Wednesday, 5 June 2024

A job seeker says she was invited to a work happy hour after an interview, but it turned out to be another hiring test

Rooftop happy hour
A rooftop happy hour.
  • Job hunters haven't had it easy in recent months despite a relatively strong labor market. 
  • One job seeker said she was invited to a happy hour after her on-site interview.
  • But instead of mingling with potential colleagues, she met other candidates for the job, she said.

Job seekers are no strangers to jumping through hoops for their prospective employers.

But some employers seem to be taking hiring tests to new levels.

A TikTok user named Marissa Marlowe shared her experience in a recent video, saying she'd applied for hundreds of jobs before being invited to an on-site test with a prospective employer. Business Insider couldn't verify her identity or the company she applied to.

She said that during the day, she gave a 75-minute presentation and had conversations with others at the company, adding that she was then invited to a work happy hour to meet the rest of the team.

But the happy hour was full of other candidates, she said. Marlowe jokingly compared the process to the US reality TV show "The Bachelor" — with multiple candidates all vying for one job from the employer.

Even after jumping through the hiring hoops and attending the happy hour, Marlowe said, she was ultimately rejected for the job.

Job hunters haven't had it easy in recent months. While The Great Resignation kicked off in the wake of the COVID-19 pandemic when a wave of people took the opportunity to quit their jobs and start new ones, things have since stagnated.

We've entered what some are dubbing the "Big Stay" — a phenomenon which sees more people staying in their jobs compared to two years ago. Plus, with many major companies slashing jobs, the market has only become more competitive.

Job hunters have also complained of a particularly brutal recruitment market: deciphering fake job ads on LinkedIn, being ghosted by recruiters, and navigating new AI recruitment tools like doing first-round interviews with AI chatbots.

During the pandemic, more employers also started incorporating cognitive and psychometric tests to get to know candidates better. However, these tests can bring more stress to candidates who aren't sure what results the employer is looking for.

Despite low unemployment rates in the US, many job seekers aren't feeling the effects of a relatively healthy labor market. That's especially true for higher-earners, who are facing a less favorable white-collar job market, and those looking for remote jobs.

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Tuesday, 4 June 2024

Indian stocks post their biggest losses since the pandemic after Modi fails to win a landslide

India's Prime Minister Narendra Modi.
Indian Prime Minister Narendra Modi.
  • Indian stocks plummeted on Tuesday, suffering a $390 billion wipeout.
  • The flagship NSE Nifty 50 index dropped nearly 6%, posting its worst day in more than four years.
  • The losses came after Narendra Modi's party won far fewer seats than expected in India's election.

Indian stocks had their worst day in more than four years on Tuesday as Narendra Modi's narrower-than-expected election victory rattled markets.

Mumbai's NSE Nifty 50, the main stock market index, tumbled as much as 8.5% before ending 5.9% lower as investors reacted to news that the coalition led by the ruling Bharatiya Janata Party (BJP) is expected to win about 300 seats in the Indian parliament.

That would give Prime Minister Modi a slim majority, but fall well short of the 400-seat landslide predicted by earlier exit polls.

It was the Nifty 50's worst trading session since the start of the pandemic in 2020, erasing nearly $390 billion in market value, per data from Bloomberg.

Meanwhile, yields on 10-year government bonds edged up, and the Indian rupee fell by around 0.5% against the US dollar.

On Monday, stocks climbed to record highs as traders bet on a landslide win for Modi — but Tuesday's results could make it much tougher to push through policy changes, analysts said.

"The sudden shift in the early counts and polls that suggest a reduced majority for PM Modi and the BJP is proving to be a nasty shock for Indian financial markets," AJ Bell investment director Russ Mould wrote in a morning note.

"Just as the 10-year bond, rupee and headline Sensex equity index had strengthened as voting closed, in anticipation of a Modi landslide, all three are now giving up some of those gains."

"There had been so much expectation built into the Nifty that we've seen it rise to a record this year," Kathleen Brooks, research director at XTB UK, told Business Insider. "The results aren't showing that supermajority, so Modi won't be able to push through his very pro-growth agenda, and that's why we're seeing this big sell-off."

