How the IT labor market has changed

Silicon Valley in Turbulence: How the IT Job Market Has Changed

The last few years have been a period of significant changes for the IT labor market in the US and around the world. Mass layoffs, slowdowns in hiring, and general economic instability have created a new reality for IT professionals. To understand the current situation, I spoke with Yulia Tarasova, Recruitment manager (Picsart, XOR, GridGain, etc.), an expert in IT recruitment with over 10 years of experience. I have prepared an article with conclusions, read and save.

Current market situation

The situation on the labour market is still difficult. Despite a small increase in vacancies (about 5% compared to last year) in some areas, the overall picture is far from what it was a few years ago, especially during COVID times.

The most in-demand specialists are those with 3-5 years of experience in the following areas:

– Development in Java, Python, Scala

– Working with data

– Artificial intelligence

At the same time, it has become much more difficult for junior specialists to find work. As Yulia says, companies have become more selective and prefer to hire experts who are able to immediately begin solving complex problems and are not interested in waiting for the employee to learn. Companies are looking for specialists at the Middle+ level and above, who are ready to immediately start working on projects.

It is important to note that the average salary level decreased by 30% compared to last year.

Changing the Job Search Process

The job search process has changed dramatically. If previously it was enough for specialists to post a resume to receive offers, now they have to put in much more effort.

As Julia says:

It is now considered normal in the US to respond to 2,000 job postings to get an offer. The conversion rate to an invitation to an interview with a recruiter is only 1-5%.

Effective Job Search Strategy

Julia recommends using a comprehensive approach to job searching, which includes several key elements:

1. If possible, aim to do about 100 responses per week, especially if you are not a niche specialist or Senior+. It is important to see if there will be a result and if something needs to be changed. Wait 2 weeks. If you do not have at least 2 interviews, then there is clearly something wrong with your resume. I had a client who sent resumes with his family for four months. They sent 10,000 responses and received only two calls from recruiters. No need to wait that long!

2. Carefully craft your resume for the vacancy, using keywords from the job description. How to find keywords: read the vacancy, pay special attention to the domain of your project and the requirements for the candidate. You can use AI tools to find keywords. She notes: “If you are getting automatic rejections right after submitting your resume, it may mean that your CV is not passing through the ATS (Applicant Tracking System).” In this case, it is important for you to work through your resume and add keywords that will help it pass the initial filter.

3. Active networking. It's important not only to meet people on LinkedIn, but also to participate in real events where you can establish personal contact with potential employers. When you meet recruiters on LinkedIn, write catchy emails. For example, one girl started her email with the phrase 'Hi, I'm not a robot, this is a real person writing to you'. This immediately grabs attention.

4. Look for connections at companies you're interested in and ask them to pass your resume on to a recruiter, HR, or hiring manager. If you want to be referred, you need to make it happen. before you apply for a job. Otherwise, you may not be accepted into the referral program.

5. Cover letters are not very common in the United States. Recruiters won't read them if your resume isn't suitable. But if you go through a recommendation, and you're sure you're perfect for the job, a cover letter will be a good addition. The main thing is Don't write template letters. Write something catchy, interesting, in your own style.

6. Prepare thoroughly for technical interviews, study the company and the project you are invited to. Yulia gives an example: “I had a case with a Java developer who received many calls from recruiters, but failed technical interviews. It turned out that he did not prepare for specific questions that are asked in large companies.” This can be avoided, all questions in large companies are publicly available, so you can prepare for them well and pass the interview.

It is important to understand that there is no magic pill for quick employment now. This is a systematic work that can take several months.

Be prepared for a long search. 3-6 months is considered normal. Do not despair if you do not receive an answer right away. Sometimes responses to resumes come a month or a month and a half after sending.

Prepare for the interview

Many candidates fail at the interview stage, even with an excellent resume, experience and technical knowledge. You need to prepare thoroughly, study the company and the project you are invited to. Do not hesitate to ask for additional time to prepare if you are scheduled for an interview the next day.

Don't turn down interviews at companies you're not particularly interested in. It will help you practice interviewing, and who knows, maybe you'll find unexpected growth opportunities there.

Train your soft skills. Many Russian-speaking professionals fail interviews simply because they were unable to clearly express their thoughts, seemed rude, withdrawn, and uninterested in the position.

Against the backdrop of the general decline, there are also positive trends

1. Growing demand for contract workers (not to be confused with freelancers). This can be a good opportunity to gain experience working for an American company remotely, even outside the US.

2. Transferring development to other countries. Large companies like Google are starting to transfer development to Mexico, Ireland, and India. This opens up new opportunities for specialists willing to work remotely.

3. Importance of domain expertise. If you have experience in a specific area, such as developing search engines for e-commerce, this can be your competitive advantage.

Conclusion

Despite all the difficulties, talented specialists are still in demand. The key to success is continuous development of skills, flexibility and readiness to adapt to new realities of the labor market.

While the U.S. IT labor market remains tense, there are still job prospects for those willing to work hard to develop their skills and actively seek out opportunities. The key is to be prepared for a long search, continually improve your skills, and not be afraid to try new approaches to your job search.

About me:

My name is Anna Naumova, I am a career consultant in the USA and Principal Product Manager with over 15 years of experience in IT, ex-PM at Apple, Zello, VK, mentor at Women in Tech, immigrant and ambassador of the Russian-speaking IT community. I have been living in the USA for 8 years in Austin, Texas. I help smart people find work and move to the States.