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A 'WHITE-COLLAR RECESSION’ Tech Jobs Are Mired In A Recession
2024 Nov 23, 4:47am 418 views 10 comments
Comments 1 - 10 of 10 Search these comments
1
Rin
2024 Nov 23, 6:13am
Rin
2024 Nov 23, 6:13am
Here's a question ... why would it not happen?
For years, we've had this chasm called the average software wage in Silicon Valley to the rest of the globe (not just Bangalore India). Only in the USA, is that salary in the six figures, the rest of the globe is from $11K/yr in Brazil to $72K/yr in Israel.
Almost any union worker in the US can get those wages. In Boston, that $72K/yr is a 40 hr week pipe fitter sans holiday pay and O/T. The O/T guy is somewhere north of $160K/yr.
Right now, Claire and I do our own coding and use offshore services to build out things which we don't want to spend time on. As more small businesses start to use this approach, the days of the $150K-$300K US programmer will go the way of the DeLorean, lots of attention (including 'Back To The Future' movies) but low output per dollar spent.
For years, we've had this chasm called the average software wage in Silicon Valley to the rest of the globe (not just Bangalore India). Only in the USA, is that salary in the six figures, the rest of the globe is from $11K/yr in Brazil to $72K/yr in Israel.
Almost any union worker in the US can get those wages. In Boston, that $72K/yr is a 40 hr week pipe fitter sans holiday pay and O/T. The O/T guy is somewhere north of $160K/yr.
Right now, Claire and I do our own coding and use offshore services to build out things which we don't want to spend time on. As more small businesses start to use this approach, the days of the $150K-$300K US programmer will go the way of the DeLorean, lots of attention (including 'Back To The Future' movies) but low output per dollar spent.
2
Rin
2024 Nov 23, 6:26am
Rin
2024 Nov 23, 6:26am
Rin says
And don't forget, there's nothing stopping someone in Brazil from using AI tools like Codium to assist in building out software components. What that does is make that cheap Rent-A-Coder, far more efficient as he'll be spending more time, pasting and correcting boiler plates, then having to start from scratch every time.
use offshore services to build out things which we don't want to spend time on
And don't forget, there's nothing stopping someone in Brazil from using AI tools like Codium to assist in building out software components. What that does is make that cheap Rent-A-Coder, far more efficient as he'll be spending more time, pasting and correcting boiler plates, then having to start from scratch every time.
3
GNL
2024 Nov 23, 8:30am
GNL
2024 Nov 23, 8:30am
Rin says
This is exactly how I created my business. I simply could have never afforded to do it any other way. There are several pitfalls to be avoided but generally, people want long term relationships so, good people are out there. Be careful and treat people fairly.
Right now, Claire and I do our own coding and use offshore services to build out things which we don't want to spend time on. As more small businesses start to use this approach, the days of the $150K-$300K US programmer will go the way of the DeLorean, lots of attention (including 'Back To The Future' movies) but low output per dollar spent.
This is exactly how I created my business. I simply could have never afforded to do it any other way. There are several pitfalls to be avoided but generally, people want long term relationships so, good people are out there. Be careful and treat people fairly.
4
GNL
2024 Nov 23, 9:18am
GNL
2024 Nov 23, 9:18am
There are many overseas companies with a staff of coders (this is great because several coders can combine skill sets to tackle any project.) that are headed by an owner that speaks good english. You can zoom with them and the prices are excellent compared to American prices.
As an example of the type of project they can handle (maybe this is not a big deal), I priced out what it would cost to have a very robust and high functioning client side interface floor plan app. This app will would use iPhones lidar tech to scan a home and output an instant floor plan. About $12,000. I ended up not doing if (for now) because I already have a solution and I have more pressing needs at the moment.
As an example of the type of project they can handle (maybe this is not a big deal), I priced out what it would cost to have a very robust and high functioning client side interface floor plan app. This app will would use iPhones lidar tech to scan a home and output an instant floor plan. About $12,000. I ended up not doing if (for now) because I already have a solution and I have more pressing needs at the moment.
6
Shaman
2024 Nov 23, 10:08am
Shaman
2024 Nov 23, 10:08am
My blue collar profession just keeps getting better.
Bout to hit a quarter million this year. Plus pension, medical, etc.
Bout to hit a quarter million this year. Plus pension, medical, etc.
7
Maga_Chaos_Monkey
2024 Nov 23, 10:50am
Maga_Chaos_Monkey
2024 Nov 23, 10:50am
Half of my biotech team were wiped out two years ago. Rebuilt and then wiped out again last year. Peers at other biotech company's have also been laid off like it's 2003 all over again (1st draft of the human genome came out; hangover from the dot com bust as well)
I've been getting an unusual number of requests to link up with people I don't know on linked-in. I was getting 2-3 recruiters contact me weekly in 2020.5-2022 and they've dried up entirely about a year ago. As have the linked-in job lists they send me that used to have good matches to my background.
So far I'm still hanging in there but my workload is obscene.
I've been getting an unusual number of requests to link up with people I don't know on linked-in. I was getting 2-3 recruiters contact me weekly in 2020.5-2022 and they've dried up entirely about a year ago. As have the linked-in job lists they send me that used to have good matches to my background.
So far I'm still hanging in there but my workload is obscene.
8
Blue
2024 Nov 23, 12:12pm
At least Bay Area, CA sounded like is in slow hiring mode!
https://layoffs.fyi/
https://layoffs.fyi/
9
GNL
2024 Nov 25, 9:31am
GNL
2024 Nov 25, 9:31am
Shaman says
That sounds like a great blue collar job. What do you do?
My blue collar profession just keeps getting better.
Bout to hit a quarter million this year. Plus pension, medical, etc.
That sounds like a great blue collar job. What do you do?
10
FortWayneHatesRealtors
2024 Nov 28, 5:02pm
GNL says
either service plumber or success on onlyfans.
Shaman says
My blue collar profession just keeps getting better.
Bout to hit a quarter million this year. Plus pension, medical, etc.
That sounds like a great blue collar job. What do you do?
either service plumber or success on onlyfans.
The Lede
By all the standard economic measures, America's labor market looks fine. But ask white-collar professionals who are actually looking for a job, and they'll tell you horror stories. As Business Insider's Aki Ito wrote last spring, that's because the job market has essentially split into two distinct tiers. Even though hiring has held up well for lower-earning workers, it has plunged for people earning six figures or more. We're in the midst of a white-collar recession.
Key Details
New data from LinkedIn — which tracked how often its users landed new jobs — shows which white-collar jobs are being hit the hardest.
The most surprising feature of the job freeze is the pullback in tech. Hiring has plunged 27% in IT, 32% in quality assurance, and 23% in product management.
Why has tech slammed the brakes on hiring? One reason is that tech companies, panicked by the Great Resignation that followed the pandemic, hired way too many professionals.
https://digg.com/insider/link/white-collar-recession-hiring-slump-jobs-tech-industry