"What goes up, must come down. After a huge boom in the tech industry due to the 2020 pandemic, many big-name companies in Silicon Valley are seeing a massive drop in their valuation in the first and second quarters of 2022. Inflation, paired with the fallout from an industry-wide over-zealous hiring spree in 2020–2021, has many ‘unicorn’ companies, such as Robinhood and Amazon, already announcing or making layoffs. \nThis shift in the usually thriving tech space is making headlines, and engineers may be wondering what this means for the job market. Headlines will have you believe there is a widescale economic slowdown, but this isn’t necessarily the case. Instead, larger corporations are using these economic conditions as motivation to transition from hypergrowth to efficient growth. \nIn the words of Uber’s CEO, Dara Khosrowshahi, more companies are treating hiring “like a privilege.” While this sentiment doesn’t pervade the entire industry, it seems to be a recurring theme for other Fortune 500 companies.\nBig-Name Companies\nMany other tech giants are following suit in slowing or pausing recruiting; Meta is another big name considering freezing all hiring for the remainder of the year. With rising gas prices, slow revenue growth, and falling stock prices, layoffs are not out of the realm of possibility for many big companies. Netflix recently dropped 150 staffers due to its current valuation drop. Coinbase, which once planned to triple its employee total, now announces they are slowing hiring and reassessing company goals. Robinhood has already let go of 9% of its workforce. In short, now may not be the best time for engineers to pursue working for Fortune 500s, as acquiring new talent simply isn’t on these giants’ priority list. Here’s a quick list of companies that have made it known that their focus is not currently on hiring:\nMeta\nBetter.com\nRobinhood\nNetflix\nPeloton\nCameo\nWells Fargo\nNoom\nOn Deck\nCoinbase\nWorkrise\nAirbnb\nInstacart\nGroupon\nWith so much uncertainty in the economy, C-suites concern themselves more with future stability. For more information on company layoffs (which are often a good indicator of hiring practices as well), see this public layoff tracker.\nhttps://twitter.com/DiMartinoBooth/status/1542914107111784451\n\nMid and Small-Sized Companies\nReading current headlines will have you believe the tech industry's bubble may have finally burst, but this isn’t the case. Smaller companies are having a moment in the sun as they are less concerned with accommodating shareholders and demand and more concerned with their employees and growth. \nMost notably, freelancer sites have been (and continue) to thrive in the age of remote work. Companies like Upwork, UpStack, and Lili connect freelancers with clients and continue to hire consistently. Lili specifically intends to double in size. Unlike Meta, other media companies such as Spotify continue to hire for new ventures: particularly, Spotify (and many others) is looking for Web3 engineering candidates to dive into the newest wave of innovation.\nAnother product type that continues to do well is chat/communication platforms. Discord is in high growth mode after growing in popularity consistently over the last two years; they plan to grow the team to around 1500 (their current headcount sits around 700). It’s easy to see that the hiring freeze prevalent in large companies hasn’t trickled down to all other tech companies in the valley, or at least not yet. To find start-ups that are looking for more engineering talent, check out sites like Angel List that will connect you directly with companies looking for your skillset.\nNotable Industry Trends\nTo better understand the specifics of the software engineering market, Hired (an intelligent job marketplace) collected data from over 2,000 candidates in the tech space. Here’s a list of the most significant findings:\nGo is the most in-demand skill for software engineers\nThe next-most in-demand skills for engineers are Ruby on Rails, Scala, Ruby, and React Native\nThe most in-demand skills for engineering managers are Ruby on Rails, Scala, and AWS\nThe most in-demand engineering roles are Full Stack Engineers and Backend Engineers\nThe USA offers the most competitive salaries for software engineers\nStartups are seeing more investment and growth – therefore, smaller companies have accelerated remote hiring trends\nSecurity Engineers have the highest salary of all engineers\nThe top skills for Security Engineers are Python, Java, and AWS\nRemote salaries continue to increase\nThe average engineering salary in small companies is $155,423\nThe average engineering salary in mid-market businesses is $158,241\nThe average engineering salary in enterprise companies is $155,015\nYou can see the report here. As you can see, the tech market is not cooling off across the board; many smaller companies continue to hire aggressively for the time being, but this could change as the economy fluctuates.\n\nhttps://twitter.com/dhdeans/status/1513487791002468356\n\nConclusion\nIn short, you should know that big-name companies are focusing less on hiring and growth. Not every Fortune 500 is on a hiring pause, but it’s worth checking to see if the company you’re looking to work for is currently slowing its growth. If you’re interested in pursuing a new position at a smaller or mid-sized company, now might be the perfect time to do so. Start-ups in particular are more funded than ever before and are continuing to hire aggressively, unlike their corporate counterparts. If you’re a Security, Backend, or Full-Stack Engineer, you’re in extra luck, as these roles are currently the most sought-after in the industry.\nWith near-global political unrest and economic instability, it can feel daunting to enter the job market once again. That said, the Great Resignation is finally reaching an end, and some companies are looking to fill empty positions. Remote salaries have continued to rise, particularly in the USA, and now is the perfect time to capitalize on that."

