Science & Technology
How Can I Navigate the Current Job Market in the Technology Sector?
Written by CPE Brooke
Hey folks - congratulations on (almost) wrapping up another semester! I wanted to share some information on the current outlooks for technology-adjacent jobs, how to navigate a fluctuating job market, and talk about why this should matter to you! I want to preface this all by saying that while job trends in this field have been not-so-joyful to talk about, the technology sector is still (arguably) the sector with the highest demand for jobs, a great outlook for jobs being created as new technology arises, and simply has followed an almost universal trend of decline since the pandemic (like so many other fields). Even when it might feel scary, you are not alone!
Current Outlooks
Do you want the bad news or the good news first, my friend? “The bad news Brooke, let’s get this over with.” Alright, here it is: according to the February 2024 US Labor Market Update, we have seen tech-related job postings drop by 25% from pre-pandemic levels, and a 2.7% decline alone from the first few months of 2024. Okay - let’s leave the negatives there. What’s the good news? You are finishing your undergrad in a time where (from 2021-2031, per the Bureau of Labor Statistics), jobs for software developers will grow by 25% and jobs for data scientists will grow by 35%, well above the average 5% growth rate. Web developers and digital designers are projected to see a 16% job growth from 2022 to 2032 (Promineo Tech). Not only are you starting your career in a time of massive industry growth, but also in a world where we see new specializations (i.e. quantum computing and bioinformatics) being created for you everyday! Websites like Stillhiring.today are great resources to find companies who are currently known to be hiring, and they provide information like “hiring software engineering/data scientist, etc.”, conveniently color coded for you to skim your heart away for the role that you are looking for!
Per RippleMatch, we also see that there are certain times that companies tend to look for interns/entry level employees. They found that 44% of all STEM roles listed on their platform were accepting applications during October, consistently dropping through the rest of the academic year before seeing an uptick in August. They also found that October was the popular month for financial/insurance industries and engineering industries, and that there is a significant skew for applications being open towards early Fall (September/October) in software/IT roles and consulting industries. Further, they saw that education adjacent job postings peak in the Spring, and entertainment/media and marketing/communication industries skew towards the end of Winter (around February). How can we use this to our advantage, Brooke? Ah, we will get there in just a minute - promise! RippleMatch also found their events focused on recruiting early career peaked in September, which makes sense when we consider October is big application time!
What Can I do About it?
In the short term, we can use this information to your advantage greatly! Don’t worry - we will talk about the long term, too. If you are worrying about not having a job/internship secured by the time you walk (assuming you are graduating this Spring), or don’t have a Summer plan (for folks that will be here again in the Fall), we can still make the Summer useful! Look back in your inbox for the April 11 Science & Tech Newsletter for more in-depth info on sharpening your skills on your own time. We briefly talked about uzing personal projects, micro-internships, and online certification/education courses to develop your skills further and help fill any resume gaps! If you don't know how to get started on this, schedule a career advising appointment today!
For folks graduating soon (CONGRATULATIONS!), consider practicing your skills on your own time, enjoying your Summer, and stacking some dough working at home while you continue to network and apply for jobs - knowing that more will continue to come out throughout the summer and will start to ramp up heavily toward the end of summer early fall if you haven't landed something by then.
For folks graduating next Spring/anyone looking to apply for jobs that will start sometime after Spring 2025, let’s talk about using the trends discussed above to your advantage! We see peak recruiting events in September, so come August, create a list or spreadsheet for yourself from events going on on grounds you can find many UVA & employer events in Handshake! Follow your favorite companies/people that inspire your career aspirations on LinkedIn and monitor their pages for events, too.
If you want to chat about navigating career fairs and events or resumes/interviews, stop by drop ins (Thursdays are Science and Tech days at Clem) or set up an appointment with our Science and Tech counselor, Hannah Pede. Over the summer, you can still schedule a virtual or in-person career advising appointment! After you think through the Fall application cycle (the skew we see towards consulting, software engineering, IT roles), start preparing for the Spring cycle (the skew we see towards education, media, marketing, etc).
But Brooke, I'm a software developer…what does education and media have to do with me? Alas! Education industries have technology that needs folks like you, too! Especially now, when schools are utilizing technology more and more in the classroom. Same thing with media, marketing, and every other field: we live in a world where technology is being integrated into every field, and that is the beauty of your passion for tech! Per the February 2024 US Labor Market Update, we saw a huge increase after 2020 in sectors adjacent to healthcare and civil engineering which couldn't function without folks behind the scenes growing tech advances with the industries themselves! Promineo Tech also found that while the layoffs in big tech have been newsworthy, tech workers in financial services, healthcare, manufacturing, government, and beyond have not seen large layoffs recently. What’s the point, Brooke? Get to the punchline already! My point, friends, is that you got this - there are so many ways to network and finesse your way into a role that will change your life, you just have to find it!
Where to go from here
Overall, the completion of a school year, and definitely graduation, come with excitement and uncertainty in turn. You are not alone in your feelings, either way. I have no doubt that you will succeed and do amazing things. While headlines of news articles and industry trends may look scary at first glance, focus on the positives, and work on the things you can control - building your skill set, connecting with employers and alumni, showcasing your skills and experience. Be patient, be proud of yourself, and enjoy the ride! No matter when your dream job comes take your time and remain confident. Know that we are here to support, you go this, my friend!