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Out of status, employment gap and status revalidation Gap in employment(paystubs) and the resulting problems during status transfer and green card filing.

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  #1 (permalink)  
Old 10-27-2008, 06:13 PM
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Default Howz the job market so far?

We are in midst of an economic storm. Just want to get a sense of how things are in terms of technology hiring. How are you or your friends doing? Are your friends at bench etc.

This seems bigger than dot com crash. I almost survived that, but not sure about this one.
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  #2 (permalink)  
Old 10-27-2008, 06:31 PM
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sanjayc has much to be proud of sanjayc has much to be proud of sanjayc has much to be proud of sanjayc has much to be proud of sanjayc has much to be proud of sanjayc has much to be proud of sanjayc has much to be proud of sanjayc has much to be proud of
Default 2009 will be bad for Job Market

Usually job market is a lagging indicator and is worst just before economy improves. As nobody has so far called out a bottom of current financial rout, it is difficult to predict if the worst is already here or still to come.

On the other note, two of my friends lost their job recently and though are getting calls but have not landed a job yet. I am not sure how bad it was during dotcom bust, but i hear from people that so far it is much better than during that period.

We might have renewed outsourcing pressure with rupee becoming cheaper, but most of teh low hanging tech jobs are already outsourced, it should be much better this time than 2001. Though i was not here during that time and not sure how bad it was then.
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  #3 (permalink)  
Old 10-27-2008, 06:48 PM
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Default

Quote:
Originally Posted by sanjayc View Post
Usually job market is a lagging indicator and is worst just before economy improves. As nobody has so far called out a bottom of current financial rout, it is difficult to predict if the worst is already here or still to come.

On the other note, two of my friends lost their job recently and though are getting calls but have not landed a job yet. I am not sure how bad it was during dotcom bust, but i hear from people that so far it is much better than during that period.

We might have renewed outsourcing pressure with rupee becoming cheaper, but most of teh low hanging tech jobs are already outsourced, it should be much better this time than 2001. Though i was not here during that time and not sure how bad it was then.
I was a victim of the dot com bust, and It was mostly people who worked in startups and internet-consulting companies like marchfirst,ariba, aol that were impacted, the big companies were mostly fine. Now the big companies have been the hardest hit already, we dont know if the small ones are hit yet, but since they are the bottom layer of the food chain they will also be eventually impacted so this time it is going to be all-out and much much bigger than dot-com bust.
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Old 10-27-2008, 07:31 PM
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Default Job Market

Quote:
Originally Posted by gcseeker2002 View Post
I was a victim of the dot com bust, and It was mostly people who worked in startups and internet-consulting companies like marchfirst,ariba, aol that were impacted, the big companies were mostly fine. Now the big companies have been the hardest hit already, we dont know if the small ones are hit yet, but since they are the bottom layer of the food chain they will also be eventually impacted so this time it is going to be all-out and much much bigger than dot-com bust.
What is the logic behind your statement that it will be "much bigger than dot-com bust" regarding jobs. I feel this country still needs a lot of technology professionals. I feel jobs will be there and productivity will raise. There will be a recession no doubt I don't know how the job market and unemployment will fare.
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  #5 (permalink)  
Old 10-27-2008, 08:18 PM
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Default Nice Article on the current financial crisis

http://www.forbes.com/technology/200...10economy.html
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  #6 (permalink)  
Old 10-27-2008, 11:32 PM
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Default

To the a**hole who gave me red asking "explain how I was victim" , moron, learn some commonsense when to give the red, I was a victim bcos my employer shutdown operations.
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  #7 (permalink)  
Old 10-27-2008, 11:38 PM
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Default

Quote:
Originally Posted by gcseeker2002 View Post
To the a**hole who gave me red asking "explain how I was victim" , moron, learn some commonsense when to give the red, I was a victim bcos my employer shutdown operations.
Don't be emotional friend. It's just a red nothing more than that. Take it easy.
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  #8 (permalink)  
Old 10-27-2008, 11:41 PM
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ivjobs is a glorious beacon of light ivjobs is a glorious beacon of light ivjobs is a glorious beacon of light ivjobs is a glorious beacon of light ivjobs is a glorious beacon of light ivjobs is a glorious beacon of light
Default Job market appears to be pretty bleak

Job market especially in IT sector appears to be pretty bleak. And more so it's the year end, not many hirings till the next quarter. It's a holiday mood too..
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  #9 (permalink)  
Old 10-28-2008, 12:47 AM
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Smile 2009 will be very difficult year

I am sure things will be worse, but 2009 will be much better than 2001. In 2009 lot of companies hired left and right by hoping they might need more work force, now that is not the case. Economy is down because of financial melt down,not because of problem in technology sector. And almost of all the companies have offices in India and trying to run in cost effective way.

