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State of the Tech Job Market

IT recruiters have a unique role. They must know their company’s hiring needs and also stay on top of the latest software industry trends in order to screen candidates for future innovation. Below are the latest IT recruitment trends and stats our RPO recruiters are keeping a pulse on.

IT is a Growing, Stable Industry

According to Statista, in January 2022, the number of employees in the United States information sector totaled over 2.9 million people, one of the highest values in recent years. And this growth will only continue. BLS states that IT jobs are expected to grow 11% by 2030, by 52,700 jobs, faster than the national average, with Software Developers expected to grow by 22% in the next decade.

They also reported that In 2021, the US tech sector contributed roughly $1.8 trillion to gross domestic product (GDP), approximately 9.3% of total GDP. The yearly percent of tech contribution to GDP has been consistent since 2018, making it a very stable and rewarding industry for employers and employees alike.

Analysts Are in High Demand

US News reports the best tech jobs as below. Worth noting is the shift in demand for analysts over the last several years. This makes sense when you think about how the focus in the past was developing and storing data, and now that data needs to be analyzed for trends and insights.

  1. Information Security Analyst
    • Projected jobs: 47,100
    • Median salary: $103,590
    • Education required: Bachelor’s
  2. Software Developer
    • Projected jobs: 409,500
    • Median salary: $110,140
    • Education required: Bachelor’s
  3. Data Scientist
    • Projected jobs: 19,800
    • Median salary: $98,230
    • Education required: Bachelor’s
  4. IT Manager
    • Projected jobs: 52,700
    • Median salary: $151,150
    • Education required: Bachelor’s
  5. Systems Analyst
    • Projected jobs: 42,800
    • Median salary: $93,730
    • Education required: Bachelor’s
  6. Web Developer
    • Projected jobs: 25,500
    • Median salary: $77,200
    • Education required: Bachelor’s
  7. Database Administrator
    • Projected jobs: 13,200
    • Median salary: $98,860
    • Education required: Bachelor’s
  8. Network Architect
    • Projected jobs: 9,000
    • Median salary: $116,780
    • Education required: Bachelor’s
  9. Systems Administrator
    • Projected jobs: 18,800
    • Median salary: $84,810
    • Education required: Bachelor’s
  10. Computer Support Specialist
    • Projected jobs: 58,000
    • Median salary: $52,690
    • Education required: Some college, no degree

Salaries and Employment Varies by State

The Bureau of Labor and Statistics reports that the states with the highest paying salaries for IT are:

  1. New York: $195,900 annual mean wage
  2. California: $193,500
  3. New Jersey: $189,540
  4. Washington: $178,130
  5. District of Columbia: $176,000

And, the following metro areas have the highest employment levels (1.0 is on par with nathe tional average):

  1. San Jose/Sunnyvale/Santa Clara: 5.42
  2. San Francisco/Oakland/Haward: 3.33
  3. Boston/Cambridge/Nashua: 2.15
  4. Washington/Arlington/Alexandria: 1.75
  5. Seattle/Tacoma/Bellevue: 1.70 
  6. Dallas/Ft Worth/Arlington: 1.29
  7. New York/Newark/Jersey City: 1.26
  8. Los Angeles/Long Beach/Anaheim: 1.23
  9. Atlanta/Sandy Springs/Roswell: 1.19
  10. Chicago/Naperville/Elgin: 1.04

IT Employees Appreciate Advancement, Low Stress, Flexibility

When it comes to job satisfaction, IT employees, for the most part, feel their needs are met with the industry’s ability to: 

  • advance in their career
  • maintain a manageable stress level, and
  • work in a flexible environment, or with a flexible schedule. 

Compensation and benefits are still a very important factor for IT professionals. Companies rated highly on compensation and benefits saw 56% lower attrition. And although it may feel like smaller companies can’t compete against FAANG (Facebook, Amazon, Apple, Netflix Google) and MSFT (Microsoft), a recent study from Angel confirms 30% more startup employees said they were happy in their current roles compared to folks at larger companies.

But, compensation isn’t everything. When recruiting, remember that 43% of workers would be willing to leave their companies for a 10% salary increase, largely because they’re not happy with their company culture or some aspect of their role. And in this same study, less than one-third of respondents think their company has a strong culture. Those are pretty encouraging numbers if you’re thinking about how to open IT candidates will be when considering leaving their current employer.

If your HR department would benefit from an IT recruitment partner who works seamlessly as a member of your team, consider Hire Velocity. Whether your organization needs full recruitment process outsourcing, contingent hiring, on-demand recruiting, or something completely specialized, contact the experts at Hire Velocity.

IT Recruitment Trends You Need to Know_Infographic Overview