Is it worth your while to switch jobs in 2023?

We’re not out of the first month of 2023 and already, tech layoffs are coming thick and fast. Layoffs.fyi reports that so far, 122 tech companies have laid off 37,526 employees. That includes Amazon, which is shedding 8,000 of its headcount, and Coinbase, which is letting go 950 workers.

Last week Microsoft announced that it would also reduce its workforce by 10,000 people this year. Google announced last week its plans to lay off 12,000 of its workforce. On 4th January, Salesforce’s CEO Marc Benioff announced in a company memo that it too, would be laying off 10% of the company’s total staff.

“I’ve been thinking a lot about how we came to this moment,” Benioff wrote. “As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing.”

Tech had a great pandemic: Meta, for example, had a headcount of around 58,000 in 2019. The company aggressively added numbers and its staffing was 87,000 by the third quarter of 2022. But Mark Zuckerberg, too, has said that Meta hired too fast in the high-growth pandemic years, and it now needs to scale back to improve profitability.

Indicative of corrections

Benioff and Zuckerberg’s comments are indicative of the current environment, and the corrections many tech companies are having to make. However, the bigger picture is that the industry as a whole remains a space with many growth opportunities.

A recent survey found that 96% of workers are looking for a new position this year. Forty-six percent will expect a higher salary due to inflation and the cost of living, with only 11% thinking they will earn less at a new job.

While more money is the biggest motivator, there are other factors too. Just over a third report that there is no room to grow in their current job, and 25% say they are in a toxic workplace.

If money is the motivating factor, the good news is that salaries have risen over the past year. Median weekly earnings were $1,085 in the fourth quarter of 2022, according to the U.S. Bureau of Labor Statistics, representing a 7.4% increase on a year earlier.

Growth areas

Specific jobs and career sectors are experiencing high growth as well, making them solid bets for 2023 job hunters. The Burning Glass Institute analyzed 228 million job ads to find out which jobs are the fastest-growing, and which emerging skill sets are in highest demand.

The resultant report, How Skills are Disrupting Work, found that artificial intelligence (AI)/machine learning (ML), cloud computing, product management and social media are in hot demand.

Other sectors are experiencing growth too, such as data science and blockchain. Glassdoor data has found that the worldwide yearly growth in blockchain job postings was around 300% in 2021.

When it comes to cybersecurity roles, demand far outstrips supply with a global shortage of 3.4 million cybersecurity workers. The U.S. Bureau of Labor Statistics (BLS) says that the number of information security analysts is projected to grow 35% between 2021 and 2031, making it the eighth-fastest-growing occupation in the country.

It all adds up to a positive outlook, so if you’re in the market for a new job there are three to discover below — and thousands more on the VentureBeat Job Board.

Data Scientist, PayPal, Scottsdale

As a Data Scientist within PayPal’s Fraud Defense Cyber Center you will support teams to identify features and data points which can be leveraged to mitigate fraud and prevent future abuse. You’ll operationalize data and lead analytical driven projects which quantify fraud and abuse risk, while staying organized, setting clear goals, and providing clear updates. To apply you will need a college degree, preferably in a quantitative field (math, analytics, computer science), or equivalent work experience or industry certifications. Proficiency in working with large datasets and familiarity with financial fraud and abuse methodologies specific to fintech is also required. Get the full application information here.

Senior Cybersecurity Architect, Wells Fargo Bank, Chandler

Wells Fargo is seeking a Senior Cybersecurity Architect, to focus on providing security architecture and design solutions, vendor and product evaluations, consulting, and education. You will engage and collaborate with application teams to derive an accurate description of their application architectures, model the architectures and apply the bank’s threat modeling methodology to identify and prioritize threats to those applications and to apply mitigating controls. If you have four years’ of systems architecture experience, and three years’ in information security, apply for this position now.

Senior NLP Research Engineer – Artificial Intelligence Group, Bloomberg, New York

As the amount of unstructured data has increased, natural language processing has become a key tool for Bloomberg. The Senior NLP Research Engineer – Artificial Intelligence Group will collaborate with colleagues on production systems and applications, design, experiment, and evaluate algorithms as well as models, and write, test, and maintain production-quality code. You will also be expected to publish research findings in leading academic venues. To apply you will need to have a Master’s or a Ph.D, plus two to five years’ of work experience. Read the full job description.

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