Median kya hai? Average is the wrong metric.

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Software Developer

Software Engineer

Welcome to Indian Startups's Private Community

Guess Recession is knocking on the door

Program Manager

Guess Recession is knocking on the door- Grapevine

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Have been hunting for a job for a while. Non tech background and completed mba in 2022. Open to working in sales, marketing and no industry preference as such! 
I keep hearing news that some companies are hiring in bulk and some have hiring freeze. So is this the time to upskill into one of the trendy things or keep looking for a job ?  Advise, experiences and informs about companies hiring is most welcome!

Non tech folks, is the recession and hiring freeze here?

Business Development Manager

Welcome to Software Engineers's Private Community

Hello Folks! 
I'm a newbie on this platform, yet trying to put my insights as much as possible. Here to ask people out there who work in IT sector about how is the market going so far and when will this recession get down? To the on-campus and off-campus placed students, how did you manage to get placed even during the recession. Although the placements at our college is still on but only for Non-IT branches. I think the only people who are happy about the recession would be Non-IT people who have less competition and are getting placed at the core companies.

Recession

Germany and many other nations on border line.

Impact on India viners?

UK under recession 💣💣💣

Senior Consultant

Welcome to Banking & Finance's Private Community

thought we were already in a recession

Everyday I am seeing hundreds of job posts when I apply there is absolutely no reply. That got me into thinking whether recession is going on because I am not getting any reply or not as I am seeing hundreds of job posts !

Is recession still going on or not ?

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Here is the way it happens
Fed in USA will increase interest rates to tame inflation. VCs will have to generate greater returns, because USA bonds give better return than most of the bets they’re going to make. Half of the portfolio companies of normie VCs will go under. 

All the limited partners who put in the money into VCs pocket to invest, will start drying up. They'll question every investment the VC makes, so ofc they will become risk averse. 

So VCs will force their companies to become profitable, cut down cost in every way possible. 

Startups will end up firing 20-30 per of the workforce, its do or die for them.  


Now, what can you do?
1/ have buffer amount in fixed deposits (5-6 mos of your expenses), amount you can liquidate easily
2/ now is the time to work hard and prove your worth, be the top performer in team. For the first time in 5y, hiring and retaining equation is in employers favor 
3/ cut down on buying any assets which are not going to appreciate (esp the ones you’re buying on Emi)
4/ upskill yourself 
5/ if possible get a pvt healthcare insurance for you and your loved ones, don't depend on corporate insurance. 

Remember, USA’s recession is world’s recession. Only question is how the cards are going to fall, together all at once or one by one. 

Brace up, next 9 mos are going to be the most difficult times you’ve seen in tech in last 2 decades. 

Godspeed.

ps: sector i would stay away from india perspective- edtech for now

Most of the millenials and genz folks working in tech in India would face recession for the first time

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There are some chatter in the finance and economics circles that 2024 may see a world-wide recession, especially in the west (though it is an election year in the US).

What do you think (or better, know more) about it? Will it be as bad for IT as what we had post-Covid?

Recession by mid 2024?

Google lays off more employees and moves some roles to other countries

Covid charity hiring and Diversity hiring ate google from inside just in 3 years. 🥲

Research Engineer

https://www.timesnownews.com/bengaluru/bengaluru-frustrated-by-work-pressure-colleagues-hire-goons-to-beat-senior-up-5-arrested-article-109082101

👍

Corporate Strategist

Is every company which is laying off is affected by recession?, or is it just using the opportunity(blaming recession) to cut down the work force which increased due to over hiring?

Recession and layoff related?

Ye recession kab jayega.. din bhar me 20-30 jagah apply krta hu to agle hi din 10-15 jagah se rejection mail aa jata hai.. ab freshers hone ke naate kuch hwa nhi lgta ki Karu kya ab .. kitna accha project banau ..

Badi samsya hai bhai lyf me .

Recession ka अंत lekin kab ??

Japan is no longer the world's third largest economy. The Japanese economy has slipped into recession. Japanese Yen is at 33 year low against USD. Does this signal the start of a domino effect for other major economies? :')

Japanese economy officially enters recession!!

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Hey people 👋🏻

Where am I lacking like i applied in thousands of jobs but still getting a handful of interviews, also in interviews I don't know where I went wrong.


PS How can I make sure I'm on the right path and what I should do to increase the chances of selection

Saw a similar post somewhere from an European and I think it’s pretty valid for India.

For context, I am in my early 30s, a home owner, living in tier-2 city with a pretty high salary. Recently got married and my wife also works as an Enterprise AE for a listed US company. Our cost of living is pretty low given the house and tier-2 city. Even if we had a kid, the overall cost of living will not change a lot. 

I got to where I am, economically, by a combination of hard work and luck. Luck definitely was a huge part of it. Knowing the right people at the right time, working on the right technologies helped a lot more in advancing my career a lot more than grinding for good grades. Even the ability to buy a house without much debt, was partly because I was lucky to sell my shares in a fairly small startup. 

It would be easy to say things aren’t economically bad based on my own experience or that of my close friends. However, when I look at things more objectively, I can’t help but come to the conclusion that we are screwed as a generation. Except for maybe the top 1%, salaries are not keeping up even with inflation. Housing costs, specially in tier 1/2 cities are unbelievably high even if you want an average apartment. Jobs are no where to be seen. The whole generation is living in the hope of the stock market rally never ending. This seems completely unsustainable as a nation. I might be doing well for now, but I still recognise how these are real problems for most Indians, who’ve been waiting for India’s century for 20 years

Given that the services industry contributes more than 50% to the GDP, the current state of joblessness, the overall sluggishness in IT and related sectors, and the fundamental changes happening to the way IT services now work, I wouldn’t be surprised if we see a complete recession in the next 4-5 years.  

Lately, there has been a lot of criticism of anyone expressing anger on how bad things are but I think it’s helpful to talk about this.

Is it possible for those doing well to still acknowledge how our generation is screwed economically?

Great post, I was thinking to jot down something similar.     
 The way I see is that our generation(I'm Gen Z), is financially fucked due to 2 main behavioral changes:     
 1. Increase in consOOmerism: We're zoomer consoomer. GenZ is known for show off culture. We will buy the latest and greatest phones on EMI every 2 years. People spend thousands on sneakers, bags, branded clothes.     
 2. No Savings: People are no longer saving money. My then girlfriend used to got mad at me in market when I tried to bargain. Its considered a turn off lmao. People find bargaining bad now... like I'm looting a poor guy. People don't realise how much our parents sacrificed and bargained everyday to save money.

When the market will stable , when this layoff period will go away ? Any thought 🤔

Guess Recession is knocking on the door

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