The interesting thing here is that may firms are seeking inexperienced people now to cut their costs (the ones still seeking people at all, that is). If the market gets worse, those job postings will disappear and then new-grads will definitely find themselves in the worst spot, with unemployed experienced people beating them out for entry-level-wage jobs. This happened in other non-engineering verticals in 2008 and certainly can happen to engineering too.
The bay area is just too damn expensive.
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The interesting thing here is that may firms are seeking inexperienced people now to cut their costs (the ones still seeking people at all, that is). If the market gets worse, those job postings will disappear and then new-grads will definitely find themselves in the worst spot, with unemployed experienced people beating them out for entry-level-wage jobs. This happened in other non-engineering verticals in 2008 and certainly can happen to engineering too. The bay area is just too damn expensive.