Tech Industry job layoffs looking scary

Conan

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Personally I prefer tech startups (past their Series B). If you have the background you’ll get a really good salary, plus quicker ability for promotions and ‘unscheduled’ pay raises if your value proves throughout the company. If you’re at a 100-150 person company, you can very quickly become seen as indispensable if your work is A1. If you’re at Google and Employee #74,658 it’s much harder to stand out at a level that materially changes your outlook, even if you do great work.

Not to mention the stock option / equity piece. Yes Google / Apple stock is an excellent way to stably build up wealth overtime via equity, but if you’re a startup and you get acquired, the wealth growth can be staggering. I’ve been in startups the last 7-8 years and apart of 2 acquisitions (working in the 3rd now) and it feels like I’ll stay in this game forever, unless a Big Tech firm comes around and offers me more than half a million a year (even then I’d have to think on it).

You can get 25-50k in Google equity every year and watch it mature to 200k over the next 5 years, or you can get 25-50k in equity in the startup, and upon acquisition you can 10x. Imagine owning .002% of a company, then one day yall get acquired for $4 Bn. That’s $8 million in equity once cashed out.

But really it all depends on the situation.

Startups are a gamble. You're right about the upside but the downskde is that you could walk away with nothing but your salary and equity that's worthless.
 

IIVI

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Good point because the truth is a lot people with pivoted from let's Mechanical Engineering to software engineering post college because of the money.
Exactly.

I'll it's like they say: you want to be one step ahead so go to where the ball is moving to, now where it is.

If you're in college and you see everyone go to CS, it may be a signal to go somewhere else because the hiring in those fields may be desperate. That actually did happen the last few years where employers people were complaining their fields were drying up and going extinct. Many still are and most likely would pay top-dollar now for new talent.

So now those other fields' people interviewing can now name their price.
 
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Serious

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Exactly.

I'll it's like they say: you want to be one step ahead so go to where the ball is moving to, now where it is.

If you're in college and you see everyone go to CS, it may be a signal to go somewhere else because the hiring in those fields may be desperate. That actually did happen the last few years where employers people were complaining their fields were drying up and going extinct. Many still are and most likely would pay top-dollar now for new talent.

So now those other fields' people interviewing can now name their price.
@-DMP- you better go for that raise :wow:

You know what I was on an aerospace company website the other day. And they had a ridiculous amount of job openings.

I think it was like 20, for 1 location.
 

Conan

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Exactly.

I'll it's like they say: you want to be one step ahead so go to where the ball is moving to, now where it is.

If you're in college and you see everyone go to CS, it may be a signal to go somewhere else because the hiring in those fields may be desperate. That actually did happen the last few years where employers people were complaining their fields were drying up and going extinct. Many still are and most likely would pay top-dollar now for new talent.

So now those other fields' people interviewing can now name their price.

They aren't.

I know what I would be making if i didn't make the move from Engineering to tech. Significantly less. There's a shedding of talent to the tech industry but we've not seen an uptick of salaries on the engineering side to try and pull talent back. Between international students and the domestic engineering pipeline, engineering doesn't feel the need to raise salaries.

Harder to print money on physical products compared to software.
 

IIVI

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They aren't.

I know what I would be making if i didn't make the move from Engineering to tech. Significantly less. There's a shedding of talent to the tech industry but we've not seen an uptick of salaries on the engineering side to try and pull talent back. Between international students and the domestic engineering pipeline, engineering doesn't feel the need to raise salaries.

Harder to print money on physical products compared to software.

That's true too. Especially since software can see profits so quick compared to the physical counterparts.

Unless of course that physical counterpart is something like an iPhone (which also requires a software component).

It'll be interesting to see though how it plays out nonetheless because of the flood of CS majors worldwide. If there was any time to make demands as an employee in another field that time would be right now, but those boomers gatekeeping running the show in those places can be real stingy.
 

-DMP-

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I dunno what engineers y’all talking about but almost all electrical engineers I know learned how to program. 🤷🏿‍♂️

And that was back in the early 2k, no clue what they learning now.

My first job was actually a programming job.

EE is a pretty flexible degree tbh.
 

Conan

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I dunno what engineers y’all talking about but almost all electrical engineers I know learned how to program. 🤷🏿‍♂️

And that was back in the early 2k, no clue what they learning now.

My first job was actually a programming job.

EE is a pretty flexible degree tbh.

Engineers learn to program in general. Well maybe except Industrial Engineers :lolbron:

But OOP, writing production level code... That's not taught outside of CS departments usually. It's a skill engineers in other disciplines have to pick up after school. They can easier than most because they know how to code and think logically (loops, functions, objects, etc)
 

dora_da_destroyer

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gen z ruined the finesse
Do startups pay good? :lupe:

I wouldn’t touch until interest rates come back down
well funded series b+ yea, but you're losing cash in hand - RSUs and bonus - hoping for a lotto ticket. research has shown most people make more working for big companies, when you normalize that most options don't amount to shyt and it's a very small segment who see any meaningful cash out, startups are a gamble with long hours
 

JetFueledThoughts

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Startups are a gamble. You're right about the upside but the downskde is that you could walk away with nothing but your salary and equity that's worthless.
You’re very right about that. Or if you’re coming into a late stage startup now, you’re likely taking equity that is likely underwater compared to what your exercise price would even be (if they took a big funding round in ‘20-‘21).

But hey, no risk it no biscuit. I’ve nearly quadrupled my income / net worth the last 5 years by grinding at 3 different startups.
 

Nigerianwonder

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The most fake work is done by these same CEO's and C suite folks. If they did their job we wouldnt be in this situation to begin with. But they get rewarded for incompetence. Zuckerburg wasted billions and even changed the companies name for a vanity VR project everyone knew would fail.

A lot of smoke and mirrors in tech and it’s getting exposed. It’s all about looking better for investors. Companies who want to get purchased by a big fish, startups trying to raise money to public companies trying to boost their stock…all hired for “growth”. I’ve seen companies go on hiring blitzes with no actual need. “we need to hit these growth numbers”. What? The need is not there why are you hiring people with goofy titles? :why:. But money was free so hiring allowed them to get more funding. About meetings. I have way too many gotdamn meetings, let me do my fukking work! my workload has naturally increased. I don’t like where we are headed.

You are forgetting the hundreds of millions these companies get in tax breaks and incentives when they setup shop in cities and promise to hire people in exchange. The few thousand people they hire is a drop in the bucket to the hundreds of millions of dollars they are saving by not paying their fair share back into the economy. Most of these tech companies got huge cash reserves. How do you think they got them? Apple, Amazon, Microsoft, Google etc.. All sitting on 50 to 100+ billion in cash. Even Meta sitting on 40 billion in cash after all their blunders. But your mad at someone making 150k for doing "nothing'.
 
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