Tech and a Growing Number of Other Day Jobs - Peril of Being a One-Trick Pony



"With tech layoffs at their highest since the 2001 dot-com crash, the job hunt is getting harder and many in the industry are being forced to settle for pay cuts if they can find a new gig at all." - CNBC, March 16, 2024

SPECIALIZATION, YOUTH NO LONGER SAFE HARBORS

Yes, that is happening in tech in which just this year 50,000 have lost their jobs at 200 companies. And, with the exception of some AI engineering positions, if they do find another job, they usually have to accept less money and fewer accommodations/benefits.

This mirrors the employment situation of being over-50. Pro Publica had issued the infamous finding that once you age you are most likely to be pushed out of your job and have only 10% shot at earning a comparable salary.

HIGHER EDUCATION AS PLATFORM FOR GLUT

Meanwhile, that manpower glut is bound to continue. In college and for advanced degrees there has been the supposed wisdom of concentrating on tech subjects. Professional anonymous networks such as Reddit Career Guidance and Blind post about how difficult it has been to be hired for entry-level jobs or circle back into the workforce after opting out for a while to attend graduate or professional school. 

As an intuitive coach, I know there is a solution. It's, dating way back to college, to put together and keep bringing up to date a portfolio of skills. You can't take on a one-dimensional career identity such as "I am the creative sparkplug who is on the staff of the Harvard Crimson" or "I am the math genius who started an outreach program in a low-income area."

What else can you put out there to eventually earn income?" 

How about a part-time job in healthcare or a gig delivering pizza? This sounds like heresy, but top grades may be overrated, unless you are gunning for being hired by Wall Street, management consulting or applying to law school, then elite law firms. There is that old joke: The “C” students wind up being the bosses of the “A” students.

NO ONE-TRICK PONIES

A variety of ways to bring in money will be especially important when knocked off your career path, even temporarily. The new game is not to have to dig into savings. Incidentally that also applies to the aging semiretired whom I coach. They hustle for whatever kinds of work in order to prevent withdrawals from their investment funds. 

AND, NO ONE IS SITTING PRETTY

Even those seemingly sitting pretty had been multi-dimensional in how they sing for their supper.

Trial attorney John Tarantino also is a CEO for an oncology firm.

Public relations representative Bob Dilenschneider has created branding as a book author and voice of conservatism.

Brad Karp has been a litigator, facilitator in arbitration, lobbyist, marketer/sales outreach and chairperson of Paul, Weiss.

Elon Musk, of course, is all over the money-making spectrum. So is his nemesis OpenAI's Sam Altman.

Gone is the old-line concern about "diluting" a professional identity. It’s about keeping money coming in. 

In most cases you have only one shot in communications. Jane Genova is a communications coach and content-creator. Complimentary consultation (please text 203-468-8579 or email janegenova374@gmail.com)


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