Shocking Truth: Why You Won't Get Hired or Get Fired

Summary

In this video, Adiya Mishra from Prime Coding discusses the salary drop and job market challenges for 2024 graduates due to an economic slowdown. She highlights layoffs, revoked offers, and the impact on IIT placements, advising viewers to secure jobs quickly and prepare for a competitive market.

Takeaways

• 📉 Economic slowdown in 2024 is expected to result in a significant drop in salary packages for new graduates, with a decrease of 30 to 40% compared to previous years.
• 🏢 Companies like Intuit and Flipkart have started laying off employees, indicating a challenging job market for new graduates.
• 🔗 Creating a LinkedIn profile is highly recommended for job seekers to stay updated on hiring trends and company activities.
• 🚫 Intuit has reportedly revoked offer letters for 2024 graduates, highlighting the uncertainty in job placements.
• 💼 Startups are emerging as primary recruiters, possibly offering lower salaries but providing opportunities in a competitive job market.
• 🤔 The script suggests that 30-50% of students may not get placed in 2024, particularly in IITs, due to economic conditions and company hiring shifts.
• 💼 Companies are hiring skilled labor at lower packages, which could lead to a reduction in salaries for graduates from tier 3 and tier 4 institutions.
• 📈 Job seekers are advised to accept offers promptly and continue searching for better opportunities, as the job market is becoming increasingly competitive.
• 🌐 Global economic conditions are affecting the job market, with fewer jobs and lower salaries being offered, making it crucial for graduates to be proactive in their job search.
• 🔍 The script emphasizes the importance of having a strong skill set in current technologies, as basic skills like HTML and CSS may not be sufficient in the competitive job market.

Q & A

Why are 2024 candidates expected to receive lower salaries compared to previous batches?

The script suggests that due to an economic slowdown, there is a significant drop of 30 to 40% in salary packages. This is attributed to global economic conditions affecting company profits and hiring practices.

What is the impact of the economic slowdown on the job market for IT professionals in India?

The economic slowdown has led to a decrease in salary packages and a shift in hiring trends. Startups are emerging as primary recruiters, and there is a notable reduction in the number of students getting placed in IITs and other institutions.

How does the script describe the current hiring and firing trends in companies like Intute and Flipkart?

The script mentions that companies like Intute and Flipkart are laying off employees, labeling them as underperformers. This indicates a tough job market, with companies downsizing to manage costs.

Why is it recommended to create a LinkedIn profile for software development professionals?

LinkedIn is highlighted as a platform where professionals can observe current hiring and firing trends. It can help in career development by providing insights into the job market and networking opportunities.

What is the significance of the 40% drop in salaries mentioned in the script?

The 40% drop in salaries is a breaking news point in the script, indicating a significant reduction in the expected remuneration for new graduates, which is a direct result of the economic downturn.

How does the script suggest that companies are handling the economic slowdown in terms of hiring?

The script indicates that companies are hiring fewer people, offering lower packages, and focusing more on skill-based recruitment. They are also revoking offer letters and delaying joining dates.

What advice does the script give to job seekers regarding job offers?

The script advises job seekers to accept any offer they have in hand without delay, as the job market is becoming more competitive and offers may become less attractive or unavailable.

What is the role of referrals in the current job market as described in the script?

Referrals are becoming increasingly important in the job market. The script mentions that alumni and students who have been placed through on-campus recruitment are helping current students by providing referrals to companies.

How does the script explain the situation of job seekers who are on the bench or not assigned to any project?

The script describes job seekers on the bench as facing a difficult situation where they are not generating revenue for the company. This leads to job insecurity and the need to search for opportunities elsewhere, often with minimal salary increases.

What is the script's perspective on the future of the job market in IT in India for 2024 and 2025?

The script predicts a challenging job market with fewer opportunities and lower salary hikes due to a global economic slowdown, higher base salaries, and fewer job openings. It also suggests that job seekers might face more competition and need to be cautious in their job search.