You hear bad economic news everywhere. Unemployment is high. Economists forecast weak growth. Pessimism abounds. Beyond the numbers, you draw on your personal experience. You saw people let go during the recession. You feel fortunate to have a job. The best move is to stay in your stable job, right? Maybe not. For engineers and other technologists, the perception of a down market does not match the reality of an incredibly active technology market.
Tech Demand is High
As a recruiter, I can tell you first hand that demand for top tier technical talent is high in New York City. Despite a negative perception of the economy, the challenge isn’t finding jobs, it’s finding enough talented technologists to meet the demand. This demand springs from three job markets growing simultaneously: financial services, established companies leaning heavily on technology, and the vibrant startup scene.
New York is perhaps best known for the financial services industry. The industry is re-emerging, and high salary tech jobs are emerging with it. This is important in two ways. First, it increases the number of tech positions available. Second, the demand forces other markets to move more aggressively with hiring and compensation. This is great news for you as a potential job candidate.
Established Technology Drivers
New York has rich offerings beyond the financial services industry. A variety of companies are using technology to engage consumers. It’s all here, and they all need tech pros. Also, many companies are seeking candidates with strong core computer science fundamentals, and they are willing to invest in training if they feel the candidate is right for their team. In other words, opportunity is out there in well established companies growing their technology businesses.
The startup market in NYC may be the most active and exciting vertical at the moment. Every day, New York City’s startup community gets stronger. In 2010, New York City raised $2.1 billion for 341 deals, while Boston raised $2.2 billion for 273 deals, according to Dow Jones. This is the first time NYC has ever passed Boston in total number of VC deals. NYC has done this with a massive grass roots effort which has captured the attention of the VC community. Heavy hitters like Accel Partners, Matrix Partners and Canaan Partners, among others, all opened offices in NYC last year.
Fortunes are being made as companies are sold and then re-invested into new startups. Tacoda, Quigo and DoubleClick are all examples of companies whose founders have sold, then moved on to start new companies and fund others like SimulMedia and Tracked.com.
The population density of New York City has also led companies like FourSquare to set up shop in order to capitalize on the geospatial intelligence and data they can mine through crowd sourcing. This same population makes up the strongest tech community in the US. This population makes it easy to organize a quick meetup to discuss emerging trends in NYC. Companies are taking notice of this emerging tech population and are starting to open up new offices in NYC; Google, Facebook and Meebo are all starting to grow their NYC presence. In fact, Google just bought one of Manhattan’s largest buildings (the only building to cover one square block in the city.) Everything is in place for New York City’s startups to succeed, and hardworking technologists have the opportunity to build their tech chops and position themselves for future success.
The Time is Right
Educating potential candidates about the reality in this job market is something I do every day. It is dynamic and unique compared to other sectors of the market, particularly in New York. I understand many people are proceeding with caution, but I would encourage you not to let the past delay your future. The reality for the technology community in New York City really is different than what you hear in the headlines across the country. We are all fortunate because demand for strong technical talent is high across three massive industries. Explore your options.
Kainne Hansbury is a Principal in Winter, Wyman’s Software and Technology division. Kainne started his career working in software development but has been with Winter, Wyman since 2007 helping candidates in New York City as they make their next career move. To learn more about Kainne and the software and technology jobs he is working on visit www.winterwyman.com.
(Visited 296 time, 1 visit today)