Question: As a student majoring in a tech-related field, I've noticed a significant increase in layoffs reported in the news and on LinkedIn. How does this trend impact my career aspirations, and do you have any guidance on navigating this evolving industry?

Answer: Over the past few years, there was a substantial shortage of tech talent. Job openings greatly exceeded the number of qualified individuals, creating a highly competitive landscape from a company's perspective. This led to extensive hiring and record-high compensation packages being offered. As a result, tech job seekers had the upper hand, with a multitude of positions available at any given time, and companies competing vigorously to attract top talent.

However, towards the end of 2022, a significant shift occurred. Companies started laying off employees in large numbers as they realized they had over-extended themselves. The practice of over-hiring and overcompensating was no longer sustainable, prompting a wave of cost-cutting layoffs.

Now, in many areas of the tech industry, candidates no longer hold the same advantage they once did. There are often more candidates than available positions, leading to intense competition in the hiring process. As a result, candidates must be exceptionally well-prepared.

With a considerable number of individuals from various tech disciplines currently facing unemployment, the future may appear uncertain for students preparing to launch their tech careers. However, there's still hope. These tips will help you understand and prepare for the road ahead.

Read Continue - Ask A Tech Recruiter: 3 Tips For Navigating A Tough Tech Job Market