Several stocks tied to the Indian conglomerate Adani were among Tuesday's worst-performing stocks, with Adani Enterprises sinking 19% and Adani Ports tumbling 21%. Every member of the group racked up double-digit losses.

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I was a millionaire by 30 and retired at 36. I outsource many parenting tasks I don't enjoy, but you don't have to be rich to do the same.

Christine Landis standing in her kitchen with her husband and two kids.
Christine Landis was a millionaire by the time she was 30 years old.
  • Christine Landis is a mom of two and a multimillionaire.
  • She manages parenthood like a business, outsourcing tasks where possible.
  • Even parents with moderate incomes can benefit from outsourcing, she said.

This as-told-to essay is based on a conversation with Christine Landis, CEO of Peacock Parent. It has been edited for length and clarity.

By the time I was 30 years old, I had a million dollars in the bank, but throughout the first half of my 30s, I still didn't feel financially secure. I also knew that if my husband and I had kids at that point, I would feel a constant pull between my obligations at work and my obligations as a mother, even with his support. I didn't want to constantly feel pulled in two directions, and the truth is that my priority was my career.

At the time, I was the CEO of National Cred-A-Chek, which provided banking information to casinos and gaming operators. When I was 36, a Canadian company acquired the business for eight figures. The offer was unsolicited — we hadn't been actively trying to sell the company — and the transaction happened quickly. Suddenly I had enough money that I never needed to work again, and I was retired at 36.

Christine Landis reading a book to her kids at bedtime. Her husband is sitting next to her and picking up one of her kids.
Christine Landis outsources some of the tasks of parenting that she doesn't enjoy.

I outsourced tasks and did the ones that brought me joy

I decided to work on my next big venture: motherhood. I had my first child at 37 and my second at 39. Because I was financially secure, I was able to outsource the more mundane tasks of being a parent. I hired two nannies and didn't worry about the cost. I outsourced laundry, housekeeping, and cooking, in addition to the childcare help.

I approached motherhood the same way that I ran a business. Most parents have limited time, money, and energy. I was in the unique position of having plenty of money, and I knew I could use it to buy myself more time and energy, in a way.

I didn't engage with the parenting tasks I dreaded, like doing bath time or reading the same book 500 times. That freed me to show up fully, energetically, and passionately to the parenting activities I do love, like swimming together, eating breakfast, and exploring museums.

I think all parents should outsource some of the job

Most parents don't have millions in the bank, but they can still use a similar approach. In 2003, five years after the sale of National Cred-A-Chek, I started another company, Peacock Parent, to help other parents vet concierge services that can free up their mental energy and give them more time to enjoy the aspects of parenting that bring them joy.

Even if you're not wealthy, you can still use three of my favorite outsourcing tools, including:

  • A virtual family assistant: Lots of people are familiar with working with virtual assistants in the office, and I think it's time we apply the same idea to the home. This isn't just a help for moms — it's an assistant for the whole family, including dads and childcare providers. I've used a family virtual assistant to schedule doctor's appointments. They're great for keeping an eye on your calendar so you know when events like Teacher Appreciation Week are coming up.There are lots of options for virtual family assistants. If you use an actual person, you'll pay more, but you'll also get a higher level of service. One of my favorite AI-driven options is DuckBill, which starts at $99 a month.
  • Laundry service: Parenthood adds at least 5-10 loads of laundry each week, which is downright exhausting. I love Poplin, which is like Uber for your laundry — they pick it up, and then they wash, fold, and return your laundry to your home. The minimum order price is $20, enough for about two hampers of laundry. I understand that might be a lot of money for some people. And yet, if you have the financial resources, you have to weigh the cost against the freedom of having more quality time to spend with your kids.
  • Gift-giving services: Even when it's not the holidays, as a parent, you're constantly thinking about things like birthdays, showers, and graduations. Finding a gift requires lots of thought and emotional energy, not to mention the time needed to actually go shopping.That's why I love Poppy Gifting. For $25, Poppy gifting will curate a list of 10 gift ideas based on the event, recipient, and budget. I recently used the service to get a friend a bag to celebrate an award she got at work. She appreciated the gift, and I appreciated how easy it was to get.

