Technology is a buzzy industry full of exciting opportunities — higher salaries, offices with all the perks, career growth, and innovative work. For many students interested in working in tech, the tech job market might seem like a shining beacon to delve into post-graduation.
But the tech job market is more of a rollercoaster than we may like to admit. The industry is no stranger to layoffs, but with developing fields like cybersecurity and artificial intelligence (AI), new job opportunities exist. So, what’s actually happening in the tech job market right now? What can you do to land a job in tech in 2024?
We looked at job data and spoke to tech professionals to get to the bottom of the tech job market in 2024.
State of the Tech Job Market
To understand the tech job market in 2024, we have to look back into significant changes within the last five years — specifically since the COVID-19 pandemic.
While COVID-19 led to an unprecedented unemployment rate in April 2020, unemployment hit industries that required in-person services the most. Industries like tech, which could far more easily adjust to remote work, weren’t hit quite as hard.
In fact, the tech job market began to soar in late 2020 and 2021. With more people staying at home, demand for online services and shopping grew exponentially — think the Pelotons and Netflixes of the world — and companies needed to hire tech workers to fill the demand. It was a tech professional’s market, with companies offering higher salaries and better benefits to compete for top talent. The average salary for technology professionals reached a record high of $104,566 in 2021.
Yet the hiring influx soon led to a string of layoffs. As people started to return to in-person activities and offices, online companies weren’t experiencing the same boom — and didn’t need the same number of tech workers to sustain their businesses. These layoffs began in 2022 and picked up steam in 2023.
According to Layoffs.fyi, which tracks tech layoffs since COVID-19, companies laid off the most workers in 2023. Over 1,000 companies laid off 264,220 employees, up nearly 60% from 2022.
Tech Layoffs 2024
While the ripple effects of overhiring during the pandemic have slowed, that doesn’t mean the tech job market of 2024 has been without turmoil or layoffs. Since January, 451 tech companies have laid employees off, with 139,206 employees laid off overall.
Tech layoffs in 2024 came from some of the big players, like Intel, Tesla, Google, Meta, Amazon, and Microsoft. Some laid off 10 to 15% of their staff, and some conducted multiple rounds of layoffs throughout the year.
When Will the Tech Job Market Recover?
While layoffs are still happening in 2024, there are new job openings, too — indicating at least a bit of a bounce back from 2023 lows. According to TrueUp, there are well over 200,000 open tech jobs at tech startups, tech unicorns, and public tech companies, up 18% from the beginning of the year.
“In the last six months, there’s been a gradual recovery, particularly in fields such as AI, cybersecurity, and cloud computing, which have seen a surge in demand,” says Elle Farrell-Kingsley, tech presenter and advisor, and instructor at the Arizona College of Technology. “Companies are focusing on digital transformation and automation, but with this comes fierce competition, requiring candidates to be more adaptable and up-to-date with industry trends.”
For example, while artificial intelligence often gets a bad rap for how many jobs it’ll replace, it’s also creating jobs in the tech industry and beyond. There are tens of thousands of artificial intelligence jobs open in 2024, a 32% increase year over year.
Gen AI
Develop a chatbot to assist with financial inquiries with the GenAI team at BCG.
Avg. Time: 3-4 hours
Skills you’ll build: Excel, Python, Jupyter, Data extraction, Financial analysis, NLP, Chatbot development, logic
There’s also a workforce gap in cybersecurity. According to the International Information System Security Certification Consortium (ISC2), the gap between companies looking for cybersecurity professionals and those hired continues to grow; roughly four million cybersecurity professionals are needed worldwide, almost double the number of current professionals.
“While demand for tech talent remains strong, the landscape has become more nuanced,” says Stefano Lodola, owner of Think Languages, an online language learning platform. “Pre-pandemic, companies were heavily focused on rapid expansion and digital transformation. But now, there’s a greater emphasis on efficiency, sustainability, and finding candidates with a versatile skill set who can adapt to changing needs. In the last six months, we’ve seen trends like the rise of AI, the need for cybersecurity, and a move toward hybrid work environments shaping hiring practices.”
Tech Job Outlook
What will the tech job market look like in years to come? According to the U.S. Bureau of Labor Statistics, nearly all tech roles have a positive job outlook from 2022 to 2032, with most having a much faster-than-average job outlook.
| Role | Job Outlook |
| Computer network architects | 13% (much faster than average) |
| Computer support specialists | 6% (faster than average) |
| Database administrators and architects | 9% (much faster than average) |
| Data scientists | 36% (much faster than average) |
| Information security analysts | 33% (much faster than average) |
| Product managers | 10% (much faster than average) |
| Software developers, quality assurance analysts, and testers | 17% (much faster than average) |
| Web developers and digital designers | 8% (faster than average) |
What Tech Job Is Right for Me? Quiz
Learn what tech job is right for you based on your interests, skills, and goals. It’s completely free — you’ll just need to log in or sign up to view your results.
