#TideChanging #MarketTrends #JobSearch
Hey there! 🌊 Do you feel like the tide is finally changing in the market? I’ve definitely been feeling it too! It’s been a bit of a rough ride lately, but I’ve been noticing some positive shifts. More recruiters are reaching out, and I’ve been getting more job offers and interviews. Plus, the S&P has been on the rise, which is always a good sign.
It’s totally normal to question whether you’re just seeing things through rose-colored glasses or if the market is truly starting to pick up. But based on what you’re experiencing and what I’ve seen, I think it’s safe to say that things are looking up.
Keep staying on top of the trends and opportunities, and I’m sure you’ll see even more positive changes in the near future. Hang in there, and keep hustling! 💪📈
As long as interest rate remains high, there won’t be drastic change.
Maybe, but, from what I’ve seen, salaries being offered are 20% to 50% lower now. I think some companies are bargain hunting.
I really hope so, as a new grad looking for entry level work, I’m really starting to sweat bullets out here, I need a job and the ability to provide for myself
I’m curious what happens in Jan. Q4 always the slowest quarter anyway due to spent budgets and everyone with decision authority being on pto half the time.
Probably coping. Your only option really is established companies.
My company currently is a small startup and we’re profitable so we’re able to hire into the high 6 fig salaries. we’re still getting 1-5k applicants on a job posting and thus able to be extremely selective, normally grabbing engineers that have exited successful startups before in a similar domain.
It always goes in waves, but the ovedall trend is still down.
The tide won’t change because the era of low interest rates is over and we will have sticky inflation for years to come. We will have higher unemployment, companies will continue to lay people off and freeze hirings because their budget has shrunk and access to credit is hard. It is over.
The bottom hasn’t come yet. Probably not for a year or two.
It seems temporarily better. It might be a “dead cat bounce” though
Yes, I’ve had more recruiter reach-outs in the last month than in the year preceding. I think by this time next year things will be relatively normal, especially if rates start coming down (and I predict they will). I don’t think interest rates necessarily need to fall in order for jobs to come back; I think it was the sudden unanticipated rate increases that made companies panic and dump talent on the market. Companies have by now largely adapted to the higher rate. I think we can expect rates to stay where they are for a year or two, but I don’t think they’ll go up by much more. If rates stay stable, the engineering job market will continue to rebound.
s&p is rising but many of the underlying companies are still dying. It’s only the big tech companies (a very few handful) propping everything up, so as long as you have interviews for those specific companies, it’s still rough.
I don’t think the tide has changed that much, but when rates go down, companies will be able to borrow more money to hire people
I want to be optimistic and say yes, but until inflation is fully under control and interest rates in the US start to go down. Then I won’t truly feel comfortable with saying a full-on, yes.
Data Dog slopping up talent that’s desperate rn. Stock Markets up because traders think Powells gonna drop rates. Doubtful given how good the job markets have been. We’re probably 1-2 years away from after the fed starts dropping rates imo
I think it depends on where you are and if you are just firing applications at everything vs just what fits. I’ve applied at under 30 places so far and have had 6 interviews so far between may and now, but going on here you see people with 1000 applications with no call backs. I’m not applying at your places that everyone has heard of though. I haven’t noticed any changes over this year on responses. My first batch of about 12 applications I got 3 interviews on back around June, didn’t apply any more until September or so and got 3 more from those so far. Had 1 offer that I turned down due to being lower than I want to take and am in the final round for another which closes this week. I’d expect it to slow down a bit as the year ends and pick back up 1st quarter
noticing the opposite — I’m seeing much fewer jobs being posted, and the jobs being posted seem to be of lower quality and/or not full time. this is consistent with it being the end of the year so not surprising.
haven’t really noticed a difference in responses I get to job applications
The tide comes in. The tide goes out.
I think you’re right. A few people I know who were looking for jobs over the past year have had much more luck in the past month.
I think you are just coping I feel like last two weeks there was a very silent wave of layoffs
I think that especially recently, a lot of companies reacted to the whole financial/market situation with a sort of “*Stop everything! We need to redo all our budgets.*” And now, some of them have, and some of them are probably trying to get it done by Christmas so that everyone can bugger off and spend the holidays with their families, and then in January, they’ll mass-publish their current vacancies.
I got three phone screens – two did not pass – these last 2 weeks. 3 phone screens in the month of November so far compared to 0 previously. But now it’s silent again.
At this point, you’re seeing the seasonality of hiring in the industry. Postings tend to pick up right before Thanksgiving in order to hire with start dates in January.
Most of the news you’ve read about the “tide” has been sensationalized. Most companies didn’t massively change their policy. People have been hiring the entire time. The major companies were still hiring even as they were laying people off.
I have not noticed this yet. LI inbox still a ghost town compared to daily recruiters last year.
