Job seekers in today’s competitive job market are feeling the pinch compared to the flow times during the big layoff, but new compensation data shows some roles are on the rebound.
Companies are in the hiring process for three roles in particular — machine learning engineers, technical recruiters, and office managers — so much so that they are raising the salaries they need to pay in order to attract the right talent.
That’s according to A Analyze new data From Greenhouse, the recruiting platform, and Pave, the compensation management platform.
The growth in salary offerings for these types of roles reflects companies’ trying to be proactive in construction [artificial intelligence] “Employees are both developing capabilities within their organizations and thinking about how they can leverage AI to either simplify the company or make it more efficient,” says Jeremy Moulton, vice president of corporate development and analytics at Greenhouse.
“Companies in general are very focused on profitability and how they can make their companies more efficient,” he adds.
Here’s how much salaries for these jobs have changed, and what it means for future employment demand.
Machine learning engineer
Wages for machine learning engineers have been growing steadily for over a year now. As of January 2023, the average offer for this role pays $148,300 per year; By April 2024, average offers reach $226,944, or a 53% jump.
Not all tech jobs are in high demand or require such a high salary. For comparison, the average pay for software engineers increased 4% over the same time period, from $168,000 in January 2023 to $175,125 in April 2024.
Technical recruiters
Staffing firms were hit hard during the layoffs that began in 2022 as businesses Reduce their recruiting efforts. But the recent rise in recruiter wages, especially in technology, suggests that companies are back to hiring, and they’re willing to pay to find the people they’ll hire next.
As of September 2023, average offers paid technical recruiters $83,750, but that salary jumped 56% to $130,750 as of April 2024.
Wage growth indicates that having AI skills, Or even being able to recognize it in a candidate is an advantage in today’s job market, Moulton says.
Knowing how to use AI can give you the ability to work more effectively or in innovative ways, and for recruiters, it can give you a better idea when candidates are well-versed in a skill set.
“Technical recruiting is a powerful role within organizations,” says Moulton. “You really want — at the beginning of your sourcing — the recruiters who are able to identify and find those candidates and do an initial assessment of their skills, to really be able to attract those higher-quality candidates.”
Office and Facilities Manager
Many workplaces have settled into hybrid arrangements, and as employees spend more consistent time in offices, companies are hiring employees to manage their building spaces.
As a result, average pay for office and facilities managers has risen even further in just a few short months: In January 2024, the average pay for an office manager job paid $87,000, although it increased 15% to a salary of $100,000 as of April .
Moulton says he expects hiring and salary demand to continue to rise before stabilizing, especially for office managers once companies fill those needs.
More broadly, the data suggests that employment is growing at a sustainable rate. In the past three months, Greenhouse says more than 70% of open job postings ended up hiring (rather than closing because the role was cancelled, not enough quality candidates, or other factors).
For current job seekers, Moulton advises keeping your skills sharp, communicating and understanding that job opportunities are still in flux amidst the recovery from the pandemic: “Labor markets go up and down. If you can keep a positive attitude and stay flexible, you will eventually of achieving this.” “We’re seeing some success.”
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