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NEW YORK – When tech giants like Amazon grow, other companies are not afraid of losing customers. They are also afraid to hang on to their employees.
Some of the sectors that have defined New York and the Washington, DC area will face increased competition for talent when Amazon moves into its territory, with the intention of recruiting 50,000 new workers into the market. the most restricted job of decades.
This expansion comes at a time of high demand for programmers, mobile application developers, data scientists and cybersecurity experts. Salaries are steadily increasing as companies from banks to retailers look for new technology professionals to expand their online presence and automate their operations. Software developers, particularly in demand, perform many switching jobs every year. Even some banks have relaxed their dress codes to give a more fashionable image.
"It's a very competitive market in New York," said William Lynch, president of New York-based fitness technology company Peloton. "It really requires you to be smart in the way you reach the new hiring pipeline."
In the United States, employment in technology has grown by an average of 200,000 new jobs each year since 2010, a trend that is expected to continue for at least the next decade, according to an industry report by Computing Technology Industry. Association, or CompTIA, which analyzes job data and other sources. The figure includes all people employed by high tech companies, as well as high tech professionals from other industries.
In New York, the big banks are among the largest employers of IT professionals. J.P. Morgan Chase employs 50,000 people in the technology sector and hired his first Artificial Intelligence Research Manager in May. Goldman Sachs said that a quarter of its employees hold positions related to engineering. Amazon's traditional competitors are striving to expand their online businesses and develop new technologies to improve their operational efficiency.
But young professionals flock to technology companies, attracted by the idea of changing the way people do everything from home buying to exercise.
"In the past, the traditional career path was financial services, investment banking and consulting. We are now seeing a renewed interest in technology companies, "said Dan Wang, a professor of commerce and sociology at Columbia University.
A rental party coming soon
Amazon will begin recruiting in a few months for its two new headquarters in Long Island City, New York, and Arlington, a suburb of Washington. She is looking for talent to support an empire that has expanded to include cloud computing, advertising, video streaming and television production. The company plans to hire around 25,000 people over several years for each site. The average salary will be about $ 150,000 a year.
Amazon's relocation is just the most dramatic example of the expanding technology companies on the East Coast. Instagram has opened a new office in New York during the summer and plans to hire hundreds of engineers. It looks like Google is looking to add 12,000 additional employees to New York.
Amazon, now 24, will face the burgeoning startup scene in New York, where venture-investing companies are giving young people big roles and the opportunity to create new industries.
Peloton announced Monday its intention to move to a larger headquarters in downtown Manhattan in 2020. The fitness technology company, which received a new investment of $ 550 million in August, will recruit thousands of Lynch people, president of the company, said the next few years, especially in the areas of technology, marketing and sales. There are currently nearly 100 open positions in New York.
"We know Amazon and it's great for New York. But Google has been here. We have been hiring against Google for a long time, "said Lynch.
The race for talent goes beyond technology workers. Technology companies employ more than 3.7 million people in support roles such as marketing and financing, according to CompTIA.
This panorama is a priority for people like Dimple Bansal, a business student at Columbia University who focuses her studies on technology strategy. Last spring, she did an internship at Airbnb and during the summer she did an internship at Google.
"Technology is a growing landscape. I think it's exciting to bridge the gap between pure technology skills and to introduce entrepreneurship into these businesses that touch so many lives, "said Bansal, 27.
Financial institutions have stepped up their recruitment strategies by trying to present their businesses as innovation poles for products ranging from mobile apps to AI solutions for fraud reduction.
J.P. Morgan announced plans to open a financial technology campus in the California Bay Area earlier this year.
Wang, professor Columbia, said new fashion brands could benefit from partnerships if Amazon ran its New York site to enter the luxury market. But Wang said that this could mean competition between workers like its competitors, Jet.com, owned by Walmart, which currently offers job offers to dozens of engineers in its head office located in the New Jersey, on the other side of the Hudson River from New York.
"If I worked at Jet.com, I would be very tempted by Amazon," said Wang.
Keep employees
As technology companies grow, young professionals can be demanding about where they live, which also spurs companies like Amazon into fashionable urban centers.
Based on an analysis of revisions to job postings made on their online professional network, LinkedIn has calculated that 13% of software workers leave their employer for another job each year.
While they may retain their employees, some of the smaller companies may be struggling to attract the new talent needed to expand, said Carrie Duarte, partner and leader of the future workforce at PwC. Their best bet is to brag about the chance of being a big fish in a small pond, she said.
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