I am not saying there will not be any impact at all, but technology sector will see in direct impact than 2001. There will be cost cuttings, salray cuts and lay-offs. But hoping those will be less compared to 2001.

It's just my openion.
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  #10 (permalink)  
Old 10-28-2008, 12:59 AM
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Default

The real economic impact is yet to be felt. The impact is currently just financial, things will spread to the real economy in the coming months.
Unemployment is expected to hit 8-10% according to various estimates.
We shall know more by the start of the new year. I feel the IT sector will be hurt no more than any other sector this time around, but it will be nonetheless bad.
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  #11 (permalink)  
Old 10-28-2008, 07:20 AM
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Default

I have only a few friends and they are ok for now. I am ok too. But all are holding tight to thier jobs.
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Old 10-28-2008, 10:08 AM
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Default

We have a few open positions and it's hard to find good candidates (Boston area). So much for the bad times. It may get worse, but my feeling is that falling commodities prices plus turnaround in the housing market will help the economy to climb back.
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  #13 (permalink)  
Old 10-28-2008, 10:35 AM
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Victim of Economy..

I ahd been working on H1b for a state own company from past 4 years. Since my h1b comes under excempt, I was not able to transfer to any private firm unless I am counted under excempt by filing in april and starting in october.

I had found a fulltime job in march who agreed to file my h1b under MS quota and it got approved also. I was so excited to work for them in october, but due to bad economy, I gave up the new job and decided to hang on to present secure state gov job. I sleep and wake up thinking, did I take a right decision...??? Only time will convicne me on this...


Any peace of advice will surely light up my mood.

Quote:
Originally Posted by lazycis View Post
We have a few open positions and it's hard to find good candidates (Boston area). So much for the bad times. It may get worse, but my feeling is that falling commodities prices plus turnaround in the housing market will help the economy to climb back.
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  #14 (permalink)  
Old 10-28-2008, 11:06 AM
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Default

I would disagree. Many big companies laid off people during 2000-2001 time. To name a few, Cisco, Sun Microsystems, Juniper were actively involved in the lay off process. Yes dot com world was bleeding like anything.
Like someone else said, lay offs create a glut of professionals in the job market and that drives down the wage.
If you happen to see Java developers serving food on your table in Indian restaurants, then it is 2001. If you hear about people leaving new Camry/Accord in airport parking lot and and taking one way plane to India....it is 2001.

I think we are no where close to that situation as far as IT is concerned.. Sit tight. Work Hard.

Quote:
Originally Posted by gcseeker2002 View Post
I was a victim of the dot com bust, and It was mostly people who worked in startups and internet-consulting companies like marchfirst,ariba, aol that were impacted, the big companies were mostly fine. Now the big companies have been the hardest hit already, we dont know if the small ones are hit yet, but since they are the bottom layer of the food chain they will also be eventually impacted so this time it is going to be all-out and much much bigger than dot-com bust.
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Last edited by kumar1; 10-28-2008 at 11:10 AM.
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  #15 (permalink)  
Old 10-28-2008, 11:12 AM
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Default Good call.

"Stay put" is the thumb rule - whether you are in a job or stocks. Specific situations may call for a different strategy. Based on what you mentioned, and my experience in switching jobs/locations, a 5%-10% increase in salary would not add much to your bottomline after taxes and other inherent costs involved in switching jobs. My 2 cents.

Quote:
Originally Posted by tabletpc View Post
Victim of Economy..

I ahd been working on H1b for a state own company from past 4 years. Since my h1b comes under excempt, I was not able to transfer to any private firm unless I am counted under excempt by filing in april and starting in october.

I had found a fulltime job in march who agreed to file my h1b under MS quota and it got approved also. I was so excited to work for them in october, but due to bad economy, I gave up the new job and decided to hang on to present secure state gov job. I sleep and wake up thinking, did I take a right decision...??? Only time will convicne me on this...


Any peace of advice will surely light up my mood.
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