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
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
@@AlohaAloha-f2v100% I watched coworkers get let go who admitted they wanted to coasting. Wonder why there now dumped in a market with no relevant skills.
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.
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.
@@BrandonBusby-u2b 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.
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
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.
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.
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.
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.
@@patrickchan2503I think it's clever, I expect SE salaries to go down. The best engineers will still be in demand. My opinion is stop looking for a job, look for work to do and build good working products in your community. If you want a job.... It'll come
@@lugebeatzz8747 true, have to live life and not just work. After working all my life, I found myself unemployed (again). And I thought, let's study what I want, do what I enjoy. I didn't force myself to look for work to make ends meet (I was in a fortunate position to do so). And it accidentally became an interesting gap year. There were days when I got a bit desperate but I am a more enriched person now. And have a job offer to show for. Thanks for your advice.
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 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.
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
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.
History repeats itself. I imagine a large pool of tech workers will jump ship because it's too difficult to find work. Once the market rebounds, there will be less supply of workers. Like you said, that's the point where you need to be ready.
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!
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.
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.
Greetings from Los Angeles, California, J Rose! I just found your channel today! I've been in IT-Tech for 7 years and this is a bad IT-Tech industry downfall! I heard it was bad back in the early 2000s and from 2008-2010, as well!
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
I agree with you-we’re not there yet and still have a long way to go. That said, Computer Science degrees might carry some risks moving forward. I work in tech at a Fortune 500 company, and from what I’ve seen, choosing project management was the right call for me. This role is essential for making decisions and determining the best path forward, especially while leveraging AI as a tool to assist in the work. It’s not replacing developers anytime soon-it’s more of a resource than a replacement, at least for now.
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.
Over the past 20+ years tech has bounced between extremes of hiring like crazy and mass layoffs. And both extremes have been overreactions. There will be another boom. I have no idea when or in what area of expertise or market. There are still companies and executives bemoaning the lack of qualified applicants for certain areas...all while laying off who they deem as "nonessential".
I feel it's going through a phase like the pilots in the 70s. Too many pilots, a demand reduction, and bigger planes made the entry costs and starter jobs nearly worthless for decades until you made it to a major airline and out of regional airlines. The bar is set higher to get a good job in tech now, but I feel tech has more opportunities to shine above your peers compared to the airlines
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.
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.
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.
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.
I finally got an entry/junior level SWE adjacent role last week (a Fullstack programmer analyst) after applying for over 2 years... I'm severely lowballing when I say it took me at least 1000 applications. I really got to the point where I was like fuck it, if no one is hiring I'll make my own professional experience and write my own damn software and try to somehow get that working, and since then I've learned quite a bit. My first simple app isn't out yet, I'm getting the last pieces of it meshing well together since I know I want it to have interoperability in the ios ecosystem and I want to be able to build on top of it in the future. Its been so damn hard to stay motivated, but I've learned a lot about myself...namely that I'm particularly motivated by spitefulness and hatred of working in retail ever again in this life or any future lives lol.
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’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
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.
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
Yupe! IT and Tech jobs out here in California are paying 30%-50% less in 2024 than in 2021 and 2022, which really sucks! I was making $130,000/year from February 2022 to February 2023 working at Google as a junior software engineer, then I got laid-off! Took a job that year making $80,000 because I couldn't find a better paying job in IT-Tech. Now, I'm completely out of software engineering, doing hardware and network engineering, and IT admin work. I doubt I'll be able to get into software engineer anytime soon! Sucks, but it's the reality for hundreds of thousands of us in the IT-Tech field!
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.
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
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.
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.
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.
AI will NOT take your software job, but an Indian will. Everything has been offshored. At my job (Fortune 500 company) they stopped hiring local and will only hire from Wipro. Our software teams have no input on who joins the team, some Indian just shows up one day.
I agree that the quality of work in service-based offshoring might not always match expectations, but you get what you pay for. That said, many companies are setting up offshore development centers, and I’d argue that the quality of candidates is often comparable, if not better, in many cases.
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 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.
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...
I got laid off from a payments processor called Global payments at the end of August 2024. I just got another job starting Monday jan 6 all because I know COBOL. If you want a job in tech, learn older languages. Everyone knows the new languages and stacks. But COBOL and assembler developers are hard to find because those programmers are retired and still millions of lines of code written in those languages. The competition is not as fierce and you make good money.
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!
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.
i barely made it too. i had a job but go laid off and now I'm in the job market. Trying to get out of coding and do something else but I really need the money right now haha.
How many tech jobs? Not many. How many techs? Way too many. I saw that in the 80's when I had to wait three semesters to get into a Fortran class. Change to Architecture and never looked back.
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.
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.
This time US will have permanent decline - outsourcing, losing markets, losing ledership in technologies, de-dollarisation , state of international affairars, internal conflicts, rise of BRICS etc...
