Even most of the FAANG companies have frozen hiring - that should tell you that the job market is very soon going to turn from being in favor of the employee to favoring the employer. Those of you who decided to wait and didn't take the opportunity to get out of T when it was easy are now stuck. You snooze, you lose.
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Outside of tech companies(FAANG and non-FAANG), ATT is actually competitive now with the new TSRs. Of course, that's just the pay. Some companies are more remote friendly, some are not, and some definitely have better WLB. The other thing that makes the tech companies comp lucrative is their RSUs (But that is volatile depending on the company stock price at grant, ect). ATT doesn't offer RSUs to anyone below a 3rd level. The 11% and 13% bonus that 2nd lines receive is competitive with the bonus structure of other companies. There is a site called "levels.fyi" that actually spells out the salaries for various companies and is a bit more comprehensive than Glassdoor for some especially when it comes to levels/titles and comp breakdown.
while its true there have been some hiring freezes (as at at&t), I saw a headline 'Microsoft To Double Salary Budget in bid to Retain Staff'
While people with my job title had a nice bump up at T 10 months ago, that was before inflation set in. And the job will be in demand for quite some time. HR claims to contently recheck the salary band against our competitors (in a way that is legal somehow). If that were true, should be getting another large payband shift up
For tech Folks (Software engineers, technical program managers) ect, I encourage researching the interview process at tech companies(not just FAANG). You can expect 5 rounds or more and for software engineers coding interviews. The Total Comp will definitely be more than AT&T(in some cases 2X depending on your location). Meta has freezes for some roles, but not all. Google doesn't have a hiring freeze. Yes, Netflix is not good, but I'm not seeing or hearing anything about Apple in terms of Hiring freeze or of Amazon for tech roles(Yet). Other tech companies are still hiring like crazy, while some have freezes.
I’m craft of 25 years. Will be here another 25 years. Easy job and easy money. I feel sorry for those who hate it here. The problem is yours , not mine.
There are troubling times now, but not in the labor markets, at least, not yet.
Ahead? I would argue the troubling times are already here and have been here for some time.
T has been here before and always seems to weather the storm! T strategists will have to evaluate the current position and then determine where T goes from there or, it just might stay the "business as usual" course! I wouldn't worry too much about any fallout!
No one is stuck at the moment. Right now, with inflation at 8½% and interest rates at 0.75%, federal reserve policy is stimulative. In fact, over the last 6 months, inflation rates have risen faster than the Fed's interest rate hikes, so one can argue that the Fed's actions are more stimulative than 6 months ago.
All that there has been is a lot of talk. But with the government running huge deficits, any interest rate hikes will create trouble servicing those deficits. That may mean that the Fed is stuck and can't raise interest rates much further. If so, it won't arrest the labor shortages and inflation.
There is still time at this point, but less time to waste. But I see clear sailing in the employment area until 2023 at least. We're not facing a 2008 scenario.
Why would I want to leave? I don't get the hate for AT&T. Other than cuts, this is not a bad place to work and have a career.