I'm currently on the job market, and one of the things on my mind is I'd like to pick a company that may survive the next economic collapse. All signs seem to point to an upcoming large correction to this bubble economy, and I'd hate to be laid off because of it.<p>Does anybody consider how "recession proof" their job may be? Any thoughts on what industries to look towards for better job security? Obviously a lot of startups and investor backed companies are probably not a safe bet.<p>Thoughts?
If that is your priority, go with whatever not-obviously-risky company that wants to pay you the most money, and save up for when the recession eventually comes. Bonus points: buy up undervalued assets during the recession, subject to your risk tolerance.
Not very lucrative jobs in general but perhaps something within education? Typically subsidised and higher level sometimes sees an increase in applicants during a downturn.<p>Recently I met with the head of IT for a large high school and it honestly seemed like a cool job. They were building a bunch platforms. Apps for parents, auto-debit functionality for school fees, access control & remote learning functionality. Plus general digitisation of the school operations.<p>Id recommend a soundproofed office though :P
Look for anti-cyclical companies and more generally “value” companies (in opposition to growth companies). This means large companies in banking, insurance, telcos... Consider that everyone has to purchase home and car insurance, whether the economy is booming or in a recession. Everyone will still have a mobile plan and/or an internet connection. Everyone will still buy groceries at Walmart. Any sector that grows slowly during economic booms will shrink slowly in a recession.<p>Other factors: the bigger the company, the more inertia it has (assuming your job suppports its core business; even large companies will cut side or non-essential activities if the economic forecast is bad). B2B companies are less exposed to a recession at first, because of longer contracts and decision cycles in enterprise customers (it’s relatively easy and quick for an individual to downgrade their internet plan to save money; it takes much longer for a large company to renegotiate a telco contract). Defense is always a safe bet.<p>So basically the bigger the company, the more boring and/or morally dubious the sector, the better :D