    Christine Landis and her family on a playground, pushing her children on the swings.
    Christine Landis founded the company Peacock Parent to help other parents learn how to outsource tasks.

Weigh the time saved against the money spent

I know my financial situation isn't typical, and I don't pretend it is. I'm able to splurge on some parenting support that is unobtainable for most people. My favorite is a personal chef. Three days a week, we have a chef that comes in for eight hours a day. He takes care of all shopping, prepping, cooking, meal serving, and cleanup.

That's a ton of work, and since I'm not someone who enjoys cooking, it's money well spent to remove it from my plate. But it comes with a high price tag: we pay the chef about $70 an hour. Most people can't afford that, but maybe you can outsource some of the mental load of meal prep by buying pre-sliced fruits and vegetables or meal kits, or budget for takeout when work is especially busy.

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Monday, 3 June 2024

GameStop's stock almost doubles premarket after Roaring Kitty reveals his $116 million stake

gamestop
  • GameStop shares skyrocketed in premarket trading on Monday.
  • The surge came after "Roaring Kitty" trader Keith Gill revealed a $116 million position.
  • The meme stock also surged last month after Gill broke a three-year social media silence.

GameStop shares surged ahead of Monday's opening bell after trader Keith Gill, who posts on social media under the aliases "Roaring Kitty" and "DeepFuckingValue," revealed he holds a $116 million stake in the struggling retailer.

The stock was up 84% in premarket trading shortly before 5:00 a.m. ET after an account snapshot posted on Reddit's r/SuperStonk forum revealed that Gill holds five million GameStop shares.

Late on Sunday the trader also posted a picture of a reverse "Uno" card on X, which had 56,000 likes at last check.

GameStop also spiked last month after Gill broke a three-year social media silence with a series of cryptic posts, although the so-called meme stock subsequently gave up most of those gains.

Gill hit the headlines in January 2021 when his bullish analyses of GameStop triggered a short squeeze.

He later told the House Financial Services Committee that he was "not a cat." He was one of the main characters in the 2023 film Dumb Money, where he was portrayed by "The Batman" and "There Will Be Blood" actor Paul Dano.

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Sunday, 2 June 2024

I'm a millennial job seeker who kept getting my résumé rejected. Then, I changed the formatting.

Dania Swails at college graduation
Dania Swails began working in finance after college.
  • Dania Swails found her résumé wasn't being read by applicant-tracking systems.
  • Swails, who's worked in finance, revamped her résumé to make it easier to get through.
  • She simplified her résumé format and has started to get more callbacks for job applications.

Dania Swails, 28, has worked in finance and is looking for another job in the industry after leaving her last role. She has faced numerous rejections to jobs she's applied for. A recruiter suggested she rework her résumé so an applicant-tracking system might more easily read it.

I have a bachelor's degree in sports management. I graduated in 2019, and the pandemic started in March 2020. So, some of the job offers I had — and the prospects I had — weren't starting until the next season, but my opportunities went away because of the pandemic.

I had a friend who was a stockbroker. She said, "Hey, my job will train you to become a broker if that's something you're interested in." At the time, I just needed a job. So, I became a broker.

I got into it, and I just really liked it. I really liked finance. My dad works in finance; he does taxes and investing. He's told me my whole life that I need to look into finance. When I started in the industry, my dad and I used to study every night for my Series 7 exam, which I passed.

After working as a broker, I was recruited to be an equity trader. I really got into data and trends research when I was working at that job. I was there for two years, and then I got laid off.

After I got laid off, I went on LinkedIn and found a job as an analyst. It was my first time not working with clients. I worked directly for the bank. I did like being an analyst; I just didn't like the company.

I felt like, "Well, I've been in finance for four years. I've managed these accounts. I've done this. I haven't had a problem having a job." So, at the end of January, I thought, "I'm burned out from this employer. I'll just leave. I'm sure I can find something else." That didn't happen.

When I was a broker — a first-year broker — it felt like I was getting recruited on LinkedIn every day. That's how I got that job as an equity trader. And, even when I was laid off, I was only out of work for three weeks, and I was right back at work at a new job.