What goes up, must come down. After a huge boom in the tech industry due to the 2020 pandemic, many big-name companies in Silicon Valley are seeing a massive drop in their valuation in the first and second quarters of 2022. Inflation, paired with the fallout from an industry-wide over-zealous hiring spree in 2020–2021, has many ‘unicorn’ companies, such as Robinhood and Amazon, already announcing or making layoffs. 

This shift in the usually thriving tech space is making headlines, and engineers may be wondering what this means for the job market. Headlines will have you believe there is a widescale economic slowdown, but this isn’t necessarily the case. Instead, larger corporations are using these economic conditions as motivation to transition from hypergrowth to efficient growth. 

In the words of Uber’s CEO, Dara Khosrowshahi, more companies are treating hiring “like a privilege.” While this sentiment doesn’t pervade the entire industry, it seems to be a recurring theme for other Fortune 500 companies.

Many other tech giants are following suit in slowing or pausing recruiting; Meta is another big name considering freezing all hiring for the remainder of the year. With rising gas prices, slow revenue growth, and falling stock prices, layoffs are not out of the realm of possibility for many big companies. Netflix recently dropped 150 staffers due to its current valuation drop. Coinbase, which once planned to triple its employee total, now announces they are slowing hiring and reassessing company goals. Robinhood has already let go of 9% of its workforce. In short, now may not be the best time for engineers to pursue working for Fortune 500s, as acquiring new talent simply isn’t on these giants’ priority list. Here’s a quick list of companies that have made it known that their focus is not currently on hiring:

With so much uncertainty in the economy, C-suites concern themselves more with future stability. For more information on company layoffs (which are often a good indicator of hiring practices as well), see this public layoff tracker.

https://twitter.com/DiMartinoBooth/status/1542914107111784451

Reading current headlines will have you believe the tech industry's bubble may have finally burst, but this isn’t the case. Smaller companies are having a moment in the sun as they are less concerned with accommodating shareholders and demand and more concerned with their employees and growth. 

Most notably, freelancer sites have been (and continue) to thrive in the age of remote work. Companies like Upwork, UpStack, and Lili connect freelancers with clients and continue to hire consistently. Lili specifically intends to double in size. Unlike Meta, other media companies such as Spotify continue to hire for new ventures: particularly, Spotify (and many others) is looking for Web3 engineering candidates to dive into the newest wave of innovation.

Another product type that continues to do well is chat/communication platforms. Discord is in high growth mode after growing in popularity consistently over the last two years; they plan to grow the team to around 1500 (their current headcount sits around 700). It’s easy to see that the hiring freeze prevalent in large companies hasn’t trickled down to all other tech companies in the valley, or at least not yet. To find start-ups that are looking for more engineering talent, check out sites like Angel List that will connect you directly with companies looking for your skillset.

To better understand the specifics of the software engineering market, Hired (an intelligent job marketplace) collected data from over 2,000 candidates in the tech space. Here’s a list of the most significant findings:

Go is the most in-demand skill for software engineers

The next-most in-demand skills for engineers are Ruby on Rails, Scala, Ruby, and React Native

The most in-demand skills for engineering managers are Ruby on Rails, Scala, and AWS

The most in-demand engineering roles are Full Stack Engineers and Backend Engineers

The USA offers the most competitive salaries for software engineers

Startups are seeing more investment and growth – therefore, smaller companies have accelerated remote hiring trends

Security Engineers have the highest salary of all engineers

The top skills for Security Engineers are Python, Java, and AWS

The average engineering salary in small companies is $155,423

The average engineering salary in mid-market businesses is $158,241

The average engineering salary in enterprise companies is $155,015

You can see the report here. As you can see, the tech market is not cooling off across the board; many smaller companies continue to hire aggressively for the time being, but this could change as the economy fluctuates.

https://twitter.com/dhdeans/status/1513487791002468356

In short, you should know that big-name companies are focusing less on hiring and growth. Not every Fortune 500 is on a hiring pause, but it’s worth checking to see if the company you’re looking to work for is currently slowing its growth. If you’re interested in pursuing a new position at a smaller or mid-sized company, now might be the perfect time to do so. Start-ups in particular are more funded than ever before and are continuing to hire aggressively, unlike their corporate counterparts. If you’re a Security, Backend, or Full-Stack Engineer, you’re in extra luck, as these roles are currently the most sought-after in the industry.

