Fun fact In US- google is firing In INDIA - THEY R HIRING , now they r building the 2nd largest google office in the world in india 😢 Same for microsoft
Software engineer since 2006 in big tech. Tech is cyclical. The highs can be very high, and the lows can be very low. If you want to be in this field, you should always be ready for the rug to be pulled out from under you. Your income is NOT guaranteed, and you should use the good times to stash away for the bad. We went bonkers during the pandemic, and things are correcting to something more normal. It's really not surprising or new.
But the pandemic has been over for awhile, i dont think that logic applies anymore. Companies just want to keep relying on AI and cheap labor to maximize their profits
@@kolyxix I guess maybe I should've elaborated a bit more, for people outside tech. During the pandemic, tech became a lot more important because people were stuck inside, and tech companies went on a FOMO hiring spree, desperately trying to grab engineers before other companies did. The hiring bar was lowered, and compensation went through the roof. Now that the pandemic is over, companies are sitting on this overly-large pool of engineers with out-of-whack compensation packages, and they've been reverting back to something more inline with "normal", trimming the excessive amount of engineers, particularly low-value ones (lower quality with high compensation)
There were 400,000 requests for H-1b visas this year, yet U.S. tech unemployment is highest it has ever been, there were 350,000 tech people laid off and every linked in tech job get 100+ applicants. There is no cycle going on, there is just massive discrimination against better qualified local engineers. Go read DOJ vs Facebook 2020 (or Apple 2023). 2600+ cases of discrimination against better qualfied local engineers. Managers from a certain country, hire only from that country, and they protect their own from that country from having to compete with better qualified local engineers. Simple as that. If you want to open your eyes wide, just go read that indictment it is on the USDOJ.
It was those 23 year old recruiters who happened to be attractive girls; who got thrown out on their ass once the companies realized they provided no value.
@@jeffc3455 even TH-cam creator isn't all roses and sunshine, worked with one that pumped out 1500 videos in 3 years. Your work ethic has got to be good :)
Apple and Nvidia didn't do any mass layoffs, because they didn't get on the hype train during the pandemic. Its the fault of these companies they over hired.
Far too many people have this asinine idea that your should live solely to work and your entire life should revolve around work. That work amounts to making others richer and handing you a few scraps to keep you going.
Because you've got to get money for a living anyway, and for 90% people it's their salary. And the people dream of better working conditions that tech companies tend to provide, not to mention incomparably better wages than anywhere else, there's nothing new here.
@@swapnilchand338all jobs suck. Don’t matter if you’re a teacher, an office keyboard warrior, a chef or a construction worker. At the end of the day everyone finishes their shift tired, hungry and wondering if you made the correct life choices
@@swapnilchand338 at this point the only jobs at will actually pay you enough at rhe end of the day are medicne and law. Out of all my friends, only the one who went to medical school can actually afford a middle class lifestyle.
So what's bad in that in Europe does that for cheap labour from China, it s how corporate works and after india there will be African who will take all jobs
A 500k Software Engineer in SF, becomes a 350k Software Engineer in Austin, becomes a 250k Software Engineer in London, until it eventually becomes a 100k Software Engineer in Mumbai.
And the hell they put you through just to get the job. They tried to put me through a 3-hour interview process at 'Electronic Arts,' complete with coding challenges, meetings, a lunch break, and all kinds of crazy stuff. And that was after three rounds of phone interviews with various people at the company. And that was just one of the places I applied to-other companies made you do equally crazy things. If you dare to apply to more than one place, you'll be solving coding challenges on whiteboards, completing take-home assignments, and interviewing with 3-5 people at each company. And there's still no guarantee you'll get the job.
@@UnderscoreNorth It should be an open technical discussion to understand your ways of thinking. Additionally, the person interviewed should contain slight pressure - as he/she WILL interact with less technical (and sometimes rude) management. IMHO 90 minutes is more than enough. All of my "good" interviews were like this, not coding some absurd crap that can be searched on the web / asked to GPT.
If a publicly traded company opts to outsource overseas to reduce expenses, it should begin by outsourcing the CEO position. By saving millions in this manner, the company can maintain the employment of numerous American workers. These employees, in turn, will contribute to the local economy in various ways.
@Russo2024Zir good point. Let's say you need to hire someone to run your billion dollar company. All of your money is tie up into this company. If company stock value drops, it means you PERSONALLY lose money. With that in mind, would you rather pay a pretty penny to hire the best CEO or would you rather go cheap and hire an overseas worker to run your bussiness? Which one do you choose? Now imagine it is not CEO but low wage workers at your company. They are a dime in a dozen, little need for bussiness skills, decision makings, ect. In fact, you only want them to do back breaking manual labor and it just happens that people in third world country are very good at intensive manual labor compare to the westerners like say an American who will complain if you work them more than 40 hours a week. Do you want to go cheap and outsource or do you want western workers? It really is about skills. The more skills you have, the less likely you can be outsource. I have seen Indian and Chinese immigrants making insane amount of money in American big tech companies. Why wouldn't they just hire them in India? Or in china? Probably because these people dont want to be there. Companies are willing to still choose them over the same Indians or chinese in India or china even if they work for far less? Why? Those who are skilled enough to be hire in America is the best of the best that India or China can produce. They are simply on a whole new skill level. Americans workers are similar. If you have the real skills, you will get hire and not worry about outsource. If your skills can easily be reproduce by people who can do them in India or in china by people who aren't skilled enough to qualify for a skilled based immigration visa, oh boy. You better skill up because these jobs won't be staying in America. this is what i tell people when they complained about companies going cheap by outsourcing or hiring immigrants. me: if companies are being cheap by outsourcing or hiring immigrants, why do i see these white collar immigrants making so much money here in America? them: because they are in America! working under American laws! me: so why don't these companies hire these people in their own country then? where they wont be under American laws and can be exploited? them: ....... because of diversity hires and all the woke bullshit me: facepalm* people in this country have a skill issue. I interview in a tech company and i did not get the position. A Chinese machine learning engineer got the job. he is now making 200k at that company i interviewed in. i realize this. i don't have the skills and got outcompete by someone who does. deep down i know there is no scapegoat to blame, it is simply a skill mismatch. i choose to accept this. not many do however. instead of looking at their own shortcomings, they blame it on every outside forces imaginable and on the greed of the companies.
@Russo2024Zir not less skilled but less paid. Why would you ever believe companies can pay them any less by outsourcing? Works for lower rung employees, CEO? Plenty of americans would do the job of CEO for even less. Whether they are qualified or not is a different story.
I think the Medical field provides high playing and stable jobs, despite the long hours, stress and high responsabilities. It's the most stable field IMHO.
I've worked at 3 FAANG companies and it took me over 8 months to find a new job. The market is absolutely brutal. 😢 If anyone who is looking for a new job reads this, I wish you the best of luck, I wouldn’t wish job hunting on my worst enemy.
Yup I have experience at Meta, Google and even bank of America as a project manager abd a year and a half I'm still looking to get back in my field. Currently working as an admin role since they were hiring. Getting paid way less. This market is a joke.
Working in the tech industry has always been scary. Look at the amount of outsourcing of jobs to India, China, Taiwan and Eastern European countries. Every group I worked with for the last 30 years eventually move all or most of their operation overseas. I'm more worry about that than (the over HYPE) AI.
You won't want to work in tech in India. I don't work there, but I see them. 12-14 hours a day. Fuck that shit. Even if you give me lot of money, I won't work there.
"AI"? You mean "Actually Indians"? I feel like I should clarify something, just in case: It's not really about the Indians, they could be any nationality. I didn't call them out specifically because I'm racist, but because that's silicon valley's favorite nationality when it comes to H1B visa abuse and cheaping out on hiring people.
If you're wondering why they're losing their jobs, it's because companies are hiring Indian IT professionals who are willing to work for lower wages, allowing these companies to cut costs.
This is happening at my current workplace, they're hiring all of the new staff over in India and our colleagues see a big shift coming, with little to no local talent in these sectors and the jobs going to India, permanently.
