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The Information Technology (IT) Industry is expected to see the fifth highest growth in 2011 at 32.1%. Technology or IT executive jobs represent roughly 14% of the retained executive search industry, an 11 billion dollar industry at the end of 2008.
In Q1 2009, the global recession led to a decrease in executive searches across all industries and regions. The technology sector was one of the hardest hit, with the number of executive searches started in Q1 falling 16.4% from the last quarter of 2008. A year-on-year comparison shows IT executive searches dropping 39.4% over the same quarter in 2008.
Luckily, it seems like things have turned around for the IT/technology sector. With the resurgence of social media and a greater attention to internet marketing, green technologies, etc. (see below), there is clearly drastic improvement taking place. By the end of 2010, the technology industry had a strength rating of 80% ranging between stable to very strong. This shows that AESC members, and much of the executive recruiting industry, have full confidence in this sector's full and rapid recovery.
Specialties and Areas of Growth for Executives in Technology
Within the technology sector, AESC member executive search consultants are working on IT executive level job placements that include: web development, software, hardware, networking, consulting, high technology and robotics, computer gaming and new technologies.
Steve Watson, CEO of Stanton Chase and AESC member, believes that the growth opportunities exist in "new software technologies in social networking; wireless; email/voicemail/texting/video; anything in green/clean tech; broadband; and data compression." He also says that "at the nexus of technology and healthcare, the integration of medical platforms is very much in vogue."
"There's high demand for CIO’s and other senior technology experts across all industries. Companies are looking for new leadership to drive ROI," Watson informs. He also adds that "we're seeing salaries going up, but not leap- frogging."
Areas With Highest Concentration of Technology/IT Executive Opportunities
The Association of Executive Search and Leadership Consultants has over 1,000 members around the world specializing in Information Technology. Most of those consultants are located in North America, but executive search member firms specializing in IT span worldwide. In North America, the most search activity in the technology sector occurs in New York City, San Francisco, San Diego, Beverly Hills, Boston, Atlanta, Chicago, Miami and Toronto. London, Frankfurt, Paris, Milan, Brussels and Amsterdam hold the most IT executive recruiters in Europe, while Sydney and Tokyo take the Asia Pacific region; Mumbai leads the Middle East; and Buenos Aires fronts South America.
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