August 22, 2023Read More
Today we’re featuring an article from the Financial Times on career and employment prospects for four industries. We hope these insights inspire you to discover your future career path.
The FT highlights two overarching themes: the need for green skills across all sectors and more health and social care roles because of the aging population. Here are FT’s comments on career prospects in four key industries:
- Technology: despite the recent, significant layoffs from Big Tech giants such as Google and Meta, Sinem Buber, lead economist at US job platform ZipRecruiter, still thinks the tech sector has opportunities and offers the highest paying jobs with the most flexibility. According to data from ZipRecruiter, between 2021 and 2022, the fastest-growing entry-level tech positions were for application development and data analysis roles. In terms of skills, natural language processing, blockchain and cyber security were in high demand. More recently, many companies are racing to leverage artificial intelligence, with roles in research and development, product management and AI programming growing in popularity.
- Video Games: while video games boomed during the pandemic, a sluggish 2022 and recent industry job cuts have challenged the video game sector. However, according to Bain & Company, global revenue for the game development industry is expected to grow over 50% by 2027. In addition, AI-powered software, such as GitHub Copilot and DALL-E 2, is expected to catalyze that growth by increasing the efficiency of game developers. However, industry analysts point to consolidation in the industry (Microsoft/Activision) as a potential challenge to new graduates breaking into the sector. The successful will have a good portfolio that showcases their art style and have basic knowledge about agile development and project management skills.
- Climate and sustainability: sustainability is proving to be a resilient career choice as regulatory changes force companies to spend more on these roles. According to a report from Columbia University, the number of green job openings has outpaced the number of people with green skills over the past five years. Chief sustainability officer roles have surged both in number and in importance. In 2021, management consultancy PwC found that, out of 1,640 public companies it surveyed, 28% said their CSO was part of the C-suite. Additionally, PwC itself said it would increase global headcount by more than a third over the next five years as part of a $12 billion investment to capture market share for ESG advice. One of the primary reasons for the boom in green jobs is that most companies are required to disclose ESG related information. According to a report from the Association of International Certified Professional Accountants, 95% of companies are reporting some ESG information, and almost 67% are getting this information verified by a third party.
- Logistics and supply chains: supply chain disruptions caused by the COVID pandemic significantly impacted the logistics and supply chain functions of companies large and small. As more consumers order products online, new university graduates skilled in logistics and supply chain are in high demand. In addition, political developments such as Brexit, the Ukraine war and US-China tensions, have made the international supply chain more complex. Traditionally this function has been male-dominated and continues to face criticism for employing warehouse workers and delivery drivers on low wages and unstable contracts. However, the range of skills now required for this function have broadened widely and engineering, data analytics, and project management skills are coveted, and offer higher wages.