In my country, most job openings I've seen also ask you to declare if you've ever been terminated before (in addition to whether you have a criminal record). So if you were previously retrenched I was worried if you might forever be assumed to be a second-rate worker & thus forever have depressed wages/promotion, probably what is called _hentah kaki_ in Malay ("forever marching in the same spot" in a military parade, instead of advancing closer to a destination)
Nobody questioned when companies were hiring like crazy during the pandemic. Now everyone has a Pikachu face when they said they never needed those employees.
Wanna get a 200K job? Go study leetcode 8h per day, learn 4 programming languages, 10 frameworks, code and get certifications in your free time, masters degrees preferred and also deal with 5h of mandatory meetings every working day lol
@@m1kefx yeah, plus with ChatGPT the demand for new engineers fell to 1/4 of what it was before in my multinational Fintech company, the salaries stagnated too.
Not only mass lay offs but my company started outsourcing engineers from different countries lmao. I had to train them and … I lost the my joy in this field.
My colleague also got a bit bothered that the programmer she has to work with is now based in India, as it's 2.5h behind us in time difference, so if she needs to look for that programmer for help she can't do so too early in the morning as he wouldn't have woken up yet
well when rates are low, investors don't want to hold onto cash so they invest into VC funds and such, which in turn funds a lot of tech companies. When interest rates go up, investors either save cash or take on less risk - and unfortunately most tech is too high risk for most investors.
The tech industry is a LOT bigger than just software development. The enitre field of IT makes up the several different domains from Cloud computing, Cyber Security, sysadmin and networking. There will always be plenty of jobs out There because you aren't tied to a specific industry in IT. You can work in I.T for any company, big or small no matter of the industry. You don't have to work for tech companies. You can work for a bank, school, manufacturer, medical...
@@andrewmunczenski3632 Well technically almost no job in I.T can be replaced because A.I wasn't meant to replace but to assist. A.I can't make decisions on its own plus it lacks creativity. You still need human interaction. Very much like DevOps was meant to streamline processes not take jobs away. You learn to adapt to industry changes and skill sets.
@@andrewmunczenski3632 The only way some one could get replaced if they aren't using some form of automation in their day to day work flow. It's all about keeping your skill sets up to date and not be a dinosaur. People that don't use A.I or DevOps tools would get replaced. A.I can't replace people on its own which is a common misconception. Its your acutal skills!
The common misconception with A.I, is people will think it will place jobs on its own. That's far from he truth. If you failed to keep your skill sets up to date, you will get replaced. Don't be a dinosaur. People that use AI tools will have a much better future than ones that don't.
The bottom line of this video is it is important to have an emergency savings/ investment fund set aside for anything that can go wrong because it is inevitable to have downturns in the market
Its weird. Ive always been into computers. Ever since Wolf3d came out and my uncle taught me the command to run it. There is a lot knowledge that has to be learned about different software programs, coding, how certain applications work on the OSI and TCP/IP model etc etc. But companies dgaf unless its bringing big profits in. Whats even more strange to me is a lot of construction and trade workers shit on people like this. "Now they'll have to do REAL work!"
It matches the way investment in infrastructure works: always build new, defer maintenance in the old. It's all driven by the promise that investors will win big this time if they give the tech company the resources to conquer a market. So the company goes out and does that by shoving aside the old tech to install its own platforms while poaching the bits that are still useful. It's cheap to do that, that's why the churn happens and we have this cycle of increasing complexity. I think there might be a more fundamental shift occurring these days because there is nothing really promising(for an investor who wants a world conquest narrative) happening with AI, crypto, or VR. AI got the closest, but it's mostly driven an acceleration in spam. The money to just take an existing market Uber-style has gone away. Unionization is picking up, and that could push some maturity into the business for once.
I never worked for a corporation that had such generous benefits, though when I worked at Microsoft they had some good benefits. And I agree, these days tech workers aren't seen as an asset that grows the company but as an expense - and expenses are to be minimized. It's been years since I've recommended software development as a great career choice. It's still good, no argument about that. But it's going downhill and the rate at which it's going downhill is increasing.
Exactly what they are doing in England. But we had a Indian prime minister and foreign minister Rishi Sunak and Priti Patel. They allowed too many bloody Indian's in England.
I’ve been to the Netflix offices in Los Angeles a few times in the last year and I’m telling you, I’ve never seen happier employees in my life. It really was striking.
This completely misses the point that a lot of these companies are actually broke and had to restructure because the free money is gone. That's the long and short of it entirely.
@@GutterFlower-t2ujust because there hasn’t been a layoff. Doesn’t mean that there isn’t a shortage. Shortage of doctors, nurses, mechanics, welders. Jobs that A LOT of Americans does not want to do.
Tech companies treat their customers like crap with invasive data collection, predatory pricing (everything is a subscription now) and changing the services all the time. This whole business model screams a lack of stability and consistency.
The tech industry specially hiring is broken. Trying to apply and work for these companies is soul crushing and life draining having to go through dumb leetcode brainteaser type coding through the technical interview and the 4+ rounds of interviews. The whole industry is just screwed up.
I got out of computer science in 2020 as I saw that a lot of the content could be self-taught. I am now one year away from graduating with a bachelor’s in mechanical engineering and don’t regret my decision.
i've 15 years of IT experience covering hardware, network security, and software development. My degree is in Sociology. A computer science degree is completely unnecessary and only helps if you are looking to get into a very specific role. I do advise getting A degree- ANY degree- though, since ticking that checkmark in your paperwork removes a lot of barriers to entry and overall increases your earning potential.
An ME willl be able to make a good living and have a job for the rest of their lives. Mechanical engineering is one of the most versatile degrees one can get. CS has the higher upside tho
Yea. That's a robust career! Congrats dude! It's an investment and I wish you better luck in the future with all the wisdom you've gained in your youth!
I've been in tech since 2001 (server admin and network engineer), biggest company i worked for was microsoft in 2005 and left 6 months later, tech is absolutely amazing as long as you don't work for the big players like google, ms, apple etc. Work for smaller companies and you'll be more valued, make close to the same money, better work/life balance and actually be valued, but nope, everyone thinks they're a superstar and wants to work for only the top 6 companies by value of company.
I have worked with small companies as well and there is even less stability, you have to work a lot more to meet tight deadlines or to make up for other roles that they have no money to hire. So I would go for medium sized companies with no more than 1-2K employees
That's so Ironic isn't it? lol. "CEO: Hey Guys we are Developing AI so it can do almost everything you guys can do so we can FIRE YOU in the future!! Hurray!!" .....I would have been the slowest programmer EVER just so I wouldn't have had to create it.....
The general public are idiots. Sorry, but we did not displace our own jobs with AI. AI sucks when it comes to programming, I've tried using it to "fix" my code but all it does is mislead and get me nowhere. It's biggest feat was impressing people who don't know how things work (VC investors). Tech jobs are disappearing because there's no more cheap debt. It's a decade old bubble propped up by low rates and AI is the new bubble. The rates doubled and now tech companies can't afford to run. That's it.
"Microsoft has announced an ambitious initiative to equip 2 million people in India with skills in artificial intelligence by 2025." I wonder why Microsoft don't do that in America. Oh, Microsoft CEO is from India.
Lol this is such a braindead take. As if the CEO of Msoft can get by shareholders to empower another country just because he's sentimental about his heritage? You're insane dude. He probably left and came to become the CEO of Msoft because he wanted to get out of India. It's cheaper, it's not that deep ffs.
@@robbenvanpersie1562Thats why in those opposing countries there will be suddenly found chemical weapons used against civilians, so there will be need of intervention
Who pays for that? Higher federal taxes? Have California make McDonald's pay 30 an hour and 10 goes to skackers not working? Or have some giant VAT tax that grabs all money spent? Ie you buy 100 buck tools at Home Depot and 20 is in VAT to pay your universal income?
@@3beltwesty don’t you get it money is illusion it worth is what we put on it the world is something like 3x over in debt as money is no kinder tied to anything psychically that was gone with the gold standard
1:02. How are you all. Not shocked? As an employee, you are at their Marcy in employment. Employer: "joe, you did a good job past 20 years with out company. We are downsizing due to USA printed 80% of money in 2022. Your fired." Employees: "bruh you can't fired me! I'm special!"