But now, it's months later, and I still don't have a role. This has been the hardest it's ever been. I've never had an experience like this. LinkedIn had always been my best friend, but now it's my worst enemy — it's like a shift happened.

Revamping my résumé

I'd been told my résumé is impressive. I'd also been told it's too long, it's too short, it's too vague, and you need to change the formatting. I had my education and my skills on the side, along with my contact information. I had a template that was pretty fancy looking. I'd always used it, and I always thought that it had caught the recruiter's eye. But I just haven't been having much luck. So, I've been changing my résumé — adding things, taking things off.

There would be jobs where I met every requirement, and I was getting rejected, getting rejected, getting rejected. When I was an equity trader, I needed three to five years of experience, but they recruited me, and I only had a year and a half of experience. So, I was able to get into a higher role. And then, I became an analyst who needed a bit more experience than I had. But they said in the interview that they liked where my head was at, and so I got hired.

After I left my last job, I applied for roles where I didn't meet all the requirements, but I figured I could talk about my experience. I was getting automatically rejected, so I decided to apply only for jobs where I met every qualification. And I was still getting rejected.

I've been here in Cincinnati now for four years. I like it but would also like to go somewhere else — maybe Miami, Philly, D.C., or Chicago. I was applying for jobs and taking my address off my résumé so it wouldn't flag in the system. I was still not getting anything.

Then, a recruiter I'd been working with said my résumé could be getting caught in applicant-tracking systems. She said I should put it through a system that will see if it flags when you compare it to a certain job description.

When I submitted my résumé and job description through this system, I was surprised by the results. It said I had a low chance of getting the job. My résumé had dashes, which could have been throwing it off because an ATS sometimes doesn't recognize dashes. I also had more than 32 characters in the file name, and I was told that wasn't good, so I shortened that.

The recruiter said the formatting and template I used weren't reading, and the ATS wasn't picking up my key skills or education. I was also told that if it's over one page, but definitely two, it will kick it out automatically.

I've had to revamp my résumé completely. I made it a simple document — basic black and white. Instead of having separate columns, it's straight up and down and in chronological order. It hasn't been that long, but I have had two callbacks since I updated it.

I was glad to have the new résumé, but it also made me sad, honestly, because I feel like I missed out on many jobs — especially ones that I really wanted.

I said, "Oh, yeah, I definitely will qualify for this." I'd set my LinkedIn filters: I would apply for jobs that just opened in the past 24 hours with under 10 applicants. It's like, "OK, this only has three applicants. I meet all the requirements besides a bachelor's degree in finance." I have the required experience. Then, my résumé was automatically rejected.

Where I go from here

In the end, I will probably keep both versions of my résumé. I want to have one that stands out when a person actually looks at it — that jumps out against all the other black-and-white, simpler résumés. And then I'll have the résumé I enter in the system for the ATS.

All of this just makes me feel like, what is the point of having recruiters if you're going to have a system that flags everything? I get it from an HR standpoint. If I were a recruiter, I would not want to go through 5,000 applications. However, being someone who's job-seeking, this system doesn't work.

At my last job, my mental health was just deteriorating. But I have a new source of stress now. Part of me feels like I'm being punished for not staying at my job — like I stuck my neck out too far. I wasn't arrogant when I left, but I did have the mindset that I could find something else because I have experience and I have a degree. And in the past, I was always getting recruited.

When you've been unemployed for four months, you feel like maybe you were too arrogant. Maybe I wasn't humble enough. Maybe I should have stuck it out. Maybe I should have just stayed until there was something else. You have all these scenarios that go through your head when you're just not getting anything. It is very demoralizing.

Now, when I apply, it often feels like it's just about what scans in the system. If you can get through the system, then you can prove yourself or have someone take a chance on you. But you have to get through the system first.

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I tracked all the ads I received in a day — here's what I saw

Ads graphic
Most of the ads I saw were on social media and I didn't mind them.
  • I tracked all the ads I saw in a day and counted over 130.
  • Some ad settings can be adjusted, but control over frequency remains limited across many platforms.
  • I didn't mind most ads because they either catered to my interests or were easy to tune out.

Ads have become so embedded in everyday activities and media consumption that you may not even notice how often you run into them.

