How Bad Is the Current Market? Pt3

Question

I'm an eng with three years of backend experience (1yr faang, 2.5yrs growth stage startup) and one year being a technical product manager / product eng. Startup I was working for laid off 75% of the eng team and half the product team (including me, since I had the least exp and was the most recent addition).Been about six weeks, around 40 applications that only converted to three interviews. Fortunately I have savings, but insurance is expensive and the outlook doesn't seem good. Anyone else struggling without a solid "senior" track record / solid resume?Consulting for a friend's startup to keep the lights on, but future seems pretty bleak especially with GPT4.

the_only_law · Accepted Answer

~5YoE. I was getting absolutely nothing for 4 months. No interviews and by mid December recruiters had dried up completely.
Then I applied to a non-remote job the other night, while not paying attention and the company ends up reaching out for an interview the next day. I’m guessing I’d see a lot more engagement if I applied to more on-site jobs.
Honestly the pay seems reasonable and the work doesn’t seem all that bad, but I really don’t want to move. It would basically mean death for my medium and long term plans/goals. Moving is also expensive and I’d be moving right back to a state I left several years ago.

VagueMag · Answer

Even with a senior resume I have found the pipeline extremely difficult to make it through as well. Initial phone screens used to be a formality, and I almost always passed the initial coding interviews, but not anymore. Will almost certainly have to accept a significant cut to my base salary. Was lucky enough to be laid off by a Globotech type so got a decent severance with six months of COBRA but it's rough.Always thought they'd be a little scared to proletarianize the people who know how all the tech infra works but maybe I was wrong!

ll_mama · Answer

It's definitely not ChatGPT or AI (or at least not just that), it's remote work as well. I'm seeing a lot of companies hiring worldwide remote talent at a huge discount. This time its different from the outsourcing we have seen in the past. Because you now have experienced remote US and EU developers living somewhere where their cost of living allows them to be very competitive on rates and salary. An US developer living in Asia, can charge 50-100$ per hour, which comparatively to the US, would be 100$+-500$ per hour. And that is happening a lot now.I have lowered my salary expectations, and am doing quite well while consulting now.

luxuryballs · Answer

something that I've noticed which wasn't happening 5 years ago is the insane number of people clearly from India flooding me with emails/phones and rather rude (or at least socially inept) SMS messages, and almost always asking me for SSN digits, DOB, or photos of ID to get an interview (as if) did get one interview via one of these fellows without such nonsense but then they wanted to record the video interview to show the client, I couldn't just interview with the client directly? so I got cold feet and tapped out, just felt off... BUT then I went ahead with a similar one a month later, still didn't feel super right, but whatever, at least it seemed like it was a direct hire this time, guy was nice and seemed legit, got the impression they wanted me for customer facing but def. for mentoring/managing offshore newb team, seemed like the entire company was Indiannot worried about GPT, you may be able to use it to make you more productive though

TechBro8615 · Answer

You'll be fine. Hopefully you saved some of that FAANG money because it might take a while, but if you target recently funded startups and reach out directly, you will get a job quickly.

kypro · Answer

What are you applying for? Are you trying to get a FAANG salary or just a job? Not judging, just wondering.

gumballindie · Answer

> future seems pretty bleak especially with GPT4.huh?

kqr2 · Answer

Do you have links to Part 1 and Part 2 for reference?