Looking for a new Tech Job? Your Lucky Day
Two months ago, Jacob Eiting closed Series B for his startup RevenueCat, creating a platform for managing in-app subscriptions. The $ 40 million investment is intended to grow the company and, importantly, to hire more people. The 35-person start-up is expected to expand to 50 employees by the end of the year, and 100 by the end of next year. To settle them, RevenueCat offers a number of perks – unlimited vacation, a home office fee – plus the same reason and salary as some big tech companies, regardless of geography.
Such offers were less common in the beginnings two years ago, before the pandemic. Now a competitive marketing market is pushing wages higher, maximizing benefits, and encouraging companies to offer jobs more quickly to job candidates. “Part of it is like,‘ How can we stand up against the Google’s in the world? ’” As Eiting said. “We take advantage of the strengths we have. We’ll pay well if you’re not in the Bay Area – that’s our recognition. ”(Google, along with other big tech companies, says it can lower the salary for remote workers.)
Like RevenueCat, startups around the world are in expansion mode. The first half of 2021 marks a global record for capital investment spending, with $ 288 billion invested in startups around the world. For most of them, the influx of money means an influx of employees, which has caused a surge in the number of available jobs to start. Engineers and software developers, who are always in need, can now write their own reviews.
It’s not just beginnings either. In the first quarter of 2021, overall tech job posting rose 16 percent, according to a report from Dice, an industry career database. As large tech companies continue to grow, one -year Zoom, telehealth, and restaurant menu meetings with QR codes are increasing the demand for software programmers and engineers more broadly. Between March and July, there were more than 323,000 job openings for software engineers, courtesy of analytics firm Emsi Burning Glass, following job growth and job trends. That’s 13 percent higher than in 2016. Postings for other tech jobs, such as data engineers, have grown 312 percent over the past five years, suggesting even more interest among work over time.
All of this makes what Silicon Valley audiences call the largest acquisition market since the dotcom boom in the 1990s. “The engineering market is gaining competition,” said Justine Moore, an investor who manages job board on Pallet to offer opening to VC startups and firms. “I’ve seen a lot of startups offering bonuses for referrals. I’d say $ 10,000 is usually a referral fee, but I’ve heard of people going up to $ 50,000.”
Other startups use more creative tactics to find referrals, or at least to distinguish themselves among other job postings. A beginning of the seed stage posted on board Moore’s Pallet offering four tarot readings, two boxes of succulents, a giant piñata of “mysterious things,” plus a $ 3,000 cash prize, for anyone aiming for a job candidates who remain with the company for at least six months. Another start offers a one -year supply of cookies from Levain Bakery to referrals. (A gift box of four signature bakery chocolate walnut treats sold for $ 27 online—Or $ 6.75 per cookie.) On Twitter, the founder of a mobile game company offered to “personally pay a Bitcoin” – that’s $ 44,500 – for a referral that resulted in a lease.
A year ago, job seekers preferred the strength of Big Tech over startups, which experienced a much greater pandemic risk, but small companies could have an impact in today’s market. In a study, looking at AngelList searches between February and May of 2020, found that job candidates were 20 percent more likely to apply for jobs at companies with more than 500 employees, such as Apple and Google. Today, many job seekers prioritize the recovery and benefits of remote work, according to a recent study. survey of US -based tech employees. That survey also found that technologists experienced high levels of burnout in the past quarter, and that 48 percent are interested in changing companies this year-up from 32 percent in the same time last year. .
Small companies may have the opportunity to gain some transfer skills, by offering things that job seekers say they care most about right now. “Startups have become more enthusiastic about targeting other companies that may be interesting areas to take over,” said Hunter Walk, partner of seed-stage VC fund Homebrew. As CEOs come up with new ways of working from the office, or talking about societal issues during work, there is natural interference from people who disagree. For startups, Walk said, there is an opportunity to recruit individuals. “What I’ve seen is that a lot of candidates are thinking about a mission they want to be a part of, or the culture of the company they work for, and that’s a lot more reason to make decisions.”