@@CountingStars333 doubt that is the case now We havent even achieved true AI Its all learning models and algorithms wich companies overhype as AI Nothing new, just something improved upon but not that big of a change for humanity
@@CountingStars333 Absolutely not lol. As tishaak said, real AI doesn't even exist. The "AI" nowadays is absolute trash and cant even replace a decent intern.
@@juniper_jumps6610 were not living under a rock Were just annoyed that companies throw around the word of ai to hype up their products even though we havent even truly achieved it Most things that are "ai" are mainly just algoritms or large learning models These robots you respond to basic visual stimuli to be recognized but do not work as reliably Theyre not intelligent enough to learn the areas needed to traverse on their own or are very reliant to human programming Just as large learning models is basically a glorified algoritm in a way Records most information on how we talk and tries to mimic it The "ai" doesnt genuinely know what its saying hence why models like chatgpt can make mistakes or even say things that make it out of place
How would fixed mortgage costs change since I had to sell my jobs and the house required more maintenance than I had anticipated? Undoubtedly, this year has been worse than the past, and I'm not sure how long I can continue in this manner. Last year, I made some terrible financial decisions that cost me a lot of money.
My own observation is that while some of our tenants with nicer, more costly cars sometimes miss rent payments, those with less expensive cars have been considerably more reliable. Simply our misfortune during the past few years.
While I acknowledge that it might also be an emotional issue, there are still financial considerations to consider. Selling things off and cutting back aren't always the best options. In my case, I'm merely looking for other ways to increase my income while I wait to be in a better position to manage things. Using my financial advisor, i made $400k this year, you can opt to live as though you make $100,000 and pay that off in three years.
optimistic about $MSS We were, in my perspective, experiencing the biggest economic crisis since the Great Depression, the deadliest pandemic of the century, and the worst assault on our democracy.
i remembered when i was in highschool IT industry was top in demand in the country i did take computer programming in high school im glad i didnt join that industry and did a mechanic trade instead best decision in my life
I've been a pro software engineer for over 8 years and I''ll be brutally honest - You'll never make above $150k unless you're working in big tech. Big tech always pays exorbitant salaries. If you want that $350k+ salary as an engineer, then you gotta memorize Leetcode and Hackerrank otherwise, you won't make above $150k in your career which's very depressing. The worst part is, companies that aren't big tech will also Leetcode and Hackerrank you to hell because they want to copy big tech thinking this is the way to hire great engineers. If you want to become a software engineering manager then yes, you can make around $200k+ even in non big tech companies, which's what I'm aiming to do. Being a software engineer sucks because you have product managers, CEOs and project managers who are technically inept and waste your time with pointless meetings. Everyday I regret not getting into real estate instead.
When you consider the average salary of American workers, anything close to six figs is enviable. If you make $150K annually, you're among the highest paid workers in the U.S. - perhaps in the top 20% (or better) of income earners.
@@jefesalsero true. I thought i was doing fairly ok, but then realized that the majority of people i know don't make nearly as much as I do. Only difference is that they have a double income house hold which brings their combined take home close to what i make. For government contracting, i'm getting close to highest salary i could potentially make without shifting job roles to something managerial - currently a tech lead now. BUT, as the OP stated i spoke with folks working in big tech like Facebook and Google and these guys are making nearly double of what i was getting so it starts to put things into perspective. But then again, these are the same folks who are getting let go now while government contracting has been relatively unaffected (at least my place has been fine).
@@jefesalsero Exactly. I really have to question the headspace of someone turning their nose up at $150k a year as "very depressing." I get it- lots of these tech hubs are high cost-of-living areas- but a $150k salary is _well_ enough for anyone in America to never, ever worry about putting food on the table or keeping the lights on. Obviously, a $150k salary won't turn you into Warren Buffett. But when the median US salary is about a third of that, have some freaking perspective.
@@Commander6444 stop looking at pathetic US "median salaries" and start looking at how much money these companies make... We should all be paid more!!
95% of these jobs were bullshit. I remember seeing the video from the ex-Google employee making 200k a year to eat company snacks and join 2 team meetings a day.
Working in tech has never been a dream job... at least not since... the 1980's.... Back then if you knew anything about computers, you were a computer genius and the go to geek for everything computer. Today, pfft, every Gen Z and Millenial out there are doing the shlt you pioneered.
If those companies stuck to the old model of hiring, they wouldn't have to mass fire. It used to be that Temps/Contractors were hired for projects or when there was a sudden increase in business. If that increased work was sustainable long-term, only then would a permanent role be created. Now, every time a company has an idea or a big project, they immediately hire hundreds of people. Then, when the project ends or priorities shift, they mass fire, then rinse and repeat. All so they can hoard talent.
I work tech and never been laid off. I am a EE engineer working on software but hardware knowledge is required. Many laid off are HR, product managers, project manager, etc. or easily replaceable software engineers.
I started studying software engineer this year at university but I was indeed not sure if I should do my bachelor in mechanical engineering instead. I could still change my degree next year, what would you recommend? Software engineering or mechanical engineerung?
@@JO-xb7jk mechanical is very limited in jobs. I would double major. CS is easy. I was undergrad math honors and physics and masters EE and phd statistics. CS is watered down math courses.
Tech is way over saturated. In a winner takes all economy we don’t need to maintain more than 5-10% of all the tech out there. Supply of tech workers is WAY too high for the demand. Long term there is likely only a need for 5-10%. Back to the farm… ❤
Yet there were 400,000+ requests for (lottery) H-1b visas last year. Historically, 75% of the H-1b jobs are in IT. That means at a time when there were 350,000 layoffs and 100,000 new grads, companies instead ignored the local market and hired from overseas (75% of that is from one country). We know from DOJ vs Facebook 2020, managers engage in massive discrimination against better qualified local engineers, to the detriment of their company. 2600+ cases of this occured at Facebook over the 1.5 years of the investigation. This issue matters as having makers, in a variety of areas, leads to a lot of job creation.
@@realkyunu Unfortunately, you are wrong, at least in the U.S. Whole departments are getting let go (that's what my company did). And they don't assess you, they just fire the department. As far interviews go, most companies are doing sham interview, to comply with company policy. The actual candidate is already known, your there to justify the hire. I have decades of experience in my field. There are things I can do, no one can (for example synchronize Post Man scripts, for stress testing, without converting them to another tool, for example JMeter, which I am also expert at). I was hired by someone who was shocked I had not found a job (after a year of searching). But it is only a contract job, and if we don't get more funding, it is going to go away. In tech, no one really has time to understand your exceptional capabilities. They probably wouldn't understand it anyway. They go by other factors: - How many people do we really need (right now that's few to none, more likely we need to fire more people) - If you are hiring, you are in a hurry, and so you are going to go by how well you know this person. - In many cases, hiring is a favor, to be repaid at a later date, because in big corporations, they don't audit hiring, they audit results. Sometimes they audit just costs and department returns, or costs vs contracting your department out. You have no control over this, it just is.
USA problem only, the rest of the world has always been paid shit for software so we don't really feel concerned to be honest. USA needs to realign itself with the global market rate.
This is true. UK tech salaries for example are nothing compared to US. So most people have had job stability in tech over here. Plus we have laws protecting employees from mass layoffs.
Im so happy that I didn’t become a software engineer. I ended up choosing Cybersecurity and I am still employed from 2022 til now making good money. I am also happy that I didn’t work for any big tech companies. Whats the use of being “high status” among your friends and earning 200k per year if you end up getting laid off in less 6 months. I rather be working in a not-so-popular company making 100k that has stability and security.
When the economy collapsed, the tech companies couldn’t hide waste using cheep money anymore so the jettisoned the employees that didn’t add significant value to the company. The employees that actually drove the bottom line were kept, the rest were let go.
I mean.. If you were able to work at a big tech company and get layoff, you'll get a severance package for 5-6 months and it's enough to find a new job. Maybe not in big tech but still a job with a confortable salary
I hear you. I got similar sentiment however in my country working a job gives you some social security plus you are concerned about business as much as corpo want you to. For me its similar case as movie 'Office Space'
I agree that the fang companies were the catalyst for the major IT labour market disruption. And I like the message that IT is not gone for good but it will take time to evolve. IT has gone through multiple disruptions. This time won’t be any different.
