i am in my mid-40 in software development. i am about to get an offer in Verizon NJ office. for those of you have seen a thing or two. does verizon has better stability when the downturn comes?
i am not really interested in career advancement at this point, just want to stable income, reasonable pay to support my family, and hopefully cruise to my retirement in 20 years.
thanks in advance for your advice!
If worrying every quarter if your going to get RIF's (reduction in force) is your idea of stability, Verzion is the place for you. They treat IT like dirt. I was there 20 years, and they let me go, then the next year sold the entire IT org to Inforsys India. Incidentally, I was in NJ myself. Nowhere is very stable, but I can tell you where I am now, I'm not walking around with the Sword of Damocles over my head constantly waiting for the next round of layoffs.
Flat out no, especially in IT. As with anywhere though, if you do take it, build up your skills, network a ton (so long as you have demonstrable results that matter) and ready yourself for the next career either with Vz or outside.
thanks for all your replies, coming from a cut-throat wall st banks, i hope verizon is better on that regard.
The answer to your question is 10 years ago is Yes. Today howeve is an overwhelming Hell No.
There is no way you can "cruise to retirement." You will be up against layoffs/outsourcing/offshoring the entire time even if you do get lucky and end up retiring @VZ.
As someone about 10 years older that took VSP my advice is to invest as much time as you can on your career. Don't just "cruise" .. learn new things, take on bigger challenges, etc. My #1 advice is to ALWAYS be looking for a new job - that means at least once a year going on some interviews, finding out if some other companies are willing to pay you more (or less) than your current salary, and finding out if you've got some skills/experiences gaps on your resume sooner rather than later (like after you get RIF'd and discover you've been in a coma technology wise for the last N years!!!)
I took a relocation years ago to get into a better job market because I knew my wife or I would be caught on a RIF. IT has had constant RIFs in the last 20 plus years. The RIFs use to result in true dead weight getting cut but there hasn’t been dead weight in IT for over a decade unless you want to talk about the useless ‘cheaper’ resources they continue to bring in. Nothing against these people but you can’t replace the application and business knowledge with someone off the street quickly. Good luck to you but the likelihood of you being with the company in 20 years is not great. Take advantage of all the training you can and always keep your eyes out for something better.
Recession proof? Yes, at least up until now. Competition proof? No. People might switch to cheaper alternatives during the next recession since they have caught up to Verizon with regards to network quality.
Also, this companies leadership is notorious for making terrible business decisions which results in constant employe layoffs to pay for them.
If you take the job s— up all the training they offer .... they are throwing it at people now to seem cool and lessen the stress of outsourcing...and keep your eye on new opportunities. Smart to move on in like 5 years at a higher salary for a better company.
To your point on recession proof, pretty much but the pressures to invest and poor IT leadership will continue to lead to stressful times in IT
Good luck
If this isn't a troll, seek employment elsewhere. Putting the words Verizon and stability together is quite funny.
If you want to work for a company for a few years, while getting some experience in corporate cruelty, take the job with Verizon.
As you are on this board, of all boards, asking that question .... you should already know the answer.
Your perspective should be one of looking out for yourself as it is most assured that Verizon will not be looking out for you. "At Will" employees are never looked out for, they are simply tools that can be used and tossed away "at will".
Verizon has had forms of layoffs the past 4 years in a row. It will be very tough to last 20 years.
Verizon sold the Basking Ridge headquarters, and might be slowly relocating employees to Texas. Do you have any issue with moving to Texas in 8 years?
20 years... cruise to retirement... in software development... and I suspect you are going to be stationed at the Death Star in BR.
Um, no. I just finished 25 years in IT. Left by choice, and have 20 years until retirement with two kids in college. That should tell you all you need to know.