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    Software Engineering is the 2nd best job

    Did you know software engineering was the 2nd best job in USA? It used to be 1st but physician's assistants beat us for 2021. πŸ€·β€β™€οΈ

    This is based on research I've been doing for my greencard process, here are some highlights πŸ‘‡

    US bureau of labor statistics projects 22% growth in software developer occupations from 2019 to 2029, classified as "much faster than average" [1]

    Median salary of $110,140, top 10% salaries at $170,000+, and no certification requirements make this the most accessible 6-figure job in USA. At 1,400,000+ members and 22% projected growth, it is the biggest and among fastest growing high-paying jobs. [2]

    In 2021, US News classified "software developer" as the 2nd best job in America (1st in 2020) using metrics such as median salary, unemployment rate, 10-year growth volume, 10-year growth percentage, and future job prospects. [3]

    US News estimates the unemployment rate among software developers at 1.4%, which is much lower than the national average of 6.1% – indicating that software developers were largely unaffected by the pandemic and the related economic shocks. [4] [5]

    Despite the pandemic, the number of software developers grew by 500,000 globally in 2020 – an annual growth of 2.4%. In USA alone, demand for web developers, full-stack, and cloud engineers grew by 25% in 2020. [6]

    The true number of software developers in USA is likely higher. Official metrics have a strict definition, but there's a lot of adjacent professions who consider themselves software engineers or write software as part of their job – like data scientists, information security experts, devops and systems administrators, marketing automation builders, etc.

    Some estimates show over 500,000 open positions with only 50,000 new computer science graduates annually. [7] [8]

    This leads to a shortage of USA-based engineers and leads to offshoring software development to Latin America, Europe, and India. With India projected to become the world's biggest employer of software developers (currently USA) by 2024. [8]

    Hired's State of Software Engineering report says there were 207,000 job openings for software engineers in December 2020. Software Engineers with 6 - 10 years of experience are in highest demand. [9]

    Forbes reports that in November 2019 there were 920,000 unfilled positions in tech. With over 50% of CIOs saying the talent shortage is impacting business growth.

    Forbes further estimates that there were only 165,000 potential applicants for those 920,000 openings. [10]

    Improving, an outsourcing company, estimates that immigrants represent up to 25% of the USA STEM workforce because USA doesn't produce enough talent. By 2030 this issue could lead to $162 billion of unrealized output.

    Because employers have to fill those jobs, they resort to offshoring and nearshoring, which leads to brain and know-how drain in the US and a growing dependence on foreign talent. [11]

    A report from 2019 estimated up to 1,000,000 unfilled computer programming-related jobs in USA. The pandemic dampened that impact, but not by much.

    One way companies are addressing this shortage is by providing in-house training to skill-up existing engineers for new technologies. [12]

    Great time to be an engineer my friend].


    Published on May 18th, 2021 in Software Engineering, Research

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