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[quote=Anonymous][quote=Anonymous]My department posted two Cybersecurity analyst positions, and we are looking for recent college grads with some internship experience.  We received over 3700 applications.  Of those 3700 resumes, 99% of the candidates were rejected. From 99% of the resumes, there were 75 of those applicants graduated from Ivies, Northwestern, UCLA, UVA, Michigan, etc...  We looked at 37 remaining applicants and phone-screen about eighteen of them.  We brought nine candidates for on-site final interviews.  As a technical interviewer, I asked "off the record" how many jobs they applied for and the number of interviews they received in the past twelve months.  Almost all of them told me that they had applied for over 500 jobs, received less than 5% of phone interviews, and less than 1% for final interviews.  All nine candidates qualified for the two positions, but we only have two slots available.  In the end, my manager selected one from Brown, and the other one from UVA.

The job market is horrible.  I know many people who were making 300K/yr from Amazon and Microsoft, and they got layoffs.  [b]They are looking for jobs that only pay 150K/yr, and are still looking[/b].[/quote]

Wage deflation.  Tech companies had been laying off their higher paid workers and importing foreign labor for decades now, they aren't stopping now. I am afraid that the usual road to upward mobility through education and entering formally high paying fields may be no longer accessible.  I am not even sure how to advise my kids in this situation.  There are very few fields left where there is upside. It's also uncertain they will continue being lucrative years later given how fast things are changing.  Degrees may not be worth the cost anymore, and once the stream of parents with fat 529 accounts dries up our education system may look completely different. [/quote]

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