How to look for a job during layoffs in 2023?

Quite a lot of my friends are looking for a new job right now. As someone who recently went through this process, I wanted to share with everyone what I have been telling my friends.??

Directory of Jobs

Unfortunately, there is no single source of truth when it comes to job postings. So you will have to try some subset of the following options.?

LinkedIn

1. Look at your LinkedIn connections; create an Excel sheet with a list of companies and people who work there. Don't be too selective at this point - just filter out companies you definitely don't want to work for. Reach out to these people for a referral. Have a list of positions available at their firm, your resume, and a paragraph in 3rd person on Why This Person? ready for them - help them help you. Excel Column Template: Name, Company Name, Status {Awaiting response, Referred}, and Last Updated.
2. Look for jobs on LinkedIn. Make sure you look at the "Meet the Hiring Team" section of the job listing and reach out to the recruiter when you apply. Something like this should be good: "Hey, I am {name}. I have been a {title} at Google and Facebook with a CS degree from UPenn. Would love to connect with you to learn more about the X position and share a bit more about myself. Thanks for your time!"
3. Look for posts on LinkedIn from recruiters and hiring managers directly. Then reach out to them with a similar message as above. Use specific keywords to get more relevant search results. LinkedIn Search Example (yes, you can use boolean operators): hire technical program managers NOT (layoff OR layoffs OR laid).

Other Directories

1. Look for more companies to apply for on Levels.fyi. You can check out Fortune 500 as well.?
2. At this point, you have probably exhausted all job listings from most of the well-known firms. However, for startups, I recommend using PitchBook. Find a friend in college who is willing to share their password or screenshots of the search results. Filter by industry (e.g. tech), group of prominent VCs (e.g. Accel, Andreessen Horowitz, Founder's Fund, New Enterprise Associates, and Sequoia Capital), last known valuation (e.g. 1B+), funding round (e.g. series C or D), and optionally by vertical (e.g. healthcare). You will see a list of firms that you can sort by decreasing valuation; apply to all or any subset of them. Save the query so you can persist the results and start where you left off the next day. Feel free to explore other alternatives like CrunchBase as needed.

Applying to Jobs

Now you have a list of jobs to apply for, so here are a few things to keep in mind:

1. You need to apply for a lot of jobs. I have heard people applying to 500+ positions these days. However, it is important to distinguish progress from movement - don't mindlessly apply for everything but also don't just apply to FANG.?
2. Referrals are not optional - they increase your chances of getting an interview significantly. Try your best to get referrals for at least your top 25 firms. Use LinkedIn to reach out to people from your school, 2nd-degree connections, or anyone for that matter. Team Blind is occasionally helpful with this too.?
3. Understand minimum requirements are guidelines, not cutoffs for most cases. "Minimum 5 years of experience (YOE)" does not mean that literally; it just means they are looking for someone who knows what they are doing. As long as you meet the spirit of qualifications, apply for the job! Don't self-select, let the recruiter make that decision.
4. I would suggest not applying for very different roles at the same time. It is better to apply for 100 PM roles than 25 consulting, 25 PM, and 50 SWE roles in a given week. You may not be able to prepare the best you could have since prep time for SWE interviews will trade off with prep time for PM interviews. However, it is completely reasonable to give yourself deadlines. E.g. if I can't find a PM role in 6 weeks, I will start applying for SWE roles then.
5. Leverage ChatGPT to save time as you fill out job applications. "Here is my resume: {resume} and here is the job description {job}. Based on my resume and job description, write a personalized {cover letter, response to why I would like to work at this firm, response to which is my favorite product, etc.} in 1st person." Proofread it and double-check all details before you submit it.
6. Most importantly, find a support system you could lean on. Getting 100s of rejection emails can put a toil on your mind. Some firms will cancel interviews last minute and some will cancel positions after a few rounds of interviews. Have a group of people you can rant to. People who will say "they rejected you because you are too good for them and they know you won't accept the offer" - doesn't matter if they mean it or if you will believe them, sometimes you will just need to hear it.???

Miscellaneous?

1. Get unemployment benefits if you qualify - at best, it helps you preserve your savings and at worst, it changes your perception of people who use such benefits and makes you more compassionate.?
2. Open a few new credit cards as needed (ones with 0% interest rate for the first 12 months) - this could provide the short-term liquidity you may need. As a personal rule, I would not allow my credit card debt to be greater than my liquid assets.?
3. Stop investing in 401k and IRAs - cash is the most liquid asset, so try to maximize it even if it is not the most optimal for tax reduction.
4. Take breaks! It may take a while before you get a job you like (WSJ says 3 months). Probably not a good idea to lock yourself in your apartment in the meantime.
5. Depending on your circumstances, have pre-set metrics for "good-enough." If you have no savings, visa concerns, etc., it makes sense to take the first job you get. Else, be bold to say no and continue looking - if you take a job you will hate, you may have to do this all over again soon. However, also know when to stop - there is always something better but after a certain point, it is rarely worth looking for.???
6. Use this as an opportunity to enhance your network - send personalized LinkedIn requests to all your interviewers and recruiters, even if they reject you. They will help you find your next, next job.?
7. Don't be too hard on yourself - it is not your fault if you got laid off, and even if it was, that feeling is not very helpful in finding your next job. Life happens.?

Good luck!