No, I saw ppl still getting laid and the companies are still hiring on top of increased hiring rounds. I saw 4-6 rounds of interviews including a panel, and I had war flashbacks from the time I was going thru the process of my current job.
Totally, I got 4 offers recently unbelievably easy while I couldn’t get any good offers in early 2022 when people said the market was good.
i am coping insanely here but i feel like 2025 is when recruitment gonna really pop off
It’s only been shit in the USA afaik. Here in Europe there’s still needing software engineers. Right now they’re relying more and more on Indians but that doesn’t always work out.
as long as interest rates are sky high and VCs are not handing out money like candy on halloween things will not return to how they were the past few years. All those massive salaries and over hiring was fulled by cheap money. Now that everyone is worried about where their next funding round is going to come from they are hesitant to hire and are going to low ball everyone
Things are getting better. Back to normal but with a deeper bit of scrutiny. As it should be.
Exercise, get sun, remain hydrated, be positive, focus 🧘♀️ on your skills and being likable. Then get out there and pound the pavement.
Not the US here, but my company + all my friends’ companies cannot hire quickly enough. My company in particular is desperate for competent anybody (including juniors) willing to dive in head first, but we require people speak Dutch (we’re in NL) to a reasonable degree since they will be working with stakeholders who might not be very fluent in English (construction workers and building contractors, particularly).
A friend of mine works at Tesla in Amsterdam and he’s reporting insane turnover, but he claims it’s because the culture is mega toxic and the “unofficial” overtime expected of everyone, which is kinda super illegal here.
Another works at Amazon and they can’t hire quickly enough, but their standards are ridiculously high and they don’t give feedback to rejected applicants so he doesn’t know why they can’t fill the open positions.
Yet another works at ESA and they report super high turnover due to crazy toxicity. Apparently 30% of people working at ESA [have reported being bullied at some point while working there.](https://arstechnica.com/space/2023/11/contractors-accuse-european-space-agency-of-a-culture-of-harassment/) Meanwhile they have multiple projects that are behind schedule, largely due to lack of manpower.
Big time, yes. I have multiple recruiters reaching out to me and I’m getting deep in rounds of interviews. It was radio silence 3 months ago.
It’s a temporary boom. Secure something ASAP.
The median income reported on levels.fyi was $170k, then dipped to $168k recently during the “mass layoffs” and has now returned to $170k.
Hope so :/ I’m willing to get underpayed at this point for the experience but even then it’s still hard to get a job
We finally got the OK to start hiring again last week after at least a year of a hiring freeze.
Cope. Salaries are lower and layoffs are resuming again in big tech.
Yellen’s been getting called out for bad decision after bad decision and we’re just barely getting a handle on things. I think we still have some more pain ahead but the light is approaching.
But I don’t know shit, I’m just a code monkey.
You’re coping. Feds signaling inflations woes won’t let up until 2026 and talking about holding rates high and/or doing more increases. That alone is cocking up tech financing and is the driver of layoffs and low hiring rates. https://www.reuters.com/markets/rates-bonds/fed-projections-show-if-soft-landing-is-new-baseline-or-baseless-2023-09-20/
On top of it, the metrics that keep saying the economy is booming are completely disconnected from the reality the median person experiences in the US. So, I mean, if people trying to consume protein and access vitamin B12 in their diet by consuming eggs they bought for $6+/dozen is a booming economy, I want to get off the train.
It’s changing. I’m interviewing for new roles every week. (Edit: as interviewer, not interviewee)
Did you make a change in your applying strategy recently?Or did you increase the number of applications?
Ive seen it happening too
Going to be dead from now to Christmas as it always is, I noticed a few more recruiters hitting me up in October though.
If the market recovers it will be February.
Source: I have a feeling
My wife in the past month is getting lots of hiring managers responding to past emails or reaching out to her to start hiring.
She also went from a year where trying to place any role was like pulling teeth. Hiring managers coming in way under market or putting people through round after round of interview.
This month she’s had 2 people go from submitted to offered a job in 2-3 interviews. And another in a final interview where they’re committed to making one of the finalists an offer by Friday.
Something is changing.
I’m about to graduate with a degree (CS) in April, and finish a bootcamp around the same time. I’m very worried about job security. Honestly, I might just go to school for something else after I get this degree because the amount of doom I see around this profession is just too much. Anytime I look up the demand for programmers and developers, stats usually say higher than average. US bureau of labor website said an expected 26% increase in employment for software developers over the next 10 years, yet all I have seen is hundreds, maybe thousands of posts about people applying to thousands of jobs and getting completely ghosted.
It’s coming back.
The upswing in new and total job postings keeps going up. A recruiter I have worked with keeps calling me…urgently.
I feel it’s gotten worse. Over the summer I had several interviews, then it died to absolutely nothing. I logged into [Hired.com](https://Hired.com) today for the first time in awhile, and they’ve added a bunch of content to their site trying to justify why they even exist in this market – acknowledging that it is very difficult to find a job today.