When my editor asked me to track all the ads I saw in a day, I wasn't sure how it would go. Prior to this experiment, I hadn't paid close attention to how often an ad or sponsored content floated before my eyes.

While the words "sponsored" may show up on a video or image you scroll past on social media, the font is often small and if the content is successfully targeting you, you may not even notice.

I missed a few ads during this process, especially on sites where I was focused on getting the answer I was searching for. But based on what I did catch, I spotted over 130 ads in a single day.

Let's dive in.

Your settings can (sometimes) make a difference

The type of ads you receive may be adjustable in your settings. But for most platforms, you won't be able to control how many you see.

To personalize Google ads, for example, you can go to "My Ad Center" and opt to turn personalized ads on or off in the top-right corner. If you turn them on, Google will use the information it collects about you to give you more personalized ads. That means your activity on Google sites and apps will be saved in your Google Account and information from your account, like your age, will also be used.

I decided to keep personalized ads off for Google because that's how I usually have it. This resulted in me sometimes missing ads on my screen. I'm so used to seeing random photos and brand names in the corners and sides of my screen that my eyes glazed over some of them. It drew a sharp contrast to my experience with social media ads, which are fully personalized to my activity on and off-site and often pull my attention.

When it comes to social media, you don't have as much of a choice — although some do let you pay to remove or decrease ads. Facebook now offers a paid version in the EU for people who prefer an ad-free experience, YouTube lets you pay for Premium to remove them, and Elon Musk's X says paying for X Premium+ means no ads in your For You or Following feeds.

But TikTok, for example, says on its website that "you will always see ads based on what you do on TikTok." But you can provide feedback on an ad if you're not interested in it. Other social media sites have similar ad policies.

With TikTok, Instagram, and most apps that you download on your phone, you can turn off ad-tracking across companies and websites in your privacy settings.

My social media feeds were filled with ads

I spent about two and a half hours on Instagram on the day of this experiment — and I saw about 75 ads.

I probably never went through more than four posts at a time without being interrupted by an ad. But most of the ads were similar to content I regularly engage with in my explore feed or online.

Farmrio
I started getting ads for this brand a few days ago as I've been searching for vacation clothes.

I find ads with multiple products and links particularly effective because it's easy to engage with them and find out pricing or other details. I also loved seeing sponsored food content because it gave me ideas of where to go out to eat.

NYT cooking ad
I recently made an NYT Cooking recipe for Mother's Day after seeing an ad for it on Instagram.

None of the ads resulted in me purchasing any items, but if I continue to see interesting ads in my price range for weeks at a time, it may eventually influence my buying patterns.

For TikTok, the ads were even less noticeable because the app is so casual. For example, I would start watching a woman wipe down her counters and then see Mr. Clean at the end of the video before noticing the "sponsored" label at the bottom. I also found some of the TikTok ads interesting or helpful.

I didn't engage at all with internet ads

I tracked about 40 ads online, but since they weren't personalized to my interests I sometimes didn't notice them. I saw a range of ads from USPS to T-Mobile, to random shows on streaming services that I had no interest in.

Google ad Tylenol
As a 25-year-old, I'm not sure I'm the right demographic for Tylenol's arthritis variant — but that's understandable since I didn't have personalized ads turned on.

Sometimes, they were images, and other times, they were full videos. I also saw a couple of ads on YouTube videos but usually skipped after a few seconds, so I didn't fully engage with those either.

Miscellaneous ads

I use the language-learning app Duolingo every day and those are the only ads I truly dread. The ads are animated with sound and I sometimes put my phone down and walk away because of how painful it feels to watch.

I also saw about 10 ads in real life on the subway on my way to and from work. By the end of the day, I noticed these less, but in general, they tend to stick out more than non-targeted ads on the internet.

New York subway ad
Subway ads tend to be more colorful and some of them are witty too.

I also receive several push notifications and ads over text every day. I counted about seven on the day of this experiment, including a push notification from Urban Outfitters about a flash sale, a text from CorePower Yoga for discounted class packs, and a push notification from Amazon about trending sunscreen.

Ana's push notifications
I get a version of these ads every day on my phone.

