Job seekers in today’s competitive labor market are feeling the effects of the recent fluctuations compared to the prosperous times during the Great Resignation. However, new compensation data reveals that certain roles are bouncing back. Businesses are keenly hiring machine learning engineers, technical recruiters, and office managers, increasing salaries to attract the right talent. This insight comes from a recent analysis by Greenhouse, a hiring platform, and Pave, a compensation management platform.
The rise in salary offers for these roles highlights companies' efforts to proactively enhance their artificial intelligence (AI) capabilities and leverage AI for efficiency and streamlining operations, explained Jeremy Moulton, Greenhouse’s vice president of corporate development and analytics. Businesses are intensely focused on profitability and operational efficiency, he added.
Let’s delve into how salaries for these positions have evolved and what this means for future hiring demand:
**Machine Learning Engineer**: Compensation for machine learning engineers has been on the rise for over a year. From a median offer of $148,300 annually in January 2023, it surged by 53% to $226,944 by April 2024. Unlike some tech jobs, which haven’t seen such high demand or salary growth, software engineers, for instance, saw only a 4% increase, from $168,000 in January 2023 to $175,125 in April 2024.
**Technical Recruiters**: Recruiters faced significant layoffs starting in 2022 as companies reduced hiring. However, a recent surge in recruiter pay, particularly in the tech sector, suggests that businesses are ramping up staffing and willing to pay more for top talent. From a median offer of $83,750 in September 2023, pay increased by 56% to $130,750 by April 2024. The ability to recognize AI skills in candidates is now highly valued, underscoring the importance of technical recruiting, Moulton noted.
**Office and Facilities Manager**: With workplaces stabilizing hybrid work arrangements, there's increased hiring for office and facilities managers to oversee office spaces. Median pay for these positions has seen significant growth: from $87,000 in January 2024 to $100,000 by April, a 15% increase. Moulton anticipates continued growth in hiring demand and salaries for these roles until businesses meet their staffing needs.
Overall, data suggests sustainable growth in hiring. In the last three months, Greenhouse reported that over 70% of open job postings resulted in a hire. For job seekers, Moulton recommends staying sharp, networking, and remaining resilient as job markets fluctuate during the pandemic recovery. Maintaining a positive attitude and resilience will eventually lead to success, he advised.