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DIGITAL HIRING REMAINS STRONG – Q1 2018 DIGITAL JOBS INDEX
BAY AREA AND NEW YORK OUTPACE BOSTON, ACCORDING TO LATEST REPORT FROM ON PARTNERS
CLEVELAND, OH – May 21, 2018 – ON Partners, the results-driven retained executive search firm, has compiled the results of its revamped quarterly Digital Jobs Index for the first quarter of 2018. Bay Area employment increased at a rapid pace in Q1, with over 4,375 new jobs added in the software and internet sectors for a 2.1% gain in employment. New York City was next, with a 1.8% gain and almost 1,280 jobs added, while Boston’s headcount growth was slower at 1.1%, with an increase in headcount of just 650 people.
Bay Area growth in the first quarter was mainly driven by the success of its largest employers, which added extensively to their payrolls. New York growth was driven by broad hiring across the software and internet sectors, with 70% of companies increasing their headcount, an illustration of the city’s healthy tech scene. Meanwhile, Boston’s largest companies were relatively slow to add to their payrolls. In addition, the hiring scene in Boston was mixed, with only 52% of companies adding jobs while the remaining 48% either decreased headcount or remained flat.
“Overall, there were varying factors at play in each city, but the bottom line is that big Bay Area companies clearly won the jobs race last quarter,” noted John Barrett, a partner at ON Partners. “A possible explanation for Boston’s relatively low growth in hiring is that much of the venture capital dollars are flowing into the city’s biotech sector, which is muting employment growth in software and internet companies.”
The Digital Jobs Index tracks three key areas: headcount growth among the leading 100 software and internet companies in each city, headcount growth driven by the Top 10 companies (an indication of breadth and depth of hiring) and the percentage of companies that increased their headcount. Taken together, this data is a barometer of the current health of the labor market in the software and internet sectors.
Full results of the survey are published below.
QUARTERLY EMPLOYMENT CHANGE IN DIGITAL JOBS (%)
Q1 COMPANIES WITH INCREASING HEADCOUNT (%)
FIRST QUARTER 2018 RESULTS FROM ON SEARCH PARTNERS’ DIGITAL JOBS INDEX:
Boston data:
Approximately 650 jobs added for a 1.1% gain
Top 10 companies showing largest headcount gains in Boston include:
- Wayfair
- Amazon
- HubSpot
- ezCater
- EverQuote
- Salsify
- LogMeIn
- Mathworks
- Intralinks
Other companies showing notable gains in headcount:
- Salesforce
- CarGurus
- LevelUp
- Datadog
- Carbon Black
- Catalant
- Bitsight
- True Fit
- PillPack
- Buildium
New York data:
Approximately 1,280 jobs added for a 1.8% gain
Top 10 companies showing largest headcount gains in New York include:
- Amazon
- WeWork
- Compass/
- Uber
- IBM
- Squarespace
- FreeWheel
- Indeed.com
Other companies showing notable gains in headcount:
- Spotify
- Namely
- Oscar Health
- Moda Operandi
- Dataminr
- Datadog
- Rent the Runway
- Group Nine Media
- BounceX
- Casper
Bay Area data:
Approximately 4,375 jobs added for a 2.1% gain
Top 10 companies showing largest headcount gains in the Bay Area include:
- Apple
- Amazon
- Workday
- Uber
- Lyft
- eBay
- PayPal
- ServiceNow
Other companies showing notable gains in headcount:
- Airbnb
- Slack
- Cloudflare
- Sumo Logic
- Zuora
- DocuSign
- Pivotal
- Anaplan
- Asana
ON Partners identified the leading 100 software and Internet companies in Boston, New York City and the Bay Area. When considering a company’s eligibility to be included in the top 100, ON Partners looks at the number of local employees in each city, employment growth and importance to the local technology community. The Digital Jobs Index represents the quarterly headcount change among those 100 companies in each metropolitan area within a 50 mile radius. ON Partners’ Digital Jobs Index is current as of March 30, 2018.
LinkedIn: http://www.linkedin.com/in/johnbarrett3
Twitter (@jbarrett): https://twitter.com/#!/jbarrett
About ON Partners
ON Partners recruits game-changing executives for world-changing companies. ON Partners was founded in 2006 by like-minded executive search professionals desiring to establish a more client-centric alternative to the large multi-service global firms they were leaving behind. Growing quickly ever since, we have recently been named to the INC 500/5000 List and as one of the Top 25 Retained Executive Search Firms in the U.S. Specializing in recruiting C-suite, Board and Vice President/Senior Management talent, our Partners have a long successful track record of building world class management teams across broad industries. For more information, visit www.onpartners.com.
About ON Partners
Since 2006, ON Partners is the only pure-play executive search firm building diverse C-level and board leadership teams. We rebuilt the institution of executive search for the way you work. Our approach includes present partners who engage with their clients from the first brief to the final decision, individually crafted solutions that are unique to each client, and an easier experience all around. Named by Forbes as one of America’s Best Executive Recruiting Firms and to the Inc. 500/5000 Lists nine times, ON Partners is consistently ranked among the top 20 retained executive search firms in the U.S.
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