Despite downturn in the tech job market, the demand for software engineers remains high, according to a report released by interviewing company, Karat. The report noted that the demand has been growing in the U.S.
Per its ‘Hiring Trends Report’, over half of the leaders who were part of the survey said that qualified engineers were worth at least three times their total compensation, which is 10 percentage points or between 45% and 55% more than compared to 2020, the peak of tech job market.
Karat surveyed more than 700 software engineers and leaders in both the U.S. and India.
Software engineers are seen as an important resource to drive organisational success, with 62% of engineering leaders believing that software engineers will contribute to the company’s success. The report also marked data analysts, cloud architects, and data engineers as the three most in-demand roles in 2023.
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Jeffrey Spector, co-founder and president of Karat noted that the best ways to attract talent is to “hire fast, hire fair, and give more candidates an opportunity to show you what they can do.”
But despite the boom in AI and more specific sectors, 45% of the top performing leaders tend to hire more general roles in software engineering. Almost half or 45% of these top performers are looking for software generalists, and one-third or 34% of them are looking for full-stack developers.
“The real world is messy, and real-life engineering problems rarely have specific solutions, so we need to assess candidates’ ability to navigate uncertainty, ambiguity, and complex multi-dimensional trade spaces,” David Lau, VP of software engineering at Tesla noted.
