Do you think a possible recession will be a problem for us it consultants and software engineers? The demand is so high currently, I can’t believe that we will get a lot of layoffs or something like this. What do you think?

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Salaries won’t rise , bottom 5-15% will be chopped off (performance review) and rest everyone in tech jobs should be fine !

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Whether you will do well in the recession depends on two things
1) Your skills
2) The industry and opportunities that your employer is targeting

For example - long term contracts with government. Those are great.

People that are focused on making products that are good for reducing costs - great products

People that build aspirational / optional / cutting edge products....not a great place to be

Strategy projects - not a good place.

Operational efficiency - great place.

If your employer is selling a product that helps keep companies afloat - then you are in a good spot

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Now the question is where would you group a position at Accenture in Software Engineering in this list?

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80% of the people don’t feel a recession. Reduced perks and reduced spending but if you keep your job you are fine.

Inflation will be tough. I lived through hyper inflation in my teens in Eastern Europe, it is not fun. Could buy bread only if I had a ticket, so one a day.

Look at recession just as economy reshuffling itself. It stinks for a year or two but things pick up again. We went through a pandemic, it all will be fine.

likeupliftingsmart

During the last recession, almost every IT consultant I knew (myself included) were very busy. Hourly rates were flat, but not the work. Companies needed IT consultants to help reduce costs through technology

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Never been laid off working in tech consulting during any recession / market dip. You have to have very high utilization and be in a very niche, high demand skill though.

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i remember charging my client (manufacturing/ oil & gas) 12 days overtime during the first 3 months of pandemic when my colleagues were on the bench… (crisis management + business continuity)

NB: it was with a different consulting firm

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Thanks for the response! I’m just wondering because I got a nice offer and want to change my job, but I’m a bit scared if it’s the right moment…

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VCs are telling startups have 2 years of runway or be done

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I believe others may have too rosy of an outlook in this, but the facts are no one can predict the future.

It’s possible there are significant layoffs with smaller orgs that can’t sustain for one reason or another, along with force reductions with larger firms like B4, probably along the lines of low skill / experience / util.

It’s also possible demand stays the same because contractors / consultants offer a more flexible way to spend reduced budget than having FTEs in that role.

I think depending on the industry and company size, you’ll see a mix of both.

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Haha, we’ve also had a lot of turnover in the PMO. They’re being stretched thin in most places and have many options.

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Federal contracts will be fine imo

It will be commercial that will be hit hardest/fat will be trimmed

likeuplifting

Most likely no, it's during recessions when we are needed the most. We thrive in chaos. Clients like to do more with less = short term patching (lean six sigma + intelligent Automation etc..). Some clients may renegotiate rates ... it doesn't change the fact that this recession is totally different, so don't get comfortable, stay productive within your team, interact more with your leads - your network is networth - nothing is ever guaranteed #staybusy

likesmart

Thanks for the insights. So you don’t think moving to a big player like Accenture is a dumb decision in the current situation?

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I’ve moved to AWS from Consulting also, the pay is quite a nice chunk more than consultancies will pay.

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I got so many offers since covid started, doubt a recession will do anything to dent it. Too much work for too few good people. Some days I get 6 calls by recruiters before noon for jobs.

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In the same boat as OP, joining D

Sure

Cuts already happening in tech startups.

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are there lay off going on anywhere, is the recession here?

EY is going to start with layoffs in July. Do you think the latest proclamation on H1-B visas will make leadership think of putting us on the chopping block ahead of others (all other things being equal)?

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Lots of people loosing jobs due to Layoffs. Please ping me I can refer you in Accenture!

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