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 UA-cam 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
Layoffs in tech is nothing new. I cut grass when I was laid off 25 years ago. I would cut a yard in 30 minutes for $25. Don't follow the crowd... $50/hour plus benefits was my starting pay when I landed. I worked that job for 20 years to my retirement.
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 :)
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.
Lost a $200k job in June, been applying since February 2024. Got a night warehouse job in April….$28k for 20hrs a week at night. Ok started my own business in June and between that, my dividends and my night job I’m squeezing in 170k……but boy am I hustling to earn that……4 sources of income cobbled together. AI is only going to make it worse. I continue slamming into GSBD, GOLD, WMT, and TSLA…….degree in computers, MBA and turned down by MSFT, HP, and on and on……..passed up a Recruiting job at a University (too much travel would interfere with my hustles and salary was $40k and too low……). But I’m content doing my semi independent work…..maybe 2025-2026 will get back to finding some six figure jobs they can’t stay hidden forever for those willing to relocate/work from home
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
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
@@AlohaAloha-f2vincluding both of you.
Spot on
🎯
@@AlohaAloha-f2v100% I watched coworkers get let go who admitted they wanted to coasting. Wonder why there now dumped in a market with no relevant skills.
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.
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
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.
@@BrandonBusby-u2b
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.
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
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
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.
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 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.
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.
@@patrickchan2503I think it's clever, I expect SE salaries to go down.
The best engineers will still be in demand. My opinion is stop looking for a job, look for work to do and build good working products in your community. If you want a job.... It'll come
@@lugebeatzz8747 true, have to live life and not just work. After working all my life, I found myself unemployed (again). And I thought, let's study what I want, do what I enjoy. I didn't force myself to look for work to make ends meet (I was in a fortunate position to do so). And it accidentally became an interesting gap year. There were days when I got a bit desperate but I am a more enriched person now. And have a job offer to show for.
Thanks for your advice.
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.
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 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.
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
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.
@@dasaauploads1143 no one is safe now, they all say AI but they don't even know what that is
History repeats itself. I imagine a large pool of tech workers will jump ship because it's too difficult to find work. Once the market rebounds, there will be less supply of workers. Like you said, that's the point where you need to be ready.
This is slowly becoming my favorite channel. I finally subscribed because the content just resonates with me
@@rhodeso11 You just made my day ❤️
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!
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.
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 companies are the greediest companies.
Ironic if you think any corporation is different
How do you define greedy? Being unprofitable?
Look to diversify your income outside of tech
Greetings from Los Angeles, California, J Rose! I just found your channel today! I've been in IT-Tech for 7 years and this is a bad IT-Tech industry downfall! I heard it was bad back in the early 2000s and from 2008-2010, as well!
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
I agree with you-we’re not there yet and still have a long way to go. That said, Computer Science degrees might carry some risks moving forward. I work in tech at a Fortune 500 company, and from what I’ve seen, choosing project management was the right call for me. This role is essential for making decisions and determining the best path forward, especially while leveraging AI as a tool to assist in the work. It’s not replacing developers anytime soon-it’s more of a resource than a replacement, at least for now.
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.
Over the past 20+ years tech has bounced between extremes of hiring like crazy and mass layoffs. And both extremes have been overreactions.
There will be another boom. I have no idea when or in what area of expertise or market. There are still companies and executives bemoaning the lack of qualified applicants for certain areas...all while laying off who they deem as "nonessential".
I feel it's going through a phase like the pilots in the 70s. Too many pilots, a demand reduction, and bigger planes made the entry costs and starter jobs nearly worthless for decades until you made it to a major airline and out of regional airlines.
The bar is set higher to get a good job in tech now, but I feel tech has more opportunities to shine above your peers compared to the airlines
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?
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.
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
you’re videos are very calming and inspirational, i love when the algorithm gives me the humanity and dealing with life changes category. 😊
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.
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.
I finally got an entry/junior level SWE adjacent role last week (a Fullstack programmer analyst) after applying for over 2 years... I'm severely lowballing when I say it took me at least 1000 applications. I really got to the point where I was like fuck it, if no one is hiring I'll make my own professional experience and write my own damn software and try to somehow get that working, and since then I've learned quite a bit. My first simple app isn't out yet, I'm getting the last pieces of it meshing well together since I know I want it to have interoperability in the ios ecosystem and I want to be able to build on top of it in the future.
Its been so damn hard to stay motivated, but I've learned a lot about myself...namely that I'm particularly motivated by spitefulness and hatred of working in retail ever again in this life or any future lives lol.
One of the best analogy given in this example - job market and business is exactly like stock market
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 ..
@@FeedMeLeaks India is the vast majority
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
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.
@@feed_me_cookies How did you land a full time job :D
@@dricmoybhatthacharjee8119 how many internship applications have you sent out? I'm seeing people applying to hundreds
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
Can you advice me? I'm willing to get into tech freelancing but don't know where to start. I'm a CS grad student.
Best video I have seen recently, hats off to you man.
People think AI is the issue, take a look at any tech companies job listings. Barely any positions within the United States, all abroad.