Maybe EM can confirm or refute this, but despite such bewilderingy high jobs numbers, the market remains strongly in favor of companies instead of applicants. There's something else going on and it's partly the way the jobs are being counted, as well as the incentives companies have (marketing gimmicks, tax deductions) to remain in a forever "hiring" status. In the entertainment sector where I work, job postings have become absurdly overloaded with skill demands while pay ranges have plummeted, and it's much the same pattern in other fields. My strong suspicion is that AI as implemented, perhaps baked in, is a tool to grossly overburden candidates while suppressing wages across the spectrum. There is an added danger that AI (and ATS software) could be used to discriminate against candidates for any reason, automatically, and never need to explain why. So ultimately there's another facet to the "instability of tech" abstract, which includes a collective lack of trust in its modern purpose & implementation. Tech isn't just firing us, it's also making finding a new job much harder. So why would anyone want to invest in it?
Not to forget that many jobs in tech are being outsourced to BPO companies in Asian and Eastern European Counties where the laws and salaries are much more favorable for them
Spot on. Here in Budapest, Hungary there are tons of American IT/tech companies, occupying thee modern, new-built offices. If you guys in the US wonder what's going on, here is your answer. We are dirt cheap, because our currency (Forint) is rubbish, too. So your companies don't have to pay high (according to US standards) salaries to do the same job. This is ladies and gents, 100% distilled *Globalism* , in it's purest form. Yet people still celebrate it.
They didn't even talk about the rampant age discrimination in the tech industry. Unless you work for the government or a government contractor it is likely that you will struggle to stay employed in tech after 40 or 50.
I'm seeing more and more people with no technical experience come into the industry, who definitely shouldn't be there. A lot of people got a higher up job because they knew someone or could sell things, which doesn't translate well like in other industries. So I think a lot of these layoffs are due to people who don't understand technical things in charge of technical things, making dumb decisions, causing us workers to be fired.
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Fun fact
In US- google is firing
In INDIA - THEY R HIRING , now they r building the 2nd largest google office in the world in india
😢
Same for microsoft
"Pandora" shows Pandora the jewelry maker and not Pandora the tech company lol
😂 oops
bro ikr 😅
Welcome to AI 😂
Ai editing…. shame
Hallucination? 😂
Software engineer since 2006 in big tech. Tech is cyclical. The highs can be very high, and the lows can be very low. If you want to be in this field, you should always be ready for the rug to be pulled out from under you. Your income is NOT guaranteed, and you should use the good times to stash away for the bad.
We went bonkers during the pandemic, and things are correcting to something more normal. It's really not surprising or new.
But the pandemic has been over for awhile, i dont think that logic applies anymore. Companies just want to keep relying on AI and cheap labor to maximize their profits
@@kolyxix I guess maybe I should've elaborated a bit more, for people outside tech. During the pandemic, tech became a lot more important because people were stuck inside, and tech companies went on a FOMO hiring spree, desperately trying to grab engineers before other companies did. The hiring bar was lowered, and compensation went through the roof.
Now that the pandemic is over, companies are sitting on this overly-large pool of engineers with out-of-whack compensation packages, and they've been reverting back to something more inline with "normal", trimming the excessive amount of engineers, particularly low-value ones (lower quality with high compensation)
Was cyclic, not with AI nobody is safe, uwu
There were 400,000 requests for H-1b visas this year, yet U.S. tech unemployment is highest it has ever been, there were 350,000 tech people laid off and every linked in tech job get 100+ applicants.
There is no cycle going on, there is just massive discrimination against better qualified local engineers.
Go read DOJ vs Facebook 2020 (or Apple 2023). 2600+ cases of discrimination against better qualfied local engineers. Managers from a certain country, hire only from that country, and they protect their own from that country from having to compete with better qualified local engineers.
Simple as that.
If you want to open your eyes wide, just go read that indictment it is on the USDOJ.
Studying to be a security analyst, is it worse in that industry too?
What will we do without all those "day in a life" videos???
LMFAOOOOOOOOOOOOOOOOOO
Hang out by the pool with our laptops, duh! /s
It was those 23 year old recruiters who happened to be attractive girls; who got thrown out on their ass once the companies realized they provided no value.
Day in a life AI bot
💀
The real dream job is either investor, landlord or trust fund baby.
Or influencer, TH-cam creator, or OnlyFans
@@jeffc3455 even TH-cam creator isn't all roses and sunshine, worked with one that pumped out 1500 videos in 3 years. Your work ethic has got to be good :)
I am a very significant investor in the lottery.
@@abellyold4859 lol, you guys are not ambitious enough. Best job is to be the son of a supreme dictator like Kim of North korea.
being a landlord is not all it's cracked up to be, trust me, I am one.
Apple and Nvidia didn't do any mass layoffs, because they didn't get on the hype train during the pandemic. Its the fault of these companies they over hired.
Didn't Apple layoff about 600-700 people this year ?
@@maxnew453 talking about mass layoffs, google laid off 12,000 people last year.
@@maxnew453 600-700 is NOTHING in the scale of Apple's size
I don't give a good goddamn whose fault it is. I've been looking for almost six months since I got laid off and I still haven't found anything.
They were hiring to prevent other companies getting staff, which is crazy
why should I dream of a job?
Very true, dreaming of a job is literally slavery
working means paying taxes for those who dont pay taxes
Far too many people have this asinine idea that your should live solely to work and your entire life should revolve around work. That work amounts to making others richer and handing you a few scraps to keep you going.
Good point.
Because you've got to get money for a living anyway, and for 90% people it's their salary. And the people dream of better working conditions that tech companies tend to provide, not to mention incomparably better wages than anywhere else, there's nothing new here.
there is no more a "dream" in general, not only for the "dream job", and not only in Tech anyway....
hmm can you elaborate? like you mean every trade is hard in this day and age?
@@swapnilchand338I think he's saying that there isn't much to look forward to in recent times. The outlook is bleak.
daydream
@@swapnilchand338all jobs suck. Don’t matter if you’re a teacher, an office keyboard warrior, a chef or a construction worker. At the end of the day everyone finishes their shift tired, hungry and wondering if you made the correct life choices
@@swapnilchand338 at this point the only jobs at will actually pay you enough at rhe end of the day are medicne and law. Out of all my friends, only the one who went to medical school can actually afford a middle class lifestyle.
Yeah so they’re outsourcing this stuff to people in India.
An 90k engineer in USA would be less then 20k USD in India
So what's bad in that in Europe does that for cheap labour from China, it s how corporate works and after india there will be African who will take all jobs
It's the same situation here in India... layoffs left and right, hardly any fresher roles
@@shubhrajit2117 true bro, been seeing that even experienced are not safe 😅, normalize loosing jobs
So there’s no job security anymore. Just temporary work
Getting my elevator inspection certification lol
A 500k Software Engineer in SF, becomes a 350k Software Engineer in Austin, becomes a 250k Software Engineer in London, until it eventually becomes a 100k Software Engineer in Mumbai.
And the hell they put you through just to get the job. They tried to put me through a 3-hour interview process at 'Electronic Arts,' complete with coding challenges, meetings, a lunch break, and all kinds of crazy stuff. And that was after three rounds of phone interviews with various people at the company. And that was just one of the places I applied to-other companies made you do equally crazy things. If you dare to apply to more than one place, you'll be solving coding challenges on whiteboards, completing take-home assignments, and interviewing with 3-5 people at each company. And there's still no guarantee you'll get the job.
Sounds like a corporate hazing initiation ritual and inhuman to a degree. Are you employed in tech currently?
My personal record since 2017 is SnowFlake - 8th stages.
I’ve denied straight away.
Why would anyone apply to EA?
How should the interview process be done for a position like that?
@@UnderscoreNorth It should be an open technical discussion to understand your ways of thinking. Additionally, the person interviewed should contain slight pressure - as he/she WILL interact with less technical (and sometimes rude) management. IMHO 90 minutes is more than enough.
All of my "good" interviews were like this, not coding some absurd crap that can be searched on the web / asked to GPT.
Burned out after 12yrs. Left just before the pandemic and never looked back.
What are you doing now?
@@pawe3691 spawam…pewne rzeczy o ktorych nie moge mowic, bo rzad patrzy 👀
@@Mistabushi mf had a stroke typing this
@@Mistabushi You from Mitsubishi, Japan?
