF Master level OA questions.I don't know what kind of prodigies these small pay companies want.
My former employer is hiring tons of folks from Poland right now even though I just got laid off. Since European devs tend to make half of what ones in the US do
Mexico as well
It's a reflection of the economy. Hopefully it will be better after the elections so mid 2025 - late 2025 we should see positive signs. Many investors are on the fence now.
It is FED doing its work. It will take sometime until it cut rates and it takes effecs. Probably 1,5 or 2 years
It's pretty simple: the market goes up and down. It always happens, always has. It's the rule. Tech is down now because of interest rates, just like many other white-collar fields. It's not unique or unprecedented. It's actually by design because the rates were raised on purpose to combat inflation. When the rates go down, jobs will come back. And the rates will go down sooner than later.
Tens of millions of people will be left behind by the time it recovers.
@@SafeEffective-ls2pl First time?
And interest rates control how many peoplE are willing to open new businesses
This clearly proves how insane most ceos are. They bet their whole livelihood on Loans and interest rates.
@@maalikserebryakov can't argue with that. Unfortunately the incentive to grow as fast as possible is too high so loans are essential (or seem to be)
The fed will cut rates excessively pretty soon though. We’re only just entering in to the recession though
It's a big, sudden, violent correction. The owning class doesn't like it when the working class has the leverage. This is all by design.
Does anyone remember when everybody wanted to study petroleum engineering?
Soon to be a minimum wage job due to oversaturatuon.
Already, including non paid internships and bootcampers into debt
I think your market analogy was spot on. to add, i dont think balanced markets get stuck in bad markets cycles unless something is artificial.
This looks exactly like my old Austin, TX apartment.
exactly what i was thinking
@@esytpremium In Austin? Which part did you live in?
Ok
Looks like every other place in the US
@@grants5383 near round rock 😁
People will be hired when jobs are created. Jobs are created when work is created. Create work. Solve problems. Create startups.
And how many go belly up in five years?
The jobs are out there although tech fields have been flooded with people owing more in tuition debt than the common sense they should have been using when they didn't get their class of choice the first time due to it being full.
I saw the computer field was awash in people when I started with Fortran.
Changed to Architecture, made a bundle and retired @ 58.
There is also the expectation of top dollar on the first day.
The concept of W O R K your way up is dead.
There cannot be more companies than employees. And people are not consuming anything during a recession.
They can stop hiring for a long time, unless they have plans to update their software weekly or every three days.
I really appreciate the wisdom you have been blessed with. God bless you
I feel like they all wait for that College kid who doesn’t know he/she is getting paid far less than what they should be. Meanwhile us who know what we’re qualified for have to fight and get gaslighted by the same enployers 😂
People think AI is the issue, take a look at any tech companies job listings. Barely any positions within the United States, all abroad.
this guy is definitely a developer
I will say this a lot of Jobs I have seen has gone to Mexico City and India. Even defense contractor jobs. There are jobs still hiring but they expect you to know everything front to back basically be a one man dev team for little pay. Also I have seen a lot of immigrants come here with high dollar macbooks and are working for some tech companies that provide community housing its crazy...
It baffles me as to why anyone who's interested in engineering in general chooses software. Companies do not care about software, as 99% of the time their software is not their product - the data it serves/collects/runs ads on is. This results in shitty 'engineering' culture, rampant runaway complexity, severe NIH syndrome, and everything else developers have been complaining about in the last 15 years. It's not too late to go back and get an EE degree.
I had my undergrad in CS but my masters in Engineering. I completely agree with you here, in fact, you can easily freelance and create your own software for clients. You don’t necessarily need to work for a company to do that.
I think you forget the DC politicians restructured tax law which is why it became less profitable to keep software engineers employed. It went from a pretax expense to a post-tax expense. It isn't going to improve. There will be incredibly specialized hires but if you aren't a better coder than a high quality AI, you're not going to get your job back. Best advice is to get a trade job if you're physically able.
Best video I have seen recently, hats off to you man.
I believe it is in all jobs not hiring, it is the by far the trashiest market quit awhile.
Yep. The phenomenon is being seen across ALL fields.
Your taxi analogy was extremely insightful. Made me slightly less blackpilled about the situation and help give me some context thanks
We need to all get together and compete with the mega lords
thanks for your kind words. needed this. everyday it is so tough to keep at it and keep going without hearing anything positive...
