Today's senior IT employees may look back on the Dot-Com era, the late 1990s through about 2000, as a golden age. The Internet had burst onto the scene and companies of all kinds were popping up, finding new ways to exploit the new technology. Inevitably, many of those companies found their business models to be unsustainable, and the dot com crash followed.
Today's new graduates may not realize it, but they're searching for their first jobs in a new golden age. There are now more tech jobs in Silicon Valley than there were during the dot com boom period, and technologies that were once dismissed as dead, like artificial intelligence, are suddenly finding new applications.
The Bay Area now has more than 20,000 more technology jobs than it did back in the dot com era, leading some to question whether a new bust is coming. In fact, several major tech firm, big names like Yahoo and Microsoft, have laid off thousands of employees, and venture capital — a key measure of support for this industry — has dropped by nearly three billion dollars over the last year.
But there are also signs that the boom-n-bust cycle is still set on boom, with the bust nowhere in sight. Tech firms with cash have been acquiring other tech firms, especially those in currently hot areas like big data or the Internet of Things. And tech unemployment remains low, at less than half the general unemployment level.
That means that job seekers in the Bay Area will find opportunity, and likely stability, if they search for a new position in the tech industry. Those who are willing to look outside the hottest specialties or who are willing to work in businesses that merely use tech rather than create tech will find even more chances for interesting, meaningful work.
The Armada Group has been helping developers and other technical workers chart their career paths for more than 20 years. Our recruiters are skilled at understanding and matching candidate backgrounds against the requirements of job opportunities. Let our recruiters help your career boom in the Bay Area. Contact us to start your search today.