[dmarble]

Very similar story here on the PM side in the US.

~15 YOE (FB/Meta most recently), ramping up a search after a sabbatical, targeted job search to roles where I have non-trivial experience and domain expertise, customized cover letters, leveraging my network, open to relocation, open to hybrid or remote, etc.

I'm seeing 3-5% response rate over the past few months. It's rough out there. No response for seemingly great matches. Slow moving recruiting process, even at early-stage startups. Rejections after screenings and first round interviews where the mutual fit seemed excellent.

Hiring manager friends and talkative recruiters tell me that in contrast to the past decade where they'd routinely screen people who met most of what they're looking for, they're now dealing with a massive volume of very qualified applicants (and trudging through a massive volume of unqualified applicants). Deciding who to screen and who to do a first round of interviews with is taking a lot more time and effort. And the first round of interviews might include 6-8 unicorn (i.e. perfect) candidates, where in the past they'd be elated to find 1 unicorn.

I've been through a couple down cycles, so I'm focused on grinding away till I find something. I think every level is feeling the pain in some proportional way. Big sympathy for early career folks. Even if we reset compensation expectations, it'd be a shame if the sector ends up losing out permanently on a range of talent. There's no way tech needs are going to decrease on a medium-term horizon (though they may shift).