Here is our market update for June 2022, showing you the latest stats and trends from the technology scene in Newcastle.
Hope you enjoy the episode!
Hey, James MacDonald here from NewyTechPeople, back for another episode of the monthly jobs update.
We had 171 jobs posted on Seek in the Newcastle technology sector. That’s pretty much on par with the month before, I think we’re up by one job. And up 13% year-on-year. So nice year-on-year increase. That’s a decent size job flow for the Newcastle market. 171 jobs posted in the Newcastle technology scene. We’re seeing real breadth of companies posting.
Again I think you get the main players across Newcastle advertising for roles. You’re looking for the main employers of those medium to large size technology teams. We’re seeing a lot of those little small players pop up with one or two jobs. So it’s interesting to see there’s more variety out there for people. In many years gone past, five six years ago in technology in Newcastle, there’s probably four or five major employers of technology. And if you worked at one of them and then you moved on. You’ve crossed two of the five off the list. There wasn’t too many more options for you. The times have changed.
There’s plenty of options across technology for professionals willing have a look around. The other major thing to look at at the moment is the salaries. We are releasing our salary guide this month in July but there’s a bit of talk around internationally, and within Australia of VC money coming out of the market. VC’s tightening their purses, especially with those high-growth scale ups. And a lot of those high-growth scale ups are actually the ones that are driving the salary increases over the past 12/24 months.
They get money coming in in big investment. Investors are really high on them growing their teams aggressively. So to hire those teams aggressively they’ve gotta pay on and over market rate. Which they are doing but that drives up the salaries for technology professionals across the board. Without VC money coming out now, there’s some interesting conversations around, are there going be too many tech professionals come on the market if they’ve been let go, or what’s gonna happen there. We haven’t seen that yet. Yes there’s been some companies that have let technology professionals go, but there’s more than enough companies there willing to snap them up. So, definitely still a candidate-short market. It’d be interesting with talks of a recession and these budgets tightening for technology companies and technology companies, losing value on the share market and the challenges that they might face. But right now we’re not seeing any mass challenges. Still a talent short market. Still plenty of opportunities out there for technology professionals. That’s what we’re seeing in the market. We’ll keep it nice and short. We’ll be back next month with another update. Again, I don’t really see a great deal of trends changing at the moment.
Still, the market is strong. Plenty of advertisers out there looking for technology professionals in Newcastle. Thanks again for listening.