The most in-demand tech roles in 2023

According to the recently published State of the Tech Workforce report, despite experiencing some setbacks in recent months, the technology sector's employment landscape, as a whole, displays a stable outlook for job growth and opportunities in the field of information technology across various industries this year. The report highlights a particular demand for professionals in data science, data analysis, cybersecurity, user interface, user experience design, and software development.

The report projects a 3% increase in the size of the technology workforce in the United States, maintaining a growth rate similar to that observed in the past year, extending through 2023. The report indicates that approximately 9.2 million individuals are classified as technology professionals within the country, comprising approximately 5.8% of the workforce. Despite their relatively small representation, these technology professionals significantly influence the broader business landscape.

Furthermore, the same study by CompTIA reveals that tech workers command an estimated average salary of $100,615, twice the median salary observed across all occupations. This highlights the substantial earning potential and value that technology professionals bring.

Poised for substantial growth

The employment landscape in the technology sector is poised for substantial growth in the coming decade, surpassing the overall employment growth rate in the broader economy. Projections indicate that technology occupations will experience a growth rate approximately twice that of the average employment rate.

In 2023, several technology occupations are expected to exhibit notable growth. Data scientists and analysts are anticipated to experience a growth rate of 5.5%, while cybersecurity analysts and engineers are projected to grow at 5.2%. The fields of web design, UI/UX, software development, and software QA and testing are all forecasted to grow at a rate of 4.7%. Additionally, CIOs and IT directors are expected to grow at 3.4%, while systems analysts and engineers are predicted to grow at 2.6%. IT support specialists round out the list with a projected growth rate of 2.4%.

The study highlights that among the vast number of technology workers, which exceeds nine million individuals, 61% are primarily engaged in creating and implementing technological solutions. The remaining 39% of professionals focus on various business functions related to technology delivery, such as sales, marketing, finance, human resources, operations, and management.

These insights shed light on the significant growth potential and diverse roles within the technology sector. As technology continues to advance, professionals in various disciplines will be in high demand, underscoring the pivotal role played by the technology industry in shaping the future of the job market.

Organizations utilize technology as an integral part of their operations

Among technology professionals, a majority of 58% are employed by end-user companies, while the remaining 42% work directly for technology firms. This distribution highlights the significant presence of technical expertise within organizations that utilize technology as an integral part of their operations.

Within the technology industry, which encompasses both IT and supporting business occupations, the report acknowledges variations in growth. The category of IT services and custom software services has been a driving force behind job growth since 2017, accounting for 52% of the overall job gains within the industry. Similarly, software products contributed to 29% of the job gains during the same period, showcasing their significance in the employment landscape.

These findings underscore the dynamic nature of the technology industry, with employment distribution spanning end-user companies and tech firms. Moreover, the dominance of IT and custom software services as drivers of job growth reflects the increasing reliance on technology solutions across industries.

High turnover is the new norm

The study's findings highlight a notable trend of high turnover within the technology sector. It is revealed that the replacement rate for tech occupations is expected to average around 7% annually from 2023 to 2033. This equates to approximately 400,000 workers transitioning out of their roles each year, resulting in a cumulative turnover of several million workers by the year 2033, as predicted by the report.

Furthermore, the study indicates that the total turnover rate, which encompasses workers leaving the sector and those transitioning within the technology field, is estimated to average 36% annually throughout the reporting period. This includes individuals who are promoted to new roles within the tech industry.

These statistics highlight the dynamic nature of the technology sector, where movement and transitions among professionals are relatively frequent. The actual turnover rates underscore the continuous evolution and growth within the industry, with workers seeking new opportunities, advancing in their careers, and contributing to the overall dynamism of the technology workforce.