Most of the ads don't bother me

My biggest takeaway from this experiment was that I really didn't mind the ads. In fact, sometimes I liked them.

I love online shopping and browsing — and I like that apps like Instagram curate content to my interests. I've discovered new brands on Instagram that I ended up ordering from because of ads. Even if it doesn't lead to a purchase, I enjoy seeing items that fall in my line of interest and inspire me to look at similar products.

The push notifications and the texts were probably the most annoying of all the ads I received, and I find myself deleting them on a daily basis.

I also don't follow too many influencers, but I immediately scrolled past content if I saw it labeled with "creator earns commission" or if it included a discount code in the caption because I'm not interested in paid content from someone I follow for enjoyment.

As far as Duolingo's ads go, yes, I find them annoying — but I also wouldn't pay $12.99 per month to get rid of them.

It's clear that we're seeing more and more ads on our phones and TV screens — Netflix and Amazon recently introduced ads to their streaming services, although both offer ad-free options for an extra cost.

Luckily, I'm on my roommate's plan for Netflix, and my family has an Amazon and Spotify subscription, so I don't have to deal with these. I sometimes watch Hulu shows and the ads are annoying, but I usually walk away if an ad comes on.

For me, watching or listening to an ad is the most frustrating, and I would definitely be bothered if I was constantly interrupted by them. When I was growing up, I found radio commercials unbearable, and I might have paid for an ad-free option if I still had to go through those several-minute interruptions.

But the honest answer is I'm used to ads by now, and even find some genuinely interesting. We're living in an advertising world — and if I have to deal with sponsored content for clothing brands I like while scrolling on social media — then so be it.

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Saturday, 1 June 2024

Climbing Mount Everest can be deadly. Some Sherpa guides say the grueling work isn't worth it anymore.

A Sherpa man carrying bags on a trail on Mount Everest.
Sherpas are synonymous with Mount Everest, but some say the grueling, risky work may not be worth it much longer.
  • The majority of guides who lead tourists up Mount Everest are Sherpas, an ethnic group. 
  • Some Sherpa guides predict that soon, no one from their community will work on the mountain anymore.
  • They said the risks outweigh the rewards — even if a Sherpa can earn up to $10,000 per expedition.

The following story is based on Business Insider's short film about Sherpas, an ethnic group known for their mountaineering prowess on Mount Everest. The film, "Why Some Sherpas Say There Won't Be Any Guides on Everest in 10 Years," was directed by Prakhar Deep Jain and produced by BI's video team.

It's so treacherous to summit Mount Everest that human remains are a common sight on its frigid mountainside.

Among the frozen bodies are many ethnic Sherpas — an Indigenous people who make up the majority of Everest climbing guides.

Their job is to do everything possible to help mountaineers — who, from 2025, will pay up to $15,000 just for a permit to climb the world's tallest mountain — reach the summit safely. Duties include carrying heavy packs with supplies and assisting people through the most perilous sections of the mountain, such as the infamous Khumbu Icefall.

Edmund Hillary and Sherpa Tenzing Norgay
Sherpa Tenzing Norgay and Edmund Hillary were the first to successfully summit Mount Everest in 1953.

No day on Everest is a walk in the park, which is precisely why some Sherpas think the era of their people dominating the mountain as climbing guides is coming to an end.

Phurba Wangchhu Sherpa, a 48-year-old guide who has summited Everest more than a dozen times, said: "There will not be any Sherpas left in the mountain in 10 years." (Most Sherpas, including those interviewed for this film, have the last name Sherpa.)

Here's why.

Even if your body is built for Everest, you're still at the mercy of the mountain

Climbing Everest once and living to tell the tale is a feat — doing it more than once is why Sherpas are such a crucial asset on an expedition, according to climber Sam Rashid.

"When you're at high altitude, and they tell you 'It's OK, it's going to be OK,' said Rashid, who trained for over a year for his first attempt to summit Everest in 2023. "It's very reassuring that they've summited so many times."

If anyone is built to climb Everest, it's Sherpas.

In 2017, academics at the University of Cambridge published research indicating that over thousands of years, Sherpas have genetically evolved to use oxygen more efficiently and preserve muscle energy compared to people who live at lower altitudes.

