Te-Ping Chen
speaker
373 appearances
7 recordings
1 series
first heard Mar 2022
last heard Oct 2024
Te-Ping Chen’s voice in public audio — every appearance, attributed to the second.
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Appearances
And it became a really intense bidding war, almost an auction mentality at times.
Yeah, absolutely.
So it was a time when we saw enormous raises being offered in many cases, huge signing bonuses and others and other perks like remote work, etc.
Well, especially after we saw the layoffs really ripple through tech starting last year, a lot of companies across sectors have become much more cautious in their hiring.
A lot of companies just looking around and sensing potential economic headwinds over the last few quarters and thinking, okay, well, we have to be more conservative here.
Sometimes that looks like layoffs.
And in other cases, as our story reports, it also looks like pay cuts for new hires.
We're seeing a lot of these declines happen, especially in professional services and in the tech sector.
We are also seeing it across others as well.
So certainly not exclusively something that's happening with professional jobs, but more concentrated there, I would say.
There are.
The government is one sector where and also nonprofits where we have seen some growth.
It's not necessarily just industry specific that we're seeing.
For certain really in demand roles in whatever industry, you're still seeing pay bumps.
Absolutely.
And for others, even in industries that are really struggling to hire or where we're seeing a lot of demand now, there are other roles that may be seeing pay cuts.
The data we have is for new hires, and we can see very plainly that the trend has reversed from what it was before.
Last year, we were seeing pay jumps across a very comfortable majority of jobs being posted, and now we're seeing the inverse happening.
As far as whether this is going to affect other workers, already employed workers, that's harder to say.
I have certainly heard of cases in which companies have been lowering salaries.
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