Mid-40s software engineer here - industry is shrinking fast… what are my options?

Posted by nkosijer@reddit | AskUK | View on Reddit | 343 comments

I've spent the past 7 years working in London as a senior engineer for a large consultancy. Overall, it's been a solid run: good salary, constant learning, and I still enjoy building things just as much as I did 2 decades ago when I first got into tech.

But the downturn is hitting the industry hard. Remote work opened the door for more offshoring, so a lot of projects are shifting to India or Eastern Europe. A couple of weeks ago our team received an email saying that our project will wrap up by the end of December. Around fifty of us will end up on the bench, and since there aren't many new clients or open internal roles, I'm preparing for the possibility that redundancy is coming. Nothing official yet, but it doesn't look good.

I briefly checked the job market, and it's nothing like it used to be 7 years ago. There are fewer openings, and the ones I'm seeing pay noticeably less than my current role. So I'm trying to figure out what else I could realistically do with my current skill set.

A startup isn't really an option since I used all my savings for a house deposit just 4 months ago. And even if I had the capital, it wouldn't start generating income quickly enough needed for mortgage. On top of that, AI has seriously devalued a lot of coding work, and I don't expect that trend to reverse anytime soon.

So I'm looking for advice. Has anyone been in a similar situation recently? What does a 45yo engineer do to redirect their career? I'm into 3D printing and have considered doing something with it. Or maybe a complete shift into something more stable, even if it's unrelated to tech (fastfood? tradesperson?).

I'm not panicking yet. I hope I'm just overreacting... my company might spin up another internal project like they did last year... but the overall decline in the industry is getting hard to ignore