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I just recently went on a job search, and it was a very passive one at that. I already have a job where I work from home full time, but I was kind of bored with the technology I worked with, and the job just seemed less challenging than a lot of the work I did in the past. So I put my resume on dice, and I literally got flooded with calls. I even got some job interviews, and 3 out of 4 of them turned into offers. Within 2 weeks I had 3 offers for super competitive rates. In short, the tech market is scorching hot right now. I mean I can't even imagine how soon I would have had a job if I wasn't passively looking. Now I have 3 offers on the table and an actual job I already work.
My question is, will the market ever show any signs of slowing down? Right now there seem to be so many jobs in tech for senior people, that I literally have to silence my phone as I can get 30 calls from recuiters a day. I tell my girlfriend that I am afraid that things may slow down one day, but I always wonder if there are any trends in the market I should look out for that may show the industry slow down?
One of the problems with tech is that turn overs are pretty high. People rarely stay for more than 1-2 years and move on, that's the only way to get salary increases more than single digits.
To think it's actually pretty stupid for firms not to give out pay raises to keep workers unless they are trying to automate or push responsibilities onto another worker. In the end it may cost them more than 25% of the employee salary just to hire & train another.
I first started my career in the mid 90's during the dot com tech boom. Upper management was basically saying "we have finally figured out an industry that is recession proof." The company was lavish in the way it treated employees, which I liked. I remember thinking that it's Economy 101 that there are boom and bust cycles in every industry. I was right and things did come crashing down in 2001.
The boom now is basically in media platforms, mobile phone apps, and newer technology, but it is exhibiting signs of a bubble as well. Some of the apps they are getting VC for are quite questionable. Expect a correction eventually.
Yeah, I only have about 2 solid years of AWS cloud experience, and employers are going nuts for it. I even tell employers I'm not an AWS expert, but AWS is one of those things that get instant attention on your resume. I have noticed there are a lot of projects for companies trying to move a lot of their infrastructure over to the cloud. A friend of mine at a former company is moving to Texas and is getting paid 150k a year with a 20% bonus to move there. And this is soley based on his programming skills and his ability to do cloud.
I'm not entirely sure if cloud computing will remain hot, but one would have to think that pretty much every company with tech is trying to leverage the cloud in some way. To the point they're willing to pay top dollar just for someone who can help them get into the cloud.
I first started my career in the mid 90's during the dot com tech boom. Upper management was basically saying "we have finally figured out an industry that is recession proof." The company was lavish in the way it treated employees, which I liked. I remember thinking that it's Economy 101 that there are boom and bust cycles in every industry. I was right and things did come crashing down in 2001.
The boom now is basically in media platforms, mobile phone apps, and newer technology, but it is exhibiting signs of a bubble as well. Some of the apps they are getting VC for are quite questionable. Expect a correction eventually.
The tech industry isn't recession proof, the ones that are recession proof are more diversified and can whether through.
If a recession happens tomorrow, more than 1/2 of tech firms with under 1000 will fold. Because most of them get their cash flow from Wall Street's cheap money.
Once the Feds start to raise interest rates you'll see Wall street start trimming their portfolio then the unicorns will be harder to find.
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