Hired Releases First Quarterly Report on Tech Hiring Trends
In an effort to monitor shifts in the job market and examine trends for candidates and companies across the tech sector, the data science team at Hired analyzed our proprietary hiring data from the first half of 2016. Findings from the first Hiring Pulse Report indicate that the tech market is still thriving, despite rumblings of a tech slowdown.
Because Hired facilitates the job search process from the initial interview request all the way to the final job offer, we have unprecedented visibility into the hiring needs of tech companies and the salaries they offer. The Hiring Pulse Report data is from Q2 2016 and was pulled from an analysis of thousands of interview requests on Hired’s platform.
A LOOK AT THE GLOBAL TECH JOB MARKET
Product management is the most lucrative career in tech.
Product managers were offered more money than any other tech role. Initial offers in Q2 were $133K on average, which is 2 percent lower than offers in Q1, but still the highest in tech. Interview requests with product managers increased by 8 percent in Q2, so salaries may go up again.
Data science is booming.
While interview requests for data science candidates grew by a whopping 20 percent in Q2 — the most of any tech role — the number of data science candidates on the platform increased by even more at 50 percent. This surplus of data science talent may be driving salaries down. In Q2, companies offered data scientists an average of $127K, which is down by 2 percent since Q1.
Something is up with the design sector.
In Q2, designers attracted the lowest salary offers in tech at an average of $115K, which is down 2 percent since Q1. But demand is still high: the number of interview requests for design candidates was second only to software engineers.
Software engineers are still coveted.
While salary offers for software engineers decreased by 2 percent in Q2, at $123K on average, job security is no concern. Software engineers have received nearly 56,000 interview requests in 2016 — the highest of any tech role by far — and Q2 saw a 14 percent increase in requests.
US salaries trump the rest.
Bringing in $136K on average, software engineers in San Francisco continue to be offered the highest salaries in the US, followed by Seattle and Los Angeles. Salaries for software engineers are also increasing in every US market outside of San Francisco and Washington, DC, dropping by 1 percent and 5 percent respectively. Keeping cost of living in mind, here were the average salary offers for software engineers across the US in Q2:
- SF Bay Area: $135,853 (down 1%)
- Seattle: $128,268 (up 3%)
- Los Angeles: $124,200 (up 2%)
- New York: $123,415 (up 1%)
- Denver: $119,214 (up 2%)
- Boston: $118,789 (stable)
- Austin: $115,035 (up 4%)
- Chicago: $110,410 (up 4%)
- Washington, DC: $110,389 (down 5%)
- San Diego: $108,625 (up 1%)
Software engineers considering a move abroad may want to think about the salary implications, with salary offers as much as 48 percent less outside the US. In Q2, software engineers in the US earned an average of $129K, but that drops to an average of $80K in the UK, $62K in France and $67K in Canada.
A LOOK AT WHO’S HIRING
Early stage companies are going through an unexpected increase in hiring.
Despite chatter around the tightening funding environment, early-stage companies increased their interest in hiring new talent in Q2, and even more so than major corporations. Seed companies sent 24 percent more interview requests, while major corporations sent 13 percent more. The good news is that companies at every stage have increased the number of interview requests they’ve sent and initial salary offers have increased by 6 percent overall.