@@Mistabushi
i loved your VCRs!
mine still works nearly 30 years on.
Its just corporate greed. Dont "dream" of jobs. No one should be dreaming about labour.
💯
This is only if you don’t have anything meaningful to contribute. Work can be awesome
@@Medevenx2KI retired early and chill.
@@Medevenx2Kwork under capitalism is *mostly* making someone else rich.
Aint nobody dreaming of labour. You are making this up.
As an unemployed software engineer with over three years of experiences,
i am now reevaluating my career choices.
If a publicly traded company opts to outsource overseas to reduce expenses, it should begin by outsourcing the CEO position. By saving millions in this manner, the company can maintain the employment of numerous American workers. These employees, in turn, will contribute to the local economy in various ways.
@Russo2024Zir good point. Let's say you need to hire someone to run your billion dollar company. All of your money is tie up into this company. If company stock value drops, it means you PERSONALLY lose money. With that in mind, would you rather pay a pretty penny to hire the best CEO or would you rather go cheap and hire an overseas worker to run your bussiness? Which one do you choose?
Now imagine it is not CEO but low wage workers at your company. They are a dime in a dozen, little need for bussiness skills, decision makings, ect. In fact, you only want them to do back breaking manual labor and it just happens that people in third world country are very good at intensive manual labor compare to the westerners like say an American who will complain if you work them more than 40 hours a week. Do you want to go cheap and outsource or do you want western workers?
It really is about skills. The more skills you have, the less likely you can be outsource. I have seen Indian and Chinese immigrants making insane amount of money in American big tech companies. Why wouldn't they just hire them in India? Or in china? Probably because these people dont want to be there. Companies are willing to still choose them over the same Indians or chinese in India or china even if they work for far less? Why? Those who are skilled enough to be hire in America is the best of the best that India or China can produce. They are simply on a whole new skill level. Americans workers are similar. If you have the real skills, you will get hire and not worry about outsource. If your skills can easily be reproduce by people who can do them in India or in china by people who aren't skilled enough to qualify for a skilled based immigration visa, oh boy. You better skill up because these jobs won't be staying in America.
this is what i tell people when they complained about companies going cheap by outsourcing or hiring immigrants.
me: if companies are being cheap by outsourcing or hiring immigrants, why do i see these white collar immigrants making so much money here in America?
them: because they are in America! working under American laws!
me: so why don't these companies hire these people in their own country then? where they wont be under American laws and can be exploited?
them: ....... because of diversity hires and all the woke bullshit
me: facepalm*
people in this country have a skill issue. I interview in a tech company and i did not get the position. A Chinese machine learning engineer got the job. he is now making 200k at that company i interviewed in. i realize this. i don't have the skills and got outcompete by someone who does. deep down i know there is no scapegoat to blame, it is simply a skill mismatch. i choose to accept this. not many do however. instead of looking at their own shortcomings, they blame it on every outside forces imaginable and on the greed of the companies.
@@IamAWESOME3980 How did you figure out let's just say a person from India or China is hired as CEO would be less skilled?
@Russo2024Zir not less skilled but less paid. Why would you ever believe companies can pay them any less by outsourcing? Works for lower rung employees, CEO? Plenty of americans would do the job of CEO for even less. Whether they are qualified or not is a different story.
@@Russo2024ZirThey had, or else why do almost all CEO at the silicon valley are Indians since 2016?
0:14 lol literally cuts to a shot of the Pandora jewelry store, completely different than the pandora application.
Those benefits always came with the catch that you have no work-life balance.
My country might value work-life balance less by saying things like "but immigrants from low-income countries aren't so demanding"
The reality is no job is considered "stable" even government jobs can be in turmoil if there is no buget put in place, this is called a furlough.
I think the Medical field provides high playing and stable jobs, despite the long hours, stress and high responsabilities. It's the most stable field IMHO.
@@cev9790it is especially in the states. People are always going to be obese and sick
@@cev9790 Those in medical field just quit the job themselves. Then get a new job when feeling better.
Associating getting a job with realizing a dream is massively dystopian
I've worked at 3 FAANG companies and it took me over 8 months to find a new job. The market is absolutely brutal. 😢
If anyone who is looking for a new job reads this, I wish you the best of luck, I wouldn’t wish job hunting on my worst enemy.
Took me six months to find work in SCM
I thought FAANG alumni could get the job easier. Any tips for finding new opportunity in this brutal job market?
What websites did you use to find ur current job?
Yup I have experience at Meta, Google and even bank of America as a project manager abd a year and a half I'm still looking to get back in my field. Currently working as an admin role since they were hiring. Getting paid way less. This market is a joke.
Working in the tech industry has always been scary. Look at the amount of outsourcing of jobs to India, China, Taiwan and Eastern European countries. Every group I worked with for the last 30 years eventually move all or most of their operation overseas. I'm more worry about that than (the over HYPE) AI.
Bro I am in india its not safe here too people are doing what ever they can to keep their jobs shit's depressing
AI = Actually, Indians
@@AdityaAshutosh-o7h and not to mention our population 😕 makes it worst
You won't want to work in tech in India. I don't work there, but I see them. 12-14 hours a day. Fuck that shit. Even if you give me lot of money, I won't work there.
If you can do your job remotely, someone else can do your job more remotely for less.
These people are not really smart enough to think about that.
"AI"? You mean "Actually Indians"?
I feel like I should clarify something, just in case:
It's not really about the Indians, they could be any nationality. I didn't call them out specifically because I'm racist, but because that's silicon valley's favorite nationality when it comes to H1B visa abuse and cheaping out on hiring people.
Bro 😂😂😂😂😂
😂😂😂
Yes, american Indian tribes do all your ai
Fun fact
In US- google is firing
In INDIA - THEY R HIRING , now they r building the 2nd largest google office in the world in india
😢
Artificial Indian
If you're wondering why they're losing their jobs, it's because companies are hiring Indian IT professionals who are willing to work for lower wages, allowing these companies to cut costs.
Bingo. It will only keep getting worse since every year more and more third world workers learn tech skills
But they also fired indian devs, who later on created their own TH-cam channels.
Not lower wages. The Indian currency "rupee" is weak compared to the USD. 1 USD = 83.72 rupees.
that's not new though. i've been hearing of that sort of thing since the early 2000s. this is something else
This is happening at my current workplace, they're hiring all of the new staff over in India and our colleagues see a big shift coming, with little to no local talent in these sectors and the jobs going to India, permanently.
Tech layoffs have previously been cyclical, but this time it feels different.
said everyone at the bottom of a cycle ...
@@larrym2434said as if the overwhelming majority of the tech work force aren’t junior employees.
In my country, most job openings I've seen also ask you to declare if you've ever been terminated before (in addition to whether you have a criminal record). So if you were previously retrenched I was worried if you might forever be assumed to be a second-rate worker & thus forever have depressed wages/promotion, probably what is called _hentah kaki_ in Malay ("forever marching in the same spot" in a military parade, instead of advancing closer to a destination)
Tech has always been cyclical. The people who had a surprised Pikachu face when they got laid off obviously had never been through a cycle before.
Imagine a job where you create the very AI tech that's supposed to replace you and leave you homeless.
Nobody questioned when companies were hiring like crazy during the pandemic. Now everyone has a Pikachu face when they said they never needed those employees.
What is a Pikachu?
@@manco828 It's a Pokemon
what are you? 😮@@manco828
Saving a good emergency fund is key in this cyclical burnout journey of a career
I just feel bad for all the people that went to college for four years for no reason
Yup. Everyone jumped o the IT bandwagon in 2020 and no surprise IT wages dropped drastically
they will find another job.
@@OVOXO1234561 They'll drive Ubers for people who know how to use tools to fix things.
it will help them make lattes' at starbucks
It’s horrendous
working in tech is like trying to set fire to ashes
Wanna get a 200K job? Go study leetcode 8h per day, learn 4 programming languages, 10 frameworks, code and get certifications in your free time, masters degrees preferred and also deal with 5h of mandatory meetings every working day lol
Then 6 months later when theyre all out of date / not trendy -> lose more weekends doin it all again ! 😂
I'm currently studying 8h per day. My salary expectation is like 9K per year for an entry-level job in my country lol.
