Valuable insights into the current state of the tech sales job market.
Today, I want to address opportunity seekers and shed light on the current state of the market. As we near the end of May 2023, there may be some confusion out there, especially in the technology sales field, between what people are reading about the job market and their personal experiences while searching for new opportunities.
The headlines often highlight fantastic job growth numbers for 2023, but upon closer examination, this growth is predominantly in sectors unrelated to the technology industry, such as government, administration, healthcare, and hospitality. In the technology industry specifically, hiring growth has actually slowed down by approximately 50% each month compared to the same period in 2022.
If you’re facing challenges in finding a new opportunity in technology sales, it’s important to know that you are not alone. Also, I believe there are adjustments needed in how we approach the job search process. Meaningful improvements in hiring volumes for technology sales may not be on the horizon for the foreseeable future, possibly extending six months or more.
“Stay informed, adapt your strategies, and remain resilient.”
Considering this, it’s crucial to let these circumstances guide your strategies and thought process as you navigate the search for a new position. This includes effectively explaining your job moves, targeting roles that align closely with your background and experience, and being mindful of the current compensation landscape, which has seen notable changes compared to a year ago.
However, it’s essential to remember that you can still be creative in your job search. When speaking with companies that either claim they’re not hiring or consider your background unsuitable for a position, take the opportunity to inquire about any recent changes they’ve made to their hiring and recruitment approaches over the past six months.
This knowledge can prove beneficial, not only for that specific company but also for other companies you may be approaching for open positions. It will help you gain insights into which companies are worth targeting for opportunities in the first place.
Stay informed, adapt your strategies, and remain resilient. While the current market may present challenges, there are still opportunities waiting to be seized. Keep exploring and pursuing your goals with determination and focus.
Remember, if you have any questions about this topic or the job market in general, please feel free to reach out to us by phone or email. We would love to help you out.