America not the same as India, we still have plenty of cash in our system

Consultant

Generalist

Is the economy so bad?

Is the economy so bad?- Grapevine

I can't even seem to get an interview anywhere. There are no job openings. What is happening!?

How bad is the job market right now!?!?

Brand Marketing Manager

Welcome to News Discussion's Private Community

He says the US economy is about to get f*ckd

Product Manager

Liabilities and high interest loans rising, household savings falling. It's a very worrying statistic if people are borrowing money just to stay afloat.

Acche din

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.

Software Engineer

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That bad?

Software Developer

Welcome to Software Engineers's Private Community

I was talking with one of my friend regarding his job switch plans. He's trying since 4 months and applied to hundred's of opportunities. Of all those, only a handful he got some replies and of them just two interview schedule had happened. One of the interview he cleared and even then the company put him on hold for 2 weeks and later the company moved ahead with some other candidate(maybe the other candidate was asking for less pay).

Is Job market out there really harsh rn?

Research Engineer

Welcome to Indian Startups's Private Community

Do you think the worst for the job market is yet to come?

Thoughts on this?

Maharashtra has become the 1st state in India 

To cross $500 billion economy.

For reference the size of the Indian economy in year 2002 was 500 billion.

Maharashtra is further ahead of any state

What do you guys think is the reason behind the job market being at its lowest level since past 6-7 months ?

(P.s- i made a horrible mistake by joining a cpa outsourcing startup , I'm not been assigned any client for the past one year also they have not given me any kind of training. I'M FUCKING TRAPPED !!)

Job market

External Audit

I am in 2nd year in college pursuing computer science..so far most of the time i do competitive programming and sometimes web development..i am working hard but because of the never ending depressing posts on LinkedIn and blind about layoffs and recession plus no hiring in big tech..i feel that all my hard work will be not worth it in future..also the people have made this wonderful field a joke by this standup comedians who joke about engineers every time.........i really want to contribute to this society and earn great amount of money as well but the hope is decreasing day by day..

What should I do😔😢?

Depressed

Welcome to Personal Finance's Private Community

So I started working full time for 10/2022 but I had some family responsibility so I just focused on saving as much cash as I could, now that that work is done (still have to pay some money back to people) I want to start investment at least 10k per month

Can someone please guide me where to start.

Investment ideas for newbie

Just an open ended question on why are layoffs happening on such a scale. I personally feel the skill to salary ratio has fucked up so much lately that the companies are having to fire people who are essentially useless to them. More of liabilities than just assets! What do you think?

Layoffs - who do you blame?

Absolutely agreed. Hiring in hordes because money was easily available earlier and founders/companies thought that they will be able to build more and hence get more value / valuation sooner was the core reason why the skill to salary ratio got f’ed up. And it’s good that it’s being reset now. 
  
 Coming to who to blame for layoffs - no one. It’s pure capitalism - there was money, hence there were jobs. For whatever time people got paid a lot more than they deserved - they should be rather thankful. If they built their life around the assumption that this much money was the new normal, it was their naïveté. Companies got to survive, and they have to do whatever has to be done… as long as it’s ethical. Firing is fine. Not paying salaries / dues is not.

Founding Engineer

Software Lead

Welcome to Office Gossip's Private Community

Why are they laying off despite the market boom? Especially azure

Microsoft layoffs

Guys..how is the job market in India currently, I heard people are getting less call for interview now a days ..is it so ?

Salesforce Developer

2001 was a Dot Com collapse.
2008 was a banking collapse that hit IT too.
This year first it was the Tech companies and now its the Banking, Financial Sector that is getting hit, making it the worst of all recessions.
And its expected to get worse with Fed likely to hike up interest rates.

Its like this year we are having the worst of both 2001 and 2008.

Tough times ahead

446K likes, 6,277 comments - khabrejaipurki on September 1, 2024: "See positivity in everything😊

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Follow for more: @khabrejaipurki 

#jaipur #jaipurdiaries #reels #reelinstagram #funnyvideos #funnyreels #potholes #sarcasm #explore #explorepage #viral". 

Jaipur | Rajasthan | on Instagram: "See positivity in everything😊

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Follow for more: @khabrejaipurki 

#jaipur #jaipurdiaries #reels #reelinstagram #funnyvideos #funnyreels #potholes #sarcasm #explore #explorepage #viral"

Pothole economy

Market is that bad that this isn’t about 4-5 people but 72 candidates at IIM-L do not have a job.
 Saw this on Twitter.

IIM Lucknow is reaching out to alumni to help them with placements.

These days, I can't help but keep on thinking about post white collar labour economy and it's implication on our day to  day life.... 

We can keep on dwelling in our wishful cocoon but fact remains that world is going to be vastly different in 4-5 years vis a viz today... 

In that scenario, let's us discuss some scenario :
1. What will be impact on rental yields of tier  1 cities and consequently what will be overall impact on Indian real estate 
2. What would be impact on banking interest rates 
3. Where will you park your money in that scenario : Gold, Indian Equity , Big Tech Equity , FD, Real estate or Cash.. 

My opinion :
1. As high paying jobs for majority of people diminishes, Rental yields of tier 1 cities will come down thereby directly impacting real estate. This will result in huge NPA by those people who have taken loans for 20-30 years period. This will eventually bankrupt real estate developers thereby making real estate deflationary. 

2. We will begin to witness  overall a deflationary society where cost of services like Education, software, finance etc will drastically reduce. Moreover due to high NPAs,  banking interest rate will reduce. Home loans for tenure of 20-30 years will drastically reduce due to increased uncertainty. 

3. Gold has historically been inflation proof asset. However will it still be a good asset to invest into in a deflationary society?  What are things that will still hold value then? 

Don't you think current big techs will become East India Company of future indirectly controlling world's economy? 

I would love to know what do grapevine folks think about the same  !

Discussion about post white collar labour economics

Had a chat with a legendary soonicorn founder yesterday evening and his take was that we are definitely not getting another bull run this decade.

I obviously think more optimistically and hopefully things will look up soon.

What do you all think about this tho?

Reply in comments. Do you all think we ever getting the bull run again? 😔

We’ll 100% see another bull run. It’s just a question of when.  
  
 Hopefully sooner rather than later, only a bull run can fix me…

I'm having a total 3 yoe, which companies are hiring for hybrid/remote SDE-2 roles in ncr region?

How much hikes are you guys getting?

Is the economy so bad?

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