@@chavamartinez3102yes but it matches with your cost of living over there
Actually it is not hard at all a lot of people can and do it so it becomes cheaper, it is not a medical degree for 10+ years…
@@m1kefx yeah, plus with ChatGPT the demand for new engineers fell to 1/4 of what it was before in my multinational Fintech company, the salaries stagnated too.
Not only mass lay offs but my company started outsourcing engineers from different countries lmao. I had to train them and … I lost the my joy in this field.
My colleague also got a bit bothered that the programmer she has to work with is now based in India, as it's 2.5h behind us in time difference, so if she needs to look for that programmer for help she can't do so too early in the morning as he wouldn't have woken up yet
it is crazy how connected is tech to interest rates
Cheap money = Easy spending
Is as simple as that.
not that you are not educated enough. not saying that.
i am saying, once you realize you a spec of dust on earth, you realize nothing matters.
well when rates are low, investors don't want to hold onto cash so they invest into VC funds and such, which in turn funds a lot of tech companies. When interest rates go up, investors either save cash or take on less risk - and unfortunately most tech is too high risk for most investors.
It isn’t crazy, the tech industry got addicted to 0% interest rate money like a lot of other industries did. Bad policy creates bad outcomes.
@@GigaChad_169 It was a 15 year sugar high, and no one complained while it was going on ...
Netflix has always been like that, they only hire people as contract labour and people working there would always try to find other jobs while working
The tech industry is a LOT bigger than just software development. The enitre field of IT makes up the several different domains from Cloud computing, Cyber Security, sysadmin and networking. There will always be plenty of jobs out There because you aren't tied to a specific industry in IT. You can work in I.T for any company, big or small no matter of the industry. You don't have to work for tech companies. You can work for a bank, school, manufacturer, medical...
Learn to code. More like learn to Plumb.
plenty of jobs in network equipment installation. These jobs cannot be done by AI and involve lots of travel to all areas of the country.
@@andrewmunczenski3632 Well technically almost no job in I.T can be replaced because A.I wasn't meant to replace but to assist. A.I can't make decisions on its own plus it lacks creativity. You still need human interaction. Very much like DevOps was meant to streamline processes not take jobs away. You learn to adapt to industry changes and skill sets.
@@andrewmunczenski3632 The only way some one could get replaced if they aren't using some form of automation in their day to day work flow. It's all about keeping your skill sets up to date and not be a dinosaur. People that don't use A.I or DevOps tools would get replaced. A.I can't replace people on its own which is a common misconception. Its your acutal skills!
The common misconception with A.I, is people will think it will place jobs on its own. That's far from he truth. If you failed to keep your skill sets up to date, you will get replaced. Don't be a dinosaur. People that use AI tools will have a much better future than ones that don't.
The bottom line of this video is it is important to have an emergency savings/ investment fund set aside for anything that can go wrong because it is inevitable to have downturns in the market
Its weird. Ive always been into computers. Ever since Wolf3d came out and my uncle taught me the command to run it. There is a lot knowledge that has to be learned about different software programs, coding, how certain applications work on the OSI and TCP/IP model etc etc. But companies dgaf unless its bringing big profits in. Whats even more strange to me is a lot of construction and trade workers shit on people like this. "Now they'll have to do REAL work!"
It matches the way investment in infrastructure works: always build new, defer maintenance in the old. It's all driven by the promise that investors will win big this time if they give the tech company the resources to conquer a market. So the company goes out and does that by shoving aside the old tech to install its own platforms while poaching the bits that are still useful. It's cheap to do that, that's why the churn happens and we have this cycle of increasing complexity.
I think there might be a more fundamental shift occurring these days because there is nothing really promising(for an investor who wants a world conquest narrative) happening with AI, crypto, or VR. AI got the closest, but it's mostly driven an acceleration in spam. The money to just take an existing market Uber-style has gone away. Unionization is picking up, and that could push some maturity into the business for once.
Here tech ex worker. I am working in a retrail since ive lost my job :(
I never worked for a corporation that had such generous benefits, though when I worked at Microsoft they had some good benefits. And I agree, these days tech workers aren't seen as an asset that grows the company but as an expense - and expenses are to be minimized. It's been years since I've recommended software development as a great career choice. It's still good, no argument about that. But it's going downhill and the rate at which it's going downhill is increasing.
You obviously haven't seen other jobs. I save a lot from my tech salary and i have more financial stability than most people i know.
This whole article sounded as if it was written by chatgpt.
Ikr, this artucle seems just made to bait poeple to moan and grown about the conomy while they rake in the view and provide no solutions.
Went to college for 4 years for CS got out they outsourced the lucrative jobs to India or imported the cheap labor from India to the USA.
Exactly what they are doing in England. But we had a Indian prime minister and foreign minister Rishi Sunak and Priti Patel. They allowed too many bloody Indian's in England.
I’ve been to the Netflix offices in Los Angeles a few times in the last year and I’m telling you, I’ve never seen happier employees in my life. It really was striking.
This completely misses the point that a lot of these companies are actually broke and had to restructure because the free money is gone. That's the long and short of it entirely.
People who want to work in tech for the benefits ruined it. Y’all just wanted clout didn’t care about the technology.
If your refer to your dream job as a job 6 figure income with nil to minimal effort, knowledge and brain activity, then no, there is no dream job.
As a person who was part of the tech layoffs. I am also applying for Government jobs because I feel it is more stable than the private industry.
Its no better or worse than any other industry. No industry is safe
Are there layoffs in medicine?
From lack of funding from a hospital? Yes. They can close sections and lay off the staff of the said part.@@GutterFlower-t2u
@@GutterFlower-t2u 😀💯
@@GutterFlower-t2ujust because there hasn’t been a layoff. Doesn’t mean that there isn’t a shortage. Shortage of doctors, nurses, mechanics, welders. Jobs that A LOT of Americans does not want to do.
@@GutterFlower-t2uthey are at the big pharma
Try and avoid big corporations as much as possible
Tech companies treat their customers like crap with invasive data collection, predatory pricing (everything is a subscription now) and changing the services all the time. This whole business model screams a lack of stability and consistency.
And too many techies are narcissistic aholes. No sympathy, here.
The tech industry specially hiring is broken. Trying to apply and work for these companies is soul crushing and life draining having to go through dumb leetcode brainteaser type coding through the technical interview and the 4+ rounds of interviews. The whole industry is just screwed up.
“but you don’t need a college degree” they said
I got out of computer science in 2020 as I saw that a lot of the content could be self-taught. I am now one year away from graduating with a bachelor’s in mechanical engineering and don’t regret my decision.
Been in tech for years have yet to mean anyone without a CS or similar degree
i've 15 years of IT experience covering hardware, network security, and software development. My degree is in Sociology. A computer science degree is completely unnecessary and only helps if you are looking to get into a very specific role. I do advise getting A degree- ANY degree- though, since ticking that checkmark in your paperwork removes a lot of barriers to entry and overall increases your earning potential.
If you're happy fine, but if you can hack it comp sci pays better.
An ME willl be able to make a good living and have a job for the rest of their lives. Mechanical engineering is one of the most versatile degrees one can get. CS has the higher upside tho
Yea. That's a robust career! Congrats dude! It's an investment and I wish you better luck in the future with all the wisdom you've gained in your youth!
The party is over. I feel sorry for all the people that study Computer Science now.
Like it or not, tech companies love to hire college interns and new grads.
What about the bufus that trying to go for manufacturing
@@GAURAV25855ify I have no experience with manufacturing so i can't tell.
@@kenchu5900 the new grads will tell you that everybody wants experience
Go into cyber security
When you raise the pay but also ask people to stay in places that are uber expensive, does high pay actually matter?
This is crazy! I have friends who moved across the country for these jobs, and now they're facing layoffs.
I've been in tech since 2001 (server admin and network engineer), biggest company i worked for was microsoft in 2005 and left 6 months later, tech is absolutely amazing as long as you don't work for the big players like google, ms, apple etc. Work for smaller companies and you'll be more valued, make close to the same money, better work/life balance and actually be valued, but nope, everyone thinks they're a superstar and wants to work for only the top 6 companies by value of company.
