There are definitely still a LOT of companies with hiring freezes in place. A lot of people are still employed, but they’re not jumping ship if they are at a crappy company. They’re staying put because there are fewer open positions to jump to.
It ain’t 2008 or 2000, but its definitely not 2018 or 2019 either. Tech talent could be picky before the pandemic. Now it’s the employers that get to be picky.
Any days to support all that? I’m not seeing that at all. Tech talent in my network is still really picky, and those that have changed jobs this year still picked up the usual 5 figure salary increase for their trouble.
On the scale of tech recruiting, I’ll agree it’s the coldest it has been in a long time, in that tech people get snapped off the market by a new employer in well over the previously typical 48 hours.
For any employers who think your reputations can survive making asses of yourselves right now, think again though. Memories in tech are long.
Not that I care, I’ll gladly keep stealing talent from short sighted orgs.
That sounds roughly accurate from my standpoint. I would love to stay where I’m at, but I’m being forced out by the upcoming RTO mandate. And on top of that, our brilliant executive team is currently chasing the AI trend, putting a bad taste in a lot of people’s mouths here. I think we also still have a hiring freeze mostly in effect except for a very few select positions with the educated guess that another RIF may be coming in the next few months. The whole thing makes me really angry the more I think about it.
The missing piece is salary is way down. With FAANG no longer paying $400K for engineers and hiring at an insane rate, the rest of the industry isn’t trying to play catch-up and compete on pay.
I used to work FP&A for a 2nd or 3rd tier tech company and it was hard competing to get engineers to join us. A kid out of college from a decent school for a $100k signing bonus from Facebook. I have since switched to a lower tier company but it has great work life balance, but we’ve lowered our salary on all open reqs because we know we don’t need to compete as aggressively and our average time to fill a role hasn’t changed.
There’s still plenty of recruiters asking me about jobs which I have zero interest in so I’d say the article is accurate.
This is the best summary I could come up with:
After the big companies conducted mega layoffs at the beginning of this year, it would be natural to think that the tech unemployment rate would skyrocket.
Those non-technology companies are finally getting a shot at some of the better talent that has been locked in tech industry jobs for the last few years.
What’s more, CompTIA found that tech job posting volume was down, suggesting that companies might have put hiring on hold, at least for the short term.
This hardly seems surprising, given that the Fed has been raising interest rates for the last 19 months with the specific goal of cooling the economy.
Today, the picture isn’t quite as bright — though not awful — but there is clearly a shifting landscape for tech workers.
That caused the economy and tech jobs to plunge briefly, but throughout that year and into 2021, companies began recognizing that there was a business opportunity in having so many workers at home.
I’m a bot and I’m open source!
let the water hold me up
The article’s title isn’t supported by its text. The title could be “The tech job market is still strong” but I suppose that wouldn’t get the same number of clicks.
Good, because I’m about to finish another (dev) degree and I really want more money. Because I need more tech toys.
