A coworker who lost his job in February said he is yet to receive a single job offer. Luckily, he can afford to be out of work but what about those who don't have a wife who works or a safety net? This job market has increased my anxiety and fear of being laid off tenfold.
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Your penchant for hyperbole is entertaining but not reality. I hire, and my directs and peers hire, and we repost jobs quite often because there are zero qualified candidates. There's not "500 qualified candidates for every job", not that are applying anyway. Maybe in your space, but you're obviously not hiring for "every job". In any event, the fact remains, a pool of a couple hundred million potential applicants is always better than one of a few million and the job market will obviously not remain the same forever. It's cyclical, and when it turns the other way and you're scraping the bottom of the barrel, what's the solution then? More of the same? Where wasting billions of dollars on buildings for no reason. They don't bring value, just risk and money we'll never get back. We can't afford it and we're wasting a huge opportunity to lead the industry rather than being a follower with a cr-p rep.
What state are you in?
“It holds up just fine, especially in this environment.”
What environment would that be? The one where there are 500 qualified candidates for every opening?
If you have to have a job that’s 100% remote, great. You do you. But don’t blame your long term unemployment on the job market. You are the one limiting your opportunities, nobody else.
I was laid off from WF and it's been almost 2 years of searching so far - others on my team also 2+ yrs looking. Doing all the right things, professional resume reviews, LI reviews, networking, you name it. Looking in all industries, FTE and contract, willing to take massive (40%) pay cut. Nothing. Nada. Zilch.
It's brutal out there.
"It’s a recession already but they won’t admit because of the election - they’re also rigging the stock market to keep it up"
What are news sources saying, the ones you trust?
It’s a recession already but they won’t admit because of the election - they’re also rigging the stock market to keep it up
@cij+1sqXPJWA depends on your definition of worth having. From a manager’s POV, the one worth having is not necessarily the one who wants to WFH so they can save on commuting costs.
If two people apply and one is willing to show up, and one isn’t, who are you going to hire? We are not talking rocket science here. Lots and lots of qualified people are out there. When you start to narrow it down, why would you pick the one who thinks their stellar skills entitle them to write their own ticket, when there are candidates with equivalent skills who are willing to do whatever it takes - including shower and show up?
@qjf+1sqXPJWA And you’re still incorrect on your humblebrag. Good on you if you did get a position as listed, but that also means you’ve been out of the market for several months at-least. Nobody said there aren’t any enjoyable positions out there, but the candidate pool has expanded tremendously. Now you’ve got to be hyper-vigilant in monitoring openings, apply instantaneously to be within the first hundred or so applicants and hope that you wiggle through AI and catch a humans attention.
You could be the most qualified candidate ever but if you’re #400 in the stack that B+ applicant is going to get the score.
It holds up just fine, especially in this environment. Every person in banking that is worth having would be applying for jobs at WF if we pushed WFH while other banks do not. Massively larger pool of candidates and they'd take less money for the privilege as well. There's zero downside and we'd destroy our competition. Or we could act just like everyone else and pin everything on our stellar reputation and artificially tiny pools of candidates. I'm sure that'll work too. 😐
There are jobs out there, but unfortunately they are jobs you have to actually go to. The argument that requiring people to actually show up at work means companies are not going to attract the best people doesn’t hold water. From the companies POV, the best person for the job is the one who is willing to actually work there.
So yes, the supply of good-paying jobs you can do in your PJs is very limited. But that doesn’t mean the overall job market is bad. It just means the jobs you are willing to do are in very short supply.
You can find jobs after the storms here end. Ended up earning more and being full remote. Great team. No set-you-up-to-fail metrics or scams. If you're a top earner here and other orgs won't pay as much, take a lower pay and use these chaotic couple of years to evolve skills and be marketable. When things pick back up find a better role. It's tough but constant evolving as working professionals is the only way. Plus, some earnings and employment experience is better than having a gap during trying times ultimately to be let go or laid off in the current dumpster fire.
First, let’s look at the reasons
- business cycle (people forget they exist)
- Congress (all of them, national debt is drowning us)
- the president’s policies (you can’t just give free money away like to ex students who signed contracts and to illegals who flood our cities)
- Federal Reserve - quantitative easing has huge implications that need to be reckoned with and here we are doing that
- us (but typically young people under 35 years old) who forget about real high unemployment levels that lasted in prior times 1999-91, 2000-2001, 2008-2011). Some of us spend way too much. People on this board make (or made) a lot of money but many spent it all while some saved a bunch. Which group is worried more? We also have people with 3 yoe refusing to take 35-40k per year jobs. Or I saw one on LI who had 20 yoe and it said don’t bother me with less than 85k and he lived in nowhere Indiana. Stop being greedy and spending at Starbucks.
My position is far better than it was at Wells. Fortunately, I learned new AI skills, particularly AI code generation skills (mainly via Mosh on youtube), before being laid off. Companies of all sizes are investing in AI but don't know what they are doing. Reminds me of the early 90's internet Learn ASP days. After being laid off I gave a talk at a local .NET user group not only on AI code gen, but using AI in all of the SDLC (Requirement elicitation, test gen, reengineering, code gen, delivery, etl, microservices). Yeah, some of this was composed after being laid off.
After a month of giving this talk, I had 13 contacts with upper management, mid-management from training companies (3) and from 2 Fortune size 500 and above. Amazing in that there was only 30 or so people at the .NET user group.
To all those quietly quitting -- evolve, forgive, and transcend as you wait for your layoff.
Wells Fargo is poison on resumes. Create your own job....buy an online business and watch shark tank for inspiration. Don't wait for others to hire you. Hire yourself.
- Pray and have hope
- Read Dave Ramsey books
- Network with others
- Update the resume
You will find the way!
My managers gave my job to h1b workers from China. He lied about his MBA, he lied about not able to find qualified workers in US, after laying us off.
I pray to Jesus that he suffer the same fate as I am - being forced to transfer my hard earned knowledge, then being pushed to change my career.
Scrimp and Save(actually invest)
Also never fear the future. There's Uber, Lyft, Dash and so on. Will help you pay bills while you job search for corporate roles
"economy is strong as h3ll"
- JB
All those who voted for the destruction of amrerica should reap what they sow
We're all in the cross hairs right now, all of us. The only prudent course of action is to do everything you can to prepare. Brush up that resume, update your profiles, start looking now, and perhaps most importantly save as much $ as you possibly can. You can build your own safety net with enough time. Good luck everyone.
I am not naive enough to think I am the best of the best but I absolutely know my value. Never in my career have I ever not gotten any follow up like now.
Even blind squirrels get a nut from time to time so just from volume you would expect a selection here or there. YMMV.
All job markets are flooded. Anything WFH is being bombarded with thousands of applicants. It is certainly an employers market now vs the Great Resignation period.
Not trying to fearmonger but the market is hot garbage right now. Anyone who says they left and got some fantastic new position at a much higher pay are either lying through their teeth, were ridiculously underpaid and still are at this new job but they don’t know it or they got miraculously lucky.
If you can ride it out start searching now otherwise whatever severance you get really will most likely need to be used to survive. Not much ability to double dip out there.
dont give up hope
I am praying for all who are impacted by the layoffs! Look to Jesus and the Bible for provision. He will provide the job and peace in the midst of this difficult trial. You, and others, are not forgotten!