How to Get a Job in Tech in 2024
So, how can you actually land a job in tech in 2024? Given what we know about the current tech job market, here’s how you can stand out.
Build a Portfolio
When you don’t have a lot of work experience to share, it’s more difficult to prove that you can take on the work required in an entry-level tech role — but not impossible.
Instead, focus on building “a strong portfolio of projects that showcases your ability to solve real-world problems,” Lodola says. “Employers want to see applied skills beyond academic knowledge. Contributing to open-source projects, gaining certifications in emerging technologies (like AI or cloud computing), and building a professional network will give you a competitive edge.”
You can build your online portfolio of school projects, independent work, and open-source projects — it doesn’t have to be work you were commissioned for! The point is to demonstrate your technical expertise and initiative so employers can learn what your work is like within your application.
Upskill
The tech job market is ever-changing because the world of tech is ever-changing. There will always be new technologies, skills, and fields to learn and adapt to.
“For students preparing to enter the tech job market in the coming years, it’s essential to focus on both lifelong learning and strategic networking,” says Farrell-Kingsley. “The tech landscape is rapidly changing, with areas like quantum computing, AI, and blockchain reshaping industries. Building a strong foundation in core technical skills while keeping an eye on these emerging trends is key and staying commercially up-to-date can be highly helpful.”
How do you start upskilling? Stay ahead of the curve by:
- Taking online courses and programs: Platforms like Coursera, edX, and Udemy offer a wide range of courses on tech-related topics, and launch new courses regularly. Yet you don’t have to pay for courses and programs to upskill; free programs like Forage job simulations offer the opportunity to do real-world work tasks for top companies for no cost and at your own pace.
- Build personal projects: Continue adding to your portfolio by working on more independent projects that apply new skills.
- Contribute to open-source projects: Collaborate with other developers on open-source projects to gain experience and learn from others.
- Attend hackathons and meetups: Network with other tech professionals and participate in coding challenges to improve your skills.
- Follow tech news and trends: Stay up-to-date with the latest developments in the tech industry by reading blogs, articles, and watching videos.
Build professional skills
Complete real-world tasks that help you build the skills employers are looking for.
Get Experience Before Experience
It’s the entry-level job search cliché — how are you supposed to land your first job to give you work experience if you don’t have work experience already? More and more entry-level roles, including those in tech, have increased experience requirements in their job postings.
While it’s a frustrating paradox, there are ways to get experience without landing a full-time role.
- Internships: Many tech companies offer internships for students who hope to land tech roles post-grad. While these can be more competitive, they offer valuable opportunities to build skills, get hands-on work experience, network, and increase your chances of landing a job post-grad.
- Externships: These shorter experiential learning opportunities give you a chance to learn from a specific professional about what their role and typical workday is like.
- Volunteering: Find tech-related organizations that need volunteers with technical skills.
- Freelancing: If you have time during school or throughout winter and summer breaks, freelancing can offer flexible work schedules while getting paid to flex your tech skills.
- Job simulations: These free programs allow you to practice skills and gain experience in various tech roles at top companies — and increase your chances of getting hired at those companies once you complete their simulations.
Focus on Soft Skills
Landing a job in tech, especially as an entry-level professional, has become more and more about your soft skills — the skills that show how you work and interact with others.
While technical skills are still critical to your chances of landing a role, soft skills can help you stand out from the crowd. Employers don’t expect you to have the expertise of an advanced tech professional; instead, they want to see that you’re competent in tech but also have the ability to learn and grow.
“You need to develop your soft skills — communication, teamwork, and adaptability — alongside technical expertise,” Lodola says. “The job market will continue to evolve, and tech professionals who can collaborate across disciplines and understand broader business contexts will be in high demand. Staying agile and continuously upskilling will be key to long-term success.”
State of the Tech Job Market: The Bottom Line
The state of the tech job market in 2024 has been a bit of a rollercoaster. After the aftermaths of the COVID-19 hiring boom — then overhiring layoffs — there have still been tech layoffs in 2024, but also considerable job growth since the beginning of the year. Specifically, there’s growth in up-and-coming industries like AI, cybersecurity, and cloud computing.
If you’re interested in landing a job in tech in 2024, you may find it’s not the same job seeker’s market as it was in 2021 and 2022 — but that doesn’t mean it’s impossible! Instead, focus on demonstrating your technical experience and your soft skills. As the industry is ever-changing, employers are looking for employees who can embrace the change and adapt with it.
Image credit: Canva
