Laid-off execs scrambling to find new six-figure salaries are facing fierce competition, Time reports. Thousands of high-end white-collar jobs have vanished recently, and many more are expected to go. Some top-level vacancies are still appearing, as execs retire or change jobs, but companies looking to fill their most powerful positions are finding it's definitely an employer's market.
As the glut of talent grows, execs are calling in contacts, scouring job sites, hiring résumé writers—and increasingly taking whatever they can get. "When those looking for high-end jobs are struggling, they become amazingly tolerant," the chief of one research firm said. "They'll take work for which they're underpaid and overqualified. In that respect, they're just like everyone else."