Mega companies like Amazon have been pulling the throttle on hiring graduates right out of school and are taking a more cautious approach. Still, the cybersecurity job market remains red hot.
According to college career offices, employers are adopting a more cautious approach when hiring 2023 graduating seniors this year, a significant departure from the previous two years. In the past, companies would frequently extend offers within weeks of the start of the school year and engage in bidding wars for interns and graduating seniors, but now, they are taking things more cautiously.
In the past few months, notable companies like Alphabet Inc. and Meta Platforms have been slashing their workforce to adapt to the ever-changing job market. These were the same type of companies that went on a hiring bonanza only two years ago and were recruiting graduates while they were still taking courses.
Amazon.com did hire graduates to start this summer following graduation but changed course and decided to postpone the start dates for six months. Worse yet, there’s no guarantee Amazon will not push the start date even further.
Wayfair Inc., the home goods retail giant, cut 10% of its workforce, totaling more than 1,700 staff members from its ranks.
Last month iCIMS, a recruiting software firm, surveyed 1,000 college seniors and found that nearly all of them, 97%, stated they are considering other career and job alternatives, like side gig-type work, unrelated to the college major they complete.
But with the recent change in the job market it’s forcing many upcoming graduates to find creative and ingenious ways to stick out among the pack of other job seekers. Some students have said they intend to apply to a wider range of positions, be more aggressive with their applications, and even join networking groups to meet influential people that may be able to steer them onto a better path – like Daniel Kim.
Daniel Kim, a 22-year-old NYU soon-to-be graduate of economics, expressed concerns over a possible recession and is developing a new post-college plan.
After submitting more than 50 résumés without much success, Kim decided to switch up his job search tactics. He began seeking out connections who could potentially make meaningful introductions for him. Recently, he had the opportunity to meet with an NYU alum and dentist, and through a family friend, he was able to connect with some patients who worked in finance. As a result, Mr. Kim was able to secure a meeting and is now applying to Korean-American banks, where he hopes his ability to speak Korean will give him an edge in securing an entry-level role. He’s also considering job opportunities in real estate – an industry not overly covered in an Economics college curriculum.
Cybersecurity Remains A Hot Market
One industry that has been remaining in-demand is the cybersecurity profession.
Cybersecurity is crucial because it protects sensitive information from cybercriminals who can exploit it for financial gain or other criminal purposes. Without proper cybersecurity measures, individuals, organizations, and even governments are vulnerable to cyber-attacks that can cause significant harm, including financial losses, reputational damage, and even loss of life in extreme cases.
Virtually every major corporation, industry, government entity, and business of all sizes is aware of this problem. They are becoming increasingly cognizant and are stretching their incentives more and more to recruit qualified cybersecurity professionals.
We previously covered some surprising open positions in the cybersecurity industry, and the demand remains high – as does the salary. The average cybersecurity professional makes double the national average salary at over $100,000 per year as a cybersecurity analyst.
The demand is so high that qualified, trained cybersecurity applicants are beginning to demand additional incentives aside from what is considered “typical.”
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