I have worked with small companies as well and there is even less stability, you have to work a lot more to meet tight deadlines or to make up for other roles that they have no money to hire. So I would go for medium sized companies with no more than 1-2K employees
It’s a NIGHTMARE finding a job in the tech industry
True
True
Tech workers created AI. AI displaces tech workers. Terminator has arrived.
terminators termiate AI.
That's so Ironic isn't it? lol. "CEO: Hey Guys we are Developing AI so it can do almost everything you guys can do so we can FIRE YOU in the future!! Hurray!!" .....I would have been the slowest programmer EVER just so I wouldn't have had to create it.....
The general public are idiots. Sorry, but we did not displace our own jobs with AI. AI sucks when it comes to programming, I've tried using it to "fix" my code but all it does is mislead and get me nowhere. It's biggest feat was impressing people who don't know how things work (VC investors). Tech jobs are disappearing because there's no more cheap debt. It's a decade old bubble propped up by low rates and AI is the new bubble. The rates doubled and now tech companies can't afford to run. That's it.
Musical chairs 💺 baby
"Microsoft has announced an ambitious initiative to equip 2 million people in India with skills in artificial intelligence by 2025." I wonder why Microsoft don't do that in America. Oh, Microsoft CEO is from India.
As if a CEO can decide that as he wants. It's cheaper to use India just like how it was cheaper to use China.
You got it 👍👍👍
1 out of 8 people live in India...
AWS has class for eveyone
Lol this is such a braindead take. As if the CEO of Msoft can get by shareholders to empower another country just because he's sentimental about his heritage? You're insane dude. He probably left and came to become the CEO of Msoft because he wanted to get out of India. It's cheaper, it's not that deep ffs.
They layoff because of higher salary, after that the company will hire the same post with lower salary or offshore their role to lower pay countries .
The end of an era, and getting closer to the Universal Basic income to avoid riots.
Can't be implemented in all countries tho
Won’t happen they will just kill people in different ways the four horsemen of the apocalypse
@@robbenvanpersie1562Thats why in those opposing countries there will be suddenly found chemical weapons used against civilians, so there will be need of intervention
Who pays for that?
Higher federal taxes?
Have California make McDonald's pay 30 an hour and 10 goes to skackers not working?
Or have some giant VAT tax that grabs all money spent?
Ie you buy 100 buck tools at Home Depot and 20 is in VAT to pay your universal income?
@@3beltwesty don’t you get it money is illusion it worth is what we put on it the world is something like 3x over in debt as money is no kinder tied to anything psychically that was gone with the gold standard
If you work in tech: you swing big you miss big
1:02. How are you all. Not shocked? As an employee, you are at their Marcy in employment.
Employer: "joe, you did a good job past 20 years with out company. We are downsizing due to USA printed 80% of money in 2022. Your fired."
Employees: "bruh you can't fired me! I'm special!"
AI is a hype, okay. It won't get rid of jobs yet, even Devin is a total shit show. These companies just don't want new junior employees.
Won’t get rid of jobs but has been the last year & a half globally 💀
AI is as revolutionary as the industrial revolution.
@@CountingStars333 doubt that is the case now
We havent even achieved true AI
Its all learning models and algorithms wich companies overhype as AI
Nothing new, just something improved upon but not that big of a change for humanity
@@CountingStars333 Absolutely not lol. As tishaak said, real AI doesn't even exist. The "AI" nowadays is absolute trash and cant even replace a decent intern.
@@juniper_jumps6610 were not living under a rock
Were just annoyed that companies throw around the word of ai to hype up their products even though we havent even truly achieved it
Most things that are "ai" are mainly just algoritms or large learning models
These robots you respond to basic visual stimuli to be recognized but do not work as reliably
Theyre not intelligent enough to learn the areas needed to traverse on their own or are very reliant to human programming
Just as large learning models is basically a glorified algoritm in a way
Records most information on how we talk and tries to mimic it
The "ai" doesnt genuinely know what its saying hence why models like chatgpt can make mistakes or even say things that make it out of place
How would fixed mortgage costs change since I had to sell my jobs and the house required more maintenance than I had anticipated? Undoubtedly, this year has been worse than the past, and I'm not sure how long I can continue in this manner. Last year, I made some terrible financial decisions that cost me a lot of money.
My own observation is that while some of our tenants with nicer, more costly cars sometimes miss rent payments, those with less expensive cars have been considerably more reliable. Simply our misfortune during the past few years.
While I acknowledge that it might also be an emotional issue, there are still financial considerations to consider. Selling things off and cutting back aren't always the best options. In my case, I'm merely looking for other ways to increase my income while I wait to be in a better position to manage things. Using my financial advisor, i made $400k this year, you can opt to live as though you make $100,000 and pay that off in three years.
You make a wonderful point-being overly pricey could be just as much of a red signal as being dirty.
I think there are financial potential for regular fans. Could you provide an analysis of your market analysis?
optimistic about $MSS We were, in my perspective, experiencing the biggest economic crisis since the Great Depression, the deadliest pandemic of the century, and the worst assault on our democracy.
i remembered when i was in highschool IT industry was top in demand in the country i did take computer programming in high school im glad i didnt join that industry and did a mechanic trade instead best decision in my life
It’s still the best industry hands down - work life balance + great pay.
I've been hired in tech since 2012 and I always struggled, it's just not a good career path.
Well probably cause you suck tbh
what do u work at? why is tech no longer a good career path?
I've been a pro software engineer for over 8 years and I''ll be brutally honest - You'll never make above $150k unless you're working in big tech. Big tech always pays exorbitant salaries. If you want that $350k+ salary as an engineer, then you gotta memorize Leetcode and Hackerrank otherwise, you won't make above $150k in your career which's very depressing. The worst part is, companies that aren't big tech will also Leetcode and Hackerrank you to hell because they want to copy big tech thinking this is the way to hire great engineers.
If you want to become a software engineering manager then yes, you can make around $200k+ even in non big tech companies, which's what I'm aiming to do. Being a software engineer sucks because you have product managers, CEOs and project managers who are technically inept and waste your time with pointless meetings. Everyday I regret not getting into real estate instead.
When you consider the average salary of American workers, anything close to six figs is enviable. If you make $150K annually, you're among the highest paid workers in the U.S. - perhaps in the top 20% (or better) of income earners.
@@jefesalsero true. I thought i was doing fairly ok, but then realized that the majority of people i know don't make nearly as much as I do. Only difference is that they have a double income house hold which brings their combined take home close to what i make. For government contracting, i'm getting close to highest salary i could potentially make without shifting job roles to something managerial - currently a tech lead now. BUT, as the OP stated i spoke with folks working in big tech like Facebook and Google and these guys are making nearly double of what i was getting so it starts to put things into perspective. But then again, these are the same folks who are getting let go now while government contracting has been relatively unaffected (at least my place has been fine).
yup, and smaller companies outside of tech cities pay even less
@@jefesalsero Exactly. I really have to question the headspace of someone turning their nose up at $150k a year as "very depressing." I get it- lots of these tech hubs are high cost-of-living areas- but a $150k salary is _well_ enough for anyone in America to never, ever worry about putting food on the table or keeping the lights on.
Obviously, a $150k salary won't turn you into Warren Buffett. But when the median US salary is about a third of that, have some freaking perspective.
@@Commander6444 stop looking at pathetic US "median salaries" and start looking at how much money these companies make... We should all be paid more!!
95% of these jobs were bullshit. I remember seeing the video from the ex-Google employee making 200k a year to eat company snacks and join 2 team meetings a day.
Working in tech has never been a dream job... at least not since... the 1980's....
Back then if you knew anything about computers, you were a computer genius and the go to geek for everything computer.
Today, pfft, every Gen Z and Millenial out there are doing the shlt you pioneered.
If those companies stuck to the old model of hiring, they wouldn't have to mass fire. It used to be that Temps/Contractors were hired for projects or when there was a sudden increase in business. If that increased work was sustainable long-term, only then would a permanent role be created. Now, every time a company has an idea or a big project, they immediately hire hundreds of people. Then, when the project ends or priorities shift, they mass fire, then rinse and repeat. All so they can hoard talent.