Their bodies, down to a cellular level, are fine-tuned for the mountains. "There's certainly something really remarkable about their ability," Andrew Murray, who worked on the Cambridge study, told NPR.

Climbing guide Pastemba Sherpa on Mount Everest.
Climbing Mount Everest can be deadly, no matter who you are.

Remarkable as they may be, Sherpas aren't immune to Everest's many dangers, which include unexpected avalanches, hidden crevasses, and falling ice and rock.

The Himalayan Database reports over 330 people have died on the mountain since the early 1900s. One hundred and seven of the dead are Sherpas.

"A lot of amazing Sherpas lose their lives here every year," said Phurba Wangchhu, the guide who has summited over a dozen times. "Many of my own friends have lost their lives."

Reflecting on an incident in 2023 where three Sherpas died after getting buried in an icefall, former climbing guide Dawa Geljen Sherpa said: "They would have children to feed and dreams for their family, but everything got shattered in that moment."

Sherpas on Everest face a lot of risks with increasingly little reward

One of the draws of a career in mountain guiding, especially on Everest, is money.

Mountain guides certified by the International Federation of Mountain Guides Association earn between $4,000 and $10,000 per climb, depending on their experience level, tips from climbers, and bonuses if a summit is successful.

For climbers like Rashid, it's worth every penny.

"It would be an insult, I think, if we would come and pay hardly anything and summit the mountain," he said.

Two mountain climbers cross an icy crevice using a horizontal ladder.
Mount Everest climbers cross a ladder in the Khumbu Icefall.

But because the optimal window to climb Everest occurs between March and May, guides can typically only count on one expedition — which typically takes two months — a year, meaning they have to supplement their incomes with other odd jobs, such as farming and teaching.

Even though mountaineers pay as much as $100,000 for an Everest expedition, guides see only a small percentage. Tour agencies keep most of the money.

Making the job even more financially questionable is that most guides pay for their own climbing equipment, which can cost up to $7,000. Some of it must also be replaced every couple of years.

For guides like Phurba Wangchhu, the financial burden is becoming too heavy.

"The income made from climbing mountains is not enough for us," he said.

Everest tourism is booming, but some Sherpas are looking for jobs elsewhere

In May 2023, the government of Nepal issued a record-breaking 478 climbing permits — which was also the most deadly climbing season on Everest so far.

In April, a representative of Nepal's Department of Tourism told local outlet The Kathmandu Post that the department expects to issue over 400 climbing permits before the end of 2024.

But even as demand to climb Everest remains robust, many Sherpas are weighing alternative sources of income, including jobs in Nepal's growing economy that don't require putting their lives on the line for a paycheck.

The skyline of Kathmandu, Nepal, showing buildings and surrounding mountains.
Nepal's job economy has undergone major shifts in the 21st century.

In 2020, the World Bank issued a diagnostic report on Nepal's job economy, noting that 4 million jobs had been added since 2010.

The country has seen a noticeable shift in employment trends over the last decade, with people moving away from traditionally rural farm work to wage-earning jobs in areas like construction, transportation, and manufacturing in cities.

But things were different when Phurba Wangchhu grew up.

"I was born in a rural region," he said. "We had no other options left than to work in the mountaineering sector to make a living."

He is glad to see there are more options for the next generation beyond working as guides.

"I wouldn't involve my children in this work," he said.

Mountaineers line up during their ascent to summit Mount Everest in Nepal.
Mountaineers line up during their ascent to summit Mount Everest in Nepal.

Dawa Geljen, the former guide, suspects that younger members of the workforce "wouldn't want to climb Everest" anyway.

The allure of the mountain, however, remains. Shusant Nachhiring Rai, 19, still dreams of conquering Everest as a climbing guide. He works as a porter, a job that involves carrying luggage, food, and supplies to and from Everest's base camp, which many do before becoming fully-fledged mountain guides.

"I'm working as a porter to make my body stronger," he said. "I wish to make a name for myself. I am preparing to be a climber, and I am confident that I will be one in the future."

Nonetheless, the world is changing, and Sherpas are changing with it — leaving the fate of mountaineering on Everest hanging in the balance.

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