With near-global political unrest and economic instability, it can feel daunting to enter the job market once again. That said, the Great Resignation is finally reaching an end, and some companies are looking to fill empty positions. Remote salaries have continued to rise, particularly in the USA, and now is the perfect time to capitalize on that.

State Of The Engineering Hiring Market 

<p>What goes up, must come down. After a huge boom in the tech industry due to the 2020 pandemic, many big-name companies in Silicon Valley are seeing a massive drop in their valuation in the first and second quarters of 2022. Inflation, paired with the fallout from an industry-wide over-zealous hiring spree in 2020–2021, has many ‘unicorn’ companies, such as Robinhood and Amazon, already announcing or making layoffs.&nbsp;</p>
<p>This shift in the usually thriving tech space is making headlines, and engineers may be wondering what this means for the job market. Headlines will have you believe there is a widescale economic slowdown, but this isn’t necessarily the case. Instead, larger corporations are using these economic conditions as motivation to transition from hypergrowth to efficient growth.&nbsp;</p>
<p>In the words of Uber’s CEO, Dara Khosrowshahi, more companies are treating hiring <em class="italic">“like a privilege.” </em>While this sentiment doesn’t pervade the entire industry, it seems to be a recurring theme for other Fortune 500 companies.</p>
<h2><strong class="font-bold">Big-Name Companies</strong></h2>
<p>Many other tech giants are following suit in slowing or pausing recruiting; Meta is another big name considering freezing all hiring for the remainder of the year. With rising gas prices, slow revenue growth, and falling stock prices, layoffs are not out of the realm of possibility for many big companies. Netflix recently dropped 150 staffers due to its current valuation drop. Coinbase, which once planned to triple its employee total, now announces they are slowing hiring and reassessing company goals. Robinhood has already let go of 9% of its workforce. In short, now may not be the best time for engineers to pursue working for Fortune 500s, as acquiring new talent simply isn’t on these giants’ priority list. Here’s a quick list of companies that have made it known that their focus is not currently on hiring:</p>
<ul>
  <li>Meta</li>
  <li>Better.com</li>
  <li>Robinhood</li>
  <li>Netflix</li>
  <li>Peloton</li>
  <li>Cameo</li>
  <li>Wells Fargo</li>
  <li>Noom</li>
  <li>On Deck</li>
  <li>Coinbase</li>
  <li>Workrise</li>
  <li>Airbnb</li>
  <li>Instacart</li>
  <li>Groupon</li>
</ul>
<p>With so much uncertainty in the economy, C-suites concern themselves more with future stability. For more information on company layoffs (which are often a good indicator of hiring practices as well), see this <a href="https://layoffs.fyi/" target="_blank" rel="noopener noreferrer"><u>public</u></a> layoff tracker.</p>

          <div style="display: flex; justify-content: center;">
            <blockquote class="twitter-tweet"><p lang="en" dir="ltr">&quot;This may be one of the worst downturns we&#39;ve seen in recent history&quot;<br><br>“I can’t make permanent ongoing promise...we won’t have to reconsider (job cuts)&quot;<br><br>Mark Zuckerberg on <a href="https://twitter.com/Meta?ref_src=twsrc%5Etfw">@Meta</a> plans to cut engineering openings from 10k to 6k &amp; weed out underperformers <a href="https://t.co/oRvnMEBHKR">https://t.co/oRvnMEBHKR</a></p>&mdash; Danielle DiMartino Booth (@DiMartinoBooth) <a href="https://twitter.com/DiMartinoBooth/status/1542914107111784451?ref_src=twsrc%5Etfw">July 1, 2022</a></blockquote>

