The strong job market may be about to take a turn for the worse. That could come to haunt those who made choices based on today’s conditions.

ogc163

Superstar
Joined
May 25, 2012
Messages
9,027
Reputation
2,150
Daps
22,319
Reppin
Bronx, NYC
One of the more overlooked aspects of this situation are the positive network effects that come with being a college grad. Nepotism and referrals are a major part of the hiring system and if you don't have the degrees there is only so much a Hiring manager/HR can do in getting you hired.
 

Born Rich

triple entendre, don't ask me how...
Supporter
Joined
May 31, 2022
Messages
858
Reputation
908
Daps
2,259
Reppin
W$GT$
i find it amazing right now that tech workers are being laid off in droves and grocery clerks are now able to tell them to learn to stack shelves

Is the tech space oversaturated?...Not in tech so I'm ignorant to the market dynamics...
 

Bubba T

Superstar
Supporter
Joined
Jul 24, 2015
Messages
8,631
Reputation
2,729
Daps
55,075
Is the tech space oversaturated?...Not in tech so I'm ignorant to the market dynamics...

Not saying tech is over saturated, but I have noticed trends of tech companies laying off people over the last two months. Even Elon Musks remote work agenda seems to be a masked attempt to begin layoffs
 

Jcotton1

All Star
Joined
May 25, 2022
Messages
1,805
Reputation
-142
Daps
2,947
Glad I work one of the family businesses ie medical supplies. People will always need medical help of some kind.
 

dora_da_destroyer

Master Baker
Joined
May 1, 2012
Messages
65,275
Reputation
16,202
Daps
267,958
Reppin
Oakland
Is the tech space oversaturated?...Not in tech so I'm ignorant to the market dynamics...
no, tech layoffs are cyclical, and i will say it's a very forgiving industry for certain roles, SWE will always be in demand. tech cuts usually hit people/HR/recruiting, marketing and sales the hardest, but while successful companies that over-hired shed these roles, many land at a new crop of companies that are just beginning their growth journey. furthermore, almost no one cares about tenure, so if you go to a "tier 3" company during a rough market, soon as "tier 1 & 2" are hiring again, if you fit their "profile" you can jump back in even if you only been in your current role 5-6 months.
 

Born Rich

triple entendre, don't ask me how...
Supporter
Joined
May 31, 2022
Messages
858
Reputation
908
Daps
2,259
Reppin
W$GT$
no, tech layoffs are cyclical, and i will say it's a very forgiving industry for certain roles, SWE will always be in demand. tech cuts usually hit people/HR/recruiting, marketing and sales the hardest, but while successful companies that over-hired shed these roles, many land at a new crop of companies that are just beginning their growth journey. furthermore, almost no one cares about tenure, so if you go to a "tier 3" company during a rough market, soon as "tier 1 & 2" are hiring again, if you fit their "profile" you can jump back in even if you only been in your current role 5-6 months.

Damn :francis: ...I grad from my masters program in I/O Psych next year...current job market is promising, so I hope it sustains...would love to get in with these tech companies as an outside consultant on human capital management and leadership dev...tryna develop more brehs into leadership positions in these tech spaces...
 

NZA

LOL
Joined
May 3, 2012
Messages
22,122
Reputation
4,210
Daps
56,826
Reppin
Run Thru U Like Skattebo
Is the tech space oversaturated?...Not in tech so I'm ignorant to the market dynamics...
tech companies receive way more speculative investment than most other industries. this gives them tons of money early without having to prove they are well-run businesses. in good times, this is fine but if a recession is coming, the capital dries up and you have to actually prove yourself. most execs are not as smart as they think they are, so they start with low hanging fruit to save their companies - cut labor costs.

this can be cyclical - a market correction taking their job but they get rehired somewhere else, but a recession or "stagflation" is something else...
 

romeodunn

Pro
Joined
Mar 11, 2022
Messages
223
Reputation
86
Daps
1,191
You must go to college even tho there's no jobs and high loans says a college professor
:dead:

Community college first two years, cheap local state school for the remaining two. Not that hard. A lot of entry level corporate jobs require at least a bachelors. College is not a must but it can be cheap or even free if you plan properly and it does not hurt to have that on your resume.
 

CSquare43

Superstar
Joined
Jun 7, 2012
Messages
14,881
Reputation
10,208
Daps
53,717
I definitely get young people, who want to forgo college right now, to make money trying to establish themselves and be independent.

However, from personal experience, having graduated hs during the great recession life, has taught me otherwise.

I remember when I first started college shyt was bad. Everyone and they momma was going back to school. I went to a community college. And I mean, I saw people in my building who were in their 40's attending CC, when the recession started. Not that attending school is bad or anything, but I mean these were people who I never saw work. This was before remote work was really a thing. Online classes weren't even really utilized quite yet.

I remember people couldnt even add classes. It was bad. I'm talking 40 people were trying add, an already full class.

A lot of my cohort got frustrated trying navigate the unusual dynamics then dropped out. It took a lot of my peers like 2-3 years before they could even find any type of work. I was considered lucky at the time to be working at a grocery store making $8/hr at the time.

Employers used to always threaten to fire you. Customers would always come up ask while I was working, if they were hiring. It was rough man. This encouraged me to stay in school more than anything because I didnt want to be 30+ having to resort to starting over at a minimum wage position, like I saw happen.

I say this to say, I get making $21 an hour at 18-21 seems like good money. With a college degree, an individual's earning potential goes a lot higher, quicker.

Within 2-5 years a college graduate can double or triple their entry level income, the same can't necessarily be said for working at target, walmart or kroger after the same time period.


/rant.


I have very few true regrets in life so far but jumping right into the workforce out of HS is one of them.

I've been able to do alright over the years but I have an advantage that my kids don't so we've always told them they were going to college and so far we're on track. One about to get out and another about to start.

I hope that puts them on a better path with a lot less bumps than what I went through.
 

OperationNumbNutts

Superstar
Joined
Mar 11, 2022
Messages
6,740
Reputation
714
Daps
19,406
I actually see the complete opposite happening. :manny: I think a lot of college educated remote workers will be losing their jobs in the future (maybe near) to people oversees. Companies are figuring out they don't need people in the office. They can shift these jobs overseas, not worry about work visas, and save money on taxes and benefits alone. We've already seen it with customer service call center jobs.
 

Anerdyblackguy

Gotta learn how to kill a nikka from the inside
Supporter
Joined
Oct 19, 2015
Messages
61,800
Reputation
17,567
Daps
345,501
I actually see the complete opposite happening. :manny: I think a lot of college educated remote workers will be losing their jobs in the future (maybe near) to people oversees. Companies are figuring out they don't need people in the office. They can shift these jobs overseas, not worry about work visas, and save money on taxes and benefits alone. We've already seen it with customer service call center jobs.
This is more hyperbole than factual
 
Top