How offshore outsourcing continues to devastate the tech sector
Robert Weisman reports today in the Boston Globe on how the local IT job market is doing three years after offshore outsourcing devastated the tech sector: Five years after the dot-com bust ravaged the technology industry, erasing tens of thousands of jobs in Massachusetts, the “Help Wanted” signs have been pulled out of storage. State ...
Robert Weisman reports today in the Boston Globe on how the local IT job market is doing three years after offshore outsourcing devastated the tech sector: Five years after the dot-com bust ravaged the technology industry, erasing tens of thousands of jobs in Massachusetts, the "Help Wanted" signs have been pulled out of storage. State figures released Thursday show several high-tech job categories growing at more than triple the rate of overall employment over the past 13 months. The job market hasn't returned to the feverish state of the 1990s, and fields such as telecommunications have been slower to recover. But multiple job offers are no longer rare for managers and consultants, software developers, researchers, website designers, marketing and sales professionals -- even newly minted college graduates -- knocking on the doors of resurgent high-tech companies. Especially hot are Internet businesses riding the new wave of digital commerce. And, on the flip side, employers are struggling for the first time in years to hire technology talent. Many are paying signing bonuses ranging from $15,000 to $40,000, often structured as tuition forgiveness, to lure masters in business administration graduates from top schools. More junior employees are finding themselves in demand, too. Internet consulting firm Molecular Inc. offered a job to a woman who interviewed at its offices in the Arsenal on the Charles River last month. She is a software engineer relocating to Boston from Alabama. "She flew up for a few days, interviewed with three companies, all referrals from friends, and had job offers from all three the next week," Molecular managing director Patrick Heath reported in an e-mail last month to Ralph Folz , chief executive officer of the Watertown company. Heath concluded the e-mail, which Folz shared with the Globe, by observing, "The market is crazy right now." (Late last week, the coveted software engineer accepted Molecular's offer.) New data from the Massachusetts Department of Workforce Development show the number of non-farm jobs in the state increased 1.2 percent since the start of 2006. At the same time, employment grew 3.7 percent in computer systems design, 4.5 percent in technology management and consulting, and 4.9 percent in research and development, fields encompassing many of the employees being snapped up by Internet companies. "The hiring market is tougher than it's been since 1999 or 2000," said Folz, recalling the last boom.
Robert Weisman reports today in the Boston Globe on how the local IT job market is doing three years after offshore outsourcing devastated the tech sector:
Five years after the dot-com bust ravaged the technology industry, erasing tens of thousands of jobs in Massachusetts, the “Help Wanted” signs have been pulled out of storage. State figures released Thursday show several high-tech job categories growing at more than triple the rate of overall employment over the past 13 months. The job market hasn’t returned to the feverish state of the 1990s, and fields such as telecommunications have been slower to recover. But multiple job offers are no longer rare for managers and consultants, software developers, researchers, website designers, marketing and sales professionals — even newly minted college graduates — knocking on the doors of resurgent high-tech companies. Especially hot are Internet businesses riding the new wave of digital commerce. And, on the flip side, employers are struggling for the first time in years to hire technology talent. Many are paying signing bonuses ranging from $15,000 to $40,000, often structured as tuition forgiveness, to lure masters in business administration graduates from top schools. More junior employees are finding themselves in demand, too. Internet consulting firm Molecular Inc. offered a job to a woman who interviewed at its offices in the Arsenal on the Charles River last month. She is a software engineer relocating to Boston from Alabama. “She flew up for a few days, interviewed with three companies, all referrals from friends, and had job offers from all three the next week,” Molecular managing director Patrick Heath reported in an e-mail last month to Ralph Folz , chief executive officer of the Watertown company. Heath concluded the e-mail, which Folz shared with the Globe, by observing, “The market is crazy right now.” (Late last week, the coveted software engineer accepted Molecular’s offer.) New data from the Massachusetts Department of Workforce Development show the number of non-farm jobs in the state increased 1.2 percent since the start of 2006. At the same time, employment grew 3.7 percent in computer systems design, 4.5 percent in technology management and consulting, and 4.9 percent in research and development, fields encompassing many of the employees being snapped up by Internet companies. “The hiring market is tougher than it’s been since 1999 or 2000,” said Folz, recalling the last boom.
Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner
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