I work tech and never been laid off. I am a EE engineer working on software but hardware knowledge is required. Many laid off are HR, product managers, project manager, etc. or easily replaceable software engineers.
I started studying software engineer this year at university but I was indeed not sure if I should do my bachelor in mechanical engineering instead. I could still change my degree next year, what would you recommend? Software engineering or mechanical engineerung?
@@JO-xb7jk mechanical is very limited in jobs. I would double major. CS is easy. I was undergrad math honors and physics and masters EE and phd statistics. CS is watered down math courses.
True
Why do you dream of working?
The dream job is being a politician
Or working for AI BLOCKCAIN TECHNOLOGY NVIDIA cybersecurity digital media crypto currency
ai is more likely going to replace those newsreaders jobs than software engineers
Hehe, I'm glad I started at the worst, so everything else is better. 😂😂😂
A lot of this ends up with rehires … they fire and rehire almost immediately
That’s it, I’m going overseas. Plus many companies’ entry level positions in the US requiere 10+ years of experience.
Tech is way over saturated. In a winner takes all economy we don’t need to maintain more than 5-10% of all the tech out there. Supply of tech workers is WAY too high for the demand. Long term there is likely only a need for 5-10%.
Back to the farm… ❤
Yet there were 400,000+ requests for (lottery) H-1b visas last year. Historically, 75% of the H-1b jobs are in IT. That means at a time when there were 350,000 layoffs and 100,000 new grads, companies instead ignored the local market and hired from overseas (75% of that is from one country). We know from DOJ vs Facebook 2020, managers engage in massive discrimination against better qualified local engineers, to the detriment of their company. 2600+ cases of this occured at Facebook over the 1.5 years of the investigation. This issue matters as having makers, in a variety of areas, leads to a lot of job creation.
There is only an over saturation of extremely bad "get-rich-quick-scheme" tech workers. Talented tech workers are still sought after.
@@realkyunu Unfortunately, you are wrong, at least in the U.S. Whole departments are getting let go (that's what my company did). And they don't assess you, they just fire the department. As far interviews go, most companies are doing sham interview, to comply with company policy. The actual candidate is already known, your there to justify the hire.
I have decades of experience in my field. There are things I can do, no one can (for example synchronize Post Man scripts, for stress testing, without converting them to another tool, for example JMeter, which I am also expert at).
I was hired by someone who was shocked I had not found a job (after a year of searching). But it is only a contract job, and if we don't get more funding, it is going to go away.
In tech, no one really has time to understand your exceptional capabilities. They probably wouldn't understand it anyway. They go by other factors:
- How many people do we really need (right now that's few to none, more likely we need to fire more people)
- If you are hiring, you are in a hurry, and so you are going to go by how well you know this person.
- In many cases, hiring is a favor, to be repaid at a later date, because in big corporations, they don't audit hiring, they audit results. Sometimes they audit just costs and department returns, or costs vs contracting your department out. You have no control over this, it just is.
Techies went from "I don't wanna settle for any less pay" to "I have no idea where my next paycheck will come from" .
USA problem only, the rest of the world has always been paid shit for software so we don't really feel concerned to be honest. USA needs to realign itself with the global market rate.
This is true. UK tech salaries for example are nothing compared to US. So most people have had job stability in tech over here. Plus we have laws protecting employees from mass layoffs.
Where do you make a living these days? I’m genuinely curious because everyone is struggling and I don’t know where to pivot
Military, Police, Trades, Nursing, Teaching
@@321Adi123 Teaching? That's hilarious.
My 2c: Become a full-time Marxist-Leninist and work towards ending capitalism
@@niamhleeson3522 That might be the ideal path for real, I don’t see any other way
It's unfortunate to see that companies not offering benefits where they make lot of money from its employees
Private sector to public sector. People want security with their jobs, not fluctuation.
thanks for the insights currently despite all odds people are still preparing for tech jobs
Technology has outpace society basically
Ubi?
Im so happy that I didn’t become a software engineer. I ended up choosing Cybersecurity and I am still employed from 2022 til now making good money. I am also happy that I didn’t work for any big tech companies. Whats the use of being “high status” among your friends and earning 200k per year if you end up getting laid off in less 6 months. I rather be working in a not-so-popular company making 100k that has stability and security.
Never ending it logs and audits, barf
This is why it's a dream job because it never existed. It was just an illusion people had
When the economy collapsed, the tech companies couldn’t hide waste using cheep money anymore so the jettisoned the employees that didn’t add significant value to the company.
The employees that actually drove the bottom line were kept, the rest were let go.
I mean.. If you were able to work at a big tech company and get layoff, you'll get a severance package for 5-6 months and it's enough to find a new job. Maybe not in big tech but still a job with a confortable salary
I saw a daily copywriting job ad that stated, "no AI or chatgpt."
so whats the dream job nowadays? bouncing in a bikini to british music in front of Malaysia assembled phone with Chinese short video app ?
anyone hiring for this role?
I’m a tech dude but a dream job is a dream job.
😂@@mecanuktutorials6476
My dream job is to not work a job. Who wants to actually work a job for these companies that dont care about us lets be honest
I hear you. I got similar sentiment however in my country working a job gives you some social security plus you are concerned about business as much as corpo want you to. For me its similar case as movie 'Office Space'
Yes, actually
I agree that the fang companies were the catalyst for the major IT labour market disruption. And I like the message that IT is not gone for good but it will take time to evolve. IT has gone through multiple disruptions. This time won’t be any different.
dream job is no job with 5 million dollars
Maybe EM can confirm or refute this, but despite such bewilderingy high jobs numbers, the market remains strongly in favor of companies instead of applicants. There's something else going on and it's partly the way the jobs are being counted, as well as the incentives companies have (marketing gimmicks, tax deductions) to remain in a forever "hiring" status. In the entertainment sector where I work, job postings have become absurdly overloaded with skill demands while pay ranges have plummeted, and it's much the same pattern in other fields. My strong suspicion is that AI as implemented, perhaps baked in, is a tool to grossly overburden candidates while suppressing wages across the spectrum. There is an added danger that AI (and ATS software) could be used to discriminate against candidates for any reason, automatically, and never need to explain why. So ultimately there's another facet to the "instability of tech" abstract, which includes a collective lack of trust in its modern purpose & implementation. Tech isn't just firing us, it's also making finding a new job much harder. So why would anyone want to invest in it?
Not to forget that many jobs in tech are being outsourced to BPO companies in Asian and Eastern European Counties where the laws and salaries are much more favorable for them
Spot on. Here in Budapest, Hungary there are tons of American IT/tech companies, occupying thee modern, new-built offices. If you guys in the US wonder what's going on, here is your answer. We are dirt cheap, because our currency (Forint) is rubbish, too. So your companies don't have to pay high (according to US standards) salaries to do the same job. This is ladies and gents, 100% distilled *Globalism* , in it's purest form. Yet people still celebrate it.
@@istvantoth7431 I noticed that. Lots of video game companies are based in Poland. Makes me consider moving, how is Eastern Europe?
They didn't even talk about the rampant age discrimination in the tech industry. Unless you work for the government or a government contractor it is likely that you will struggle to stay employed in tech after 40 or 50.
What's the point of that age discrimination? Older Mechanical engineer, for example, are highly sought after in the industry.
Never typecast yourself to one industry.
That's hard in tech because it demands almost all of your time just to keep up
Meanwhile Crowd Strike incident BOSD is the reason why Companies needs to get IT back instead of outsourcing.
And how do you know that it wasn't local IT person who caused the issue?
I'm seeing more and more people with no technical experience come into the industry, who definitely shouldn't be there. A lot of people got a higher up job because they knew someone or could sell things, which doesn't translate well like in other industries. So I think a lot of these layoffs are due to people who don't understand technical things in charge of technical things, making dumb decisions, causing us workers to be fired.
Working in tech has always been a nightmare. Yahoo is just one example.
I just came here to comment that this is a stupid video and software has provided my family with an exceptional quality of life. And I love my job
Correlation is not causation my dude
@@producerdevelopment I’m not your dude my guy
@@AnalyzeStocks He's not your guy my man
@@aminebarnat he's not your man my friend
@@aminebarnat hes not your man my brother
Back to farm..
Aka plantation ⛓️