          </div>
        
<p><br></p>
<h2><strong class="font-bold">Mid and Small-Sized Companies</strong></h2>
<p>Reading current headlines will have you believe the tech industry's bubble may have finally burst, but this isn’t the case. Smaller companies are having a moment in the sun as they are less concerned with accommodating shareholders and demand and more concerned with their employees and growth.&nbsp;</p>
<p>Most notably, freelancer sites have been (and continue) to thrive in the age of remote work. Companies like Upwork, UpStack, and Lili connect freelancers with clients and continue to hire consistently. Lili specifically intends to double in size. Unlike Meta, other media companies such as Spotify continue to hire for new ventures: particularly, Spotify (and many others) is looking for Web3 engineering candidates to dive into the newest wave of innovation.</p>
<p>Another product type that continues to do well is chat/communication platforms. Discord is in high growth mode after growing in popularity consistently over the last two years; they plan to grow the team to around 1500 (their current headcount sits around 700). It’s easy to see that the hiring freeze prevalent in large companies hasn’t trickled down to all other tech companies in the valley, or at least not yet. To find start-ups that are looking for more engineering talent, check out sites like <a href="https://angel.co/" target="_blank" rel="noopener noreferrer"><u>Angel List</u></a> that will connect you directly with companies looking for your skillset.</p>
<h2><strong class="font-bold">Notable Industry Trends</strong></h2>
<p>To better understand the specifics of the software engineering market, Hired (an intelligent job marketplace) collected data from over 2,000 candidates in the tech space. Here’s a list of the most significant findings:</p>
<ul>
  <li>Go is the most in-demand skill for software engineers</li>
  <li>The next-most in-demand skills for engineers are Ruby on Rails, Scala, Ruby, and React Native</li>
  <li>The most in-demand skills for engineering managers are Ruby on Rails, Scala, and AWS</li>
  <li>The most in-demand engineering roles are Full Stack Engineers and Backend Engineers</li>
  <li>The USA offers the most competitive salaries for software engineers</li>
  <li>Startups are seeing more investment and growth – therefore, smaller companies have accelerated remote hiring trends</li>
  <li>Security Engineers have the highest salary of all engineers</li>
  <li>The top skills for Security Engineers are Python, Java, and AWS</li>
  <li>Remote salaries continue to increase</li>
  <li>The average engineering salary in small companies is $155,423</li>
  <li>The average engineering salary in mid-market businesses is $158,241</li>
  <li>The average engineering salary in enterprise companies is $155,015</li>
</ul>
<p>You can see the report <a href="https://hired.com/2022-state-of-software-engineers/?utm_source=pr&amp;utm_medium=content&amp;utm_campaign=(a-all)(l-all)(r-all)(sose-press-release-mar-2022)" target="_blank" rel="noopener noreferrer"><u>here</u></a>. As you can see, the tech market is not cooling off across the board; many smaller companies continue to hire aggressively for the time being, but this could change as the economy fluctuates.</p>
<p><br></p>

          <div style="display: flex; justify-content: center;">
            <blockquote class="twitter-tweet"><p lang="en" dir="ltr">2022 State of <a href="https://twitter.com/hashtag/Software?src=hash&amp;ref_src=twsrc%5Etfw">#Software</a> Engineers: The pandemic shelter-in-place and work-from-home policies continue to expand opportunities for Remote Tech workers to pursue roles (and salaries) outside of their current location or cost of living standards <a href="https://t.co/OMFmOISYZP">https://t.co/OMFmOISYZP</a> - <a href="https://twitter.com/hashtag/trends?src=hash&amp;ref_src=twsrc%5Etfw">#trends</a> <a href="https://t.co/wZBDouivjK">pic.twitter.com/wZBDouivjK</a></p>&mdash; David H. Deans 🌐 (@dhdeans) <a href="https://twitter.com/dhdeans/status/1513487791002468356?ref_src=twsrc%5Etfw">April 11, 2022</a></blockquote>

          </div>
        
<p><br></p>
<h2><strong class="font-bold">Conclusion</strong></h2>
<p>In short, you should know that big-name companies are focusing less on hiring and growth. Not every Fortune 500 is on a hiring pause, but it’s worth checking to see if the company you’re looking to work for is currently slowing its growth. If you’re interested in pursuing a new position at a smaller or mid-sized company, now might be the perfect time to do so. Start-ups in particular are more funded than ever before and are continuing to hire aggressively, unlike their corporate counterparts. If you’re a Security, Backend, or Full-Stack Engineer, you’re in extra luck, as these roles are currently the most sought-after in the industry.</p>
<p>With near-global political unrest and economic instability, it can feel daunting to enter the job market once again. That said, the Great Resignation is finally reaching an end, and some companies are looking to fill empty positions. Remote salaries have continued to rise, particularly in the USA, and now is the perfect time to capitalize on that.</p>

Talent & Hiring

State Of The Engineering Hiring Market

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