Quote:
Originally Posted by candybar
It'd be interesting to see what happens in a major recession though.
Yeah it would. I've never seen a major tech bust so far, and that really includes the larger field of engineering as a whole in my lifetime, but allegedly there were some big problems in the 80s. You always hear about people going from like IBM to driving cabs, but it's hard to tell how wide spread that might have been.
It was alleged in the mid-90s that the reason that engineers were commanding such high salaries and hiring bonuses was that a lot of people permanently left engineering in the 80s and when hiring started back up, those people didn't come back and so there were shortages of experienced people. But again that's just the line I was handed in school so who knows.
The 2000 tech boom was definitely a bubble but most people seem to have walked away unscathed. But there may be vast reams of people who were barely qualified (or unqualified) for programming work who just went back to non-tech jobs. During that period we basically hired anyone who seemed smart, whether they had any programming experience or not, and basically ran bootcamps to train and indoctrinate them. It was a brutal time - we hired very readily but we also let people go after a few months if it wasn't working out. I think that's an effective way to hire, but essentially inhumane (and possible discriminatory, for example for foreign workers for whom losing a job could mean having to leave the country)