Yupe! IT and Tech jobs out here in California are paying 30%-50% less in 2024 than in 2021 and 2022, which really sucks! I was making $130,000/year from February 2022 to February 2023 working at Google as a junior software engineer, then I got laid-off! Took a job that year making $80,000 because I couldn't find a better paying job in IT-Tech. Now, I'm completely out of software engineering, doing hardware and network engineering, and IT admin work. I doubt I'll be able to get into software engineer anytime soon! Sucks, but it's the reality for hundreds of thousands of us in the IT-Tech field!
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.
It is FED doing its work. It will take sometime until it cut rates and it takes effecs. Probably 1,5 or 2 years
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
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.
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.
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.
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
Two words... Foreign Contractors
AI will NOT take your software job, but an Indian will. Everything has been offshored. At my job (Fortune 500 company) they stopped hiring local and will only hire from Wipro. Our software teams have no input on who joins the team, some Indian just shows up one day.
Indians can't deliver the same quality, that's a risk a company needs to assume if they want to cut budget
I agree that the quality of work in service-based offshoring might not always match expectations, but you get what you pay for. That said, many companies are setting up offshore development centers, and I’d argue that the quality of candidates is often comparable, if not better, in many cases.
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
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 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.
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.
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...
Rare to see a sincere UA-camr these days. Subbed
thanks for your kind words. needed this. everyday it is so tough to keep at it and keep going without hearing anything positive...
My daughter just got a job in New York straight from Rutgers University. There is always a chance
@@henson2k congrats to both of you!!
Your taxi analogy was extremely insightful. Made me slightly less blackpilled about the situation and help give me some context thanks
I really appreciate the wisdom you have been blessed with. God bless you
Its every field honestly, too easy to apply to everything these days. They are just collecting our resume information.
I got laid off from a payments processor called Global payments at the end of August 2024. I just got another job starting Monday jan 6 all because I know COBOL. If you want a job in tech, learn older languages. Everyone knows the new languages and stacks. But COBOL and assembler developers are hard to find because those programmers are retired and still millions of lines of code written in those languages. The competition is not as fierce and you make good money.
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!
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.
When AI does take over, I hope HR is replaced, they're such a huge barrier for applicants and slow down the process so much
Yes, stay positive. Will keep trying!
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
i barely made it too. i had a job but go laid off and now I'm in the job market. Trying to get out of coding and do something else but I really need the money right now haha.
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.
How many tech jobs? Not many.
How many techs? Way too many.
I saw that in the 80's when I had to wait three semesters to get into a Fortran class. Change to Architecture and never looked back.
there are wayyyy to many cs grads being pumped out and brought in. masters and specializing is the way
@@JS-rg7vo Way too many people think you need a common sense removal otherwise known as a college education with a 1990 or newer diploma.
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.
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.
This time US will have permanent decline - outsourcing, losing markets, losing ledership in technologies, de-dollarisation , state of international affairars, internal conflicts, rise of BRICS etc...
That's dumb. Most of brics is dependent on US growth especially India
this guy is definitely a developer
Either go for self-employment, start some kind of business on your own, or leave this doomed tech. As job seeker you are cooked
for now.
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 UA-cam 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
We need to all get together and compete with the mega lords
Does anyone remember when everybody wanted to study petroleum engineering?
Man, I really want to move into the government sector now to secure a few years. The job market looks so dry, and it is really terrible.
They can stop hiring for a long time, unless they have plans to update their software weekly or every three days.
Soon to be a minimum wage job due to oversaturatuon.
Already, including non paid internships and bootcampers into debt
Layoffs in tech is nothing new. I cut grass when I was laid off 25 years ago. I would cut a yard in 30 minutes for $25. Don't follow the crowd... $50/hour plus benefits was my starting pay when I landed. I worked that job for 20 years to my retirement.
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 :)
Love the message of this video. Work hard and good things will come.
Economic reset is spelled WAR
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.
This looks exactly like my old Austin, TX apartment.
exactly what i was thinking
@@esytpremium In Austin? Which part did you live in?
Ok
@@grants5383 near round rock 😁
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.
The only narrative you need is interest rates
Lost a $200k job in June, been applying since February 2024. Got a night warehouse job in April….$28k for 20hrs a week at night. Ok started my own business in June and between that, my dividends and my night job I’m squeezing in 170k……but boy am I hustling to earn that……4 sources of income cobbled together. AI is only going to make it worse. I continue slamming into GSBD, GOLD, WMT, and TSLA…….degree in computers, MBA and turned down by MSFT, HP, and on and on……..passed up a Recruiting job at a University (too much travel would interfere with my hustles and salary was $40k and too low……). But I’m content doing my semi independent work…..maybe 2025-2026 will get back to finding some six figure jobs they can’t stay hidden forever for those willing to relocate/work from home
People were told to learn to code. Should we all learn how to change a lightbulb now?
I like your videos man, you have good insight.