Categories
Antiwork

My observations on the tech job market change in the last 6 or 7 months

Here are my observations (somewhat anecdotal) but also confirmed by friends and associates in similar positions. Take from this what you will, but maybe will help someone. The response rate is down. Just 6/7 months ago, I typically got a 5% to 8% response rate on LinkedIn for both easy apply and application form-style jobs. Now I am seeing well under 5%. That means less than a single further response that isn't a “NO” is at a rate of less than 1 in 20! In reality, I suspect the number is closer to 3%. I still need to do the actual numbers. Of course, these are back-of-the-envelope numbers of me, and for you will be different. Massive ghosting, even in the process. Companies are dragging their feet. Already so far, multiple companies have just stalled in the process after the first, second and even third interviews. Moving the goalposts. Companies…


Here are my observations (somewhat anecdotal) but also confirmed by friends and associates in similar positions. Take from this what you will, but maybe will help someone.

  1. The response rate is down. Just 6/7 months ago, I typically got a 5% to 8% response rate on LinkedIn for both easy apply and application form-style jobs. Now I am seeing well under 5%. That means less than a single further response that isn't a “NO” is at a rate of less than 1 in 20! In reality, I suspect the number is closer to 3%. I still need to do the actual numbers. Of course, these are back-of-the-envelope numbers of me, and for you will be different.
  2. Massive ghosting, even in the process. Companies are dragging their feet. Already so far, multiple companies have just stalled in the process after the first, second and even third interviews.
  3. Moving the goalposts. Companies are putting more barriers in the way during the process; for example, one trend I have noticed is for more f2f interviews! And early too.
  4. Pushing and specifying the number of days in the office is a key part of the role. Most of what I am applying for is remote, but I see the rise of the “on-site” job, which means a daily commute once more. But even for hybrid roles, upfront is some “demand” for three days in the office, whereas before, it was more of an “open” discussion.
  5. Salaries are less, by a massive margin. Often 30 – 40% less, by my estimation. Companies are lowballing, and I think now they are fishing for those desperate enough. They want it all and do their best to get it at the lowest price.
  6. LinkedIn jobs are getting more than 200 applicants per job in many cases. I would call these middle-ranking jobs in terms of seniority but have their inbox stuffed with applicants. Previously I expected dozens, but not hundreds, in what is often just a few days.
  7. Direct applications garner no response. I emailed the companies I am interested in working for and sent a cover letter whether they have a role or not. I have sent out around 60/70 of these and have not had a single response – even a polite “NO”! 0% response rate. What about a simple reply!? Nada. What is worse is that I use mail opening software to see if they open, which they often do multiple times. Is ghosting the Norm now?
  8. As investment is down, many start-ups seem not to be hiring at all, so just overall, the “soft” VC money means that are very few jobs going at the moment. I see the same few companies – rather than fresh new companies each time I search. I
  9. Very few job vacancies on corporate job sites. Looking at Google UK jobs, there are 22 jobs, at one time, there was just one student vacancy a month or so back. Most roles are sales, for example.
  10. Companies are quite vindictive. I feel many are treating their candidates without respect, for example, asking for a huge amount of time without offering any commitment. For example, asking for a f2f early on, like the first interview, which would take a day of my time, to cancel appointments, travel in etc., but only an hour of theirs. No offer to even pay the transport costs. I see these subtle aspects as a way that the employer shows dominance from months before when they were keener to attract applicants. Now they are spoilt for choice.
  11. I have applied for over 300 roles in one month!

I'm probably exhausting the roles that I can apply for because I have already applied either directly or indirectly through consultants. But I thought I'd share my experiences. How do fix? Well, the way I see it:

  1. I'll take a more junior job now, but when (if) things improve I will dump it.
  2. I feel extremely Machiavellian about the whole process, and I think this will kill any inherent loyalty for employers. It's a numbers game.
  3. Staff retention impacted. Staff are only there because of their circumstances. At the first given moment they can get out, they will.
  4. We are teaching people there is no job security, and there never will be, and we should expect to apply for jobs continuously (unless lucky enough to be headhunted).

Leave a Reply

Your email address will not be published. Required fields are marked *