While the big environment matters a lot, each job hunt is still its own specific situation. It is certainly possible to get interviews and offers now and people do job hunt successfully. The key is what kind of positions you are targeting and what kind of skill and experience you possess.It's all about positioning yourself optimally even within an advantageous field. If you really want it you have to put in the work consistently and try to get lucky.
The only narrative you need is interest rates
I think this was a more novel insight 10 years ago when I was looking for my 1st job, lots of people are aware now of the downsides of the FAANG companies, but apply to the industries and companies that most tech workers aren't thinking of.
I ended up starting in a mortgage company and then moving to an insurance company. It was not the career path I had dreamed of, but they need good engineers too, and I've gain valuable skill while be paid fairly well still.
My company is finally seeing success deploying agents at scale (AI coding). It’s over
you will be rich, well done. And you beat Devon to it. Assuming your company is not Devon.
My daughter just got a job in New York straight from Rutgers University. There is always a chance
@@henson2k congrats to both of you!!
Working in tech: this doesn't really have anything to do with AI. It's because parts of the world are already in a recession. Central banks raised interest rates, which makes it harder and more expensive to secure new funding. As a result, orders and revenue are declining. Companies are having to manage this situation. That's why we've seen initial rounds of layoffs.
Now, we need to remember that humans tend to exaggerate. We saw this at the peak of the tech bubble. There are countless CZcams videos of people wanting to join the tech industry because of the high salaries. The only question was: how much do you earn? And now we're witnessing the other side of exaggeration. Currently, companies seem to be laying off more people than necessary. However, they're anticipating worse times and erring on the side of caution. Sooner or later central banks will lower interest rates. Then markets will go down in the first place, because CBs react after bad data in the economy. In the mid and long run this will lead to more money in the economy and the hireings will start again. I expect the current situation will remain for another year or two.
Yeah, it's worse now, but we had a similar situation after the 2008 crash. It was probably around 2012 or 2013 till things "got back to normal". So probably another 2 or 3 years like you said
For what it’s worth, I will say I decided I was done with the “traditional tech job” - most things are moving towards contracts where they can and will get rid of you on a whim (and are more likely to if you are from a underrepresented group; the DEI shit is useless), and I was sick of doing work where I wasn’t even sure of the impact I was having. Now i freelance and do Taskrabbit and Rover, and feel more fulfilled doing that.
I haven’t given up on tech - just the opposite. Ironically I have more time to actually do cool tech than I did when I was actually working in tech. My goal is to become an embedded engineer or something along those lines eventually.
But for now I am just enjoying not giving 40 hours a week to people who wouldn’t care if I died tomorrow
DEI was never real tech has always been like 99% white indian and chinese
Rare to see a sincere CZcamsr these days. Subbed
I mean in overall business there is a weird situation. By using AI as an everyday tool it helps you and on the other side all the people who follow AI as well know that it has already a huge impact on job cuts....and it is happening so fast. My advice: Be as flexible as you possibly can. actually you dont have an alternative, because EVERYBODY needs to be as flexible as possible...from business, to tech to every 'please fill in your favorite swear word' industry. What do you think?
I really want to leave my current company, but i’m holding out until the market gets better. But it feels like its taking forever :/
Time to learn a new craft.
Love the message of this video. Work hard and good things will come.
I like your videos man, you have good insight.
Experiencing a similar thing in Ireland. Great analysis and perspective. Would love more videos on how you do the data analysis, analyse trends.
Thank up :)
Appreciate your videos! :)
All you need to do is look at headcount graphs of the major tech companies. The amount of hiring they did from the year or two before, then through the pandemic was insane and obviously well beyond any economic fundamentals. I think the latest employment downturn in the industry has little to do with AI. It’s the realization that the hiring binge was way overdone and now it’s the the time to right-size their enterprises.
It will never come back
Thanks a lot for sharing your insight, I really appreciate it!♥
get ready to eat beans out of a can. in a van by the river
Honestly it doesn’t sound bad after all.
@@emilendemoniac well judging by how things are going the van might be a pipe dream
Every other software job hunt I've done since 2017 I snagged a great role in a week or two but this market is so rough. I would go work at McDonald's if I thought it wouldn't forever make me unhirable when it shows up on a background check.
Working at makkies won’t make you unhireable lmao. Are you insane
He mentioned such legitimate concerns in the video we are commenting on. Did you watch it before commenting?
@@knarxr How do they background check?