Betts’ Guide to Industries That Are Hot to Hire in 2023

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It’s been quite a year for tech. With major media coverage of big tech layoffs getting major play, it might seem like hiring has cooled in this sector. While there’s been a chill for some large companies—here’s looking at you, Meta, Twitter, and Microsoft—markets across the country actually picked up pace in March, adding 316,000 jobs, according to the most recent CompTIA report, which showed a robust month-over-month increase. And with the tech unemployment rate holding steady at 2.2%—the lay of the tech job market land is more complex (and compelling) than you might think. Smart companies, however, know that attracting and retaining talent is as essential as ever.

In the wake of this topsy-turvy year in tech, we at Betts want to help you find your dream job in tech—so we put together a list of the hottest roles in growing market sectors. Think of this as the unofficial official ranking of hottest industries and jobs right now—an insider’s look at what’s really going on.

And now, we present the hottest industries for Go-To-Market talent hiring right now in Q2 and heading into Q3—and roles and industries that are not. Before we get to what’s hot, let’s talk about what’s not in 2023. FinTech took a nosedive and cryptocurrency is chilly willy—with a crypto winter still hovering.

So, in this year of up/down—what industries are sizzling in 2023?

The Tech Rollercoaster Ride

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Who's Heating Up?

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These results are derived from open job listings during Q1/Q2 of 2023, as published by Betts and Betts Partners. Out of all open positions, 30% are related to AI, 20% to biotech, and 15% to healthcare.

Sitting on the top of the world is A.I. Despite big tech’s turmoil; the sun is still shining in Silicon Valley as an investment frenzy over generative A.I. takes the Valley by storm. Simply put, A.I. is a rapidly expanding tech sector looking to bring in talent.

More than 450 start-ups are currently working on generative A.I.— hello, Chat GPT!—focused exclusively on pre-seed & seed-stage start-ups. And the feeding frenzy has been amped up by investor eagerness to find the next BIG thing in a gloomy tech environment. In 2022, tech investors poured around $1.37 billion into generative A.I. companies across 78 deals—nearly as much as they invested in the five years prior combined, according to PitchBook. And 2023 has already nearly topped that number ten-fold with Microsoft’s $10 billion investment in OpenAI. It’s fair to say that deal-making around generative A.I. start-ups has gone into massive overdrive—which bodes well for job seekers.

Many of those hit by big tech layoffs this past year may soon find themselves part of the A.I. revolution. Around 15% of Crunchbase’s list of more than 500 Actively Hiring start-ups are in the A.I. sector. The A.I. market is poised to hit $76.44 billion by 2025—with a ramped-up growth rate of more than 21%. It’s fair to say we are on the precipice of the new BIG thing.

Nothing Artificial About the Rise of Artificial Intelligence

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While big tech is in turmoil, travel tech companies are still hiring, specifically Navan (the all-in-one travel, corporate card, and expense management solution) has been heating up. Travel technology is an umbrella term that describes many technologies like A.I., mobile, and augmented reality in tourism, travel, and hospitality.

After years of Covid-induced shutdowns, all things travel has heated up, perhaps explaining why it’s rising again on our Hot Industries list. According to a March 2023 McKinsey report, travel startups could be positioned to contribute to the industry’s next digital horizon.

Between 2020 to 2022, investors poured over $27 billion worth of investments into travel companies. And in 2021, investment in travel set a new record of just under $11 billion, indicating that investor appetite has not just returned to pre-Covid 19 levels but surpassed it. Travel tech juggernaut Booking.com reported $6.1 billion in November 2022—its best quarter ever. And according to the CEO, demand is not slowing down.

The emergence of A.I. and mobile technology have driven customer demand for a much greater level of personalization than ever before, driving innovation and growth in this sector, with companies striving to find novel, innovative ways to integrate breakthrough technology into their operations.

Travel Tech is Northward Bound

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HR tech is a term for software and associated hardware that automates human resources functions for companies. It can include talent acquisition and management, workforce analytics, performance management, and benefits administration.

This industry has ramped up rapidly, with large global companies widely adopting HR tech systems from enterprise software companies like Oracle and SAP and specialized HR tech vendors like Betts Connect and Deel. Small and mid-sized organizations are also shifting in large numbers to digitize their HR functions, turning to SaaS platforms or cloud-based HR tech vendors. And as these HR tech companies continue their ascendancy, so does their need for talent—positioning them as a great place to turn in this shake-up era of big tech.

Managing Up: Human Resource Management is in Ascension

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Change is the only constant, and tech is no exception. Some of what was hot last year are not this year—and industries that were not on the sizzle meter are steaming up. While A.I. is dominating, it doesn’t mean that other industries are not hiring. If you have your heart set on a particular sector (we see you, crypto crushers), follow your passion—but know that it may be a more arduous slog.

We’ll say it again, it’s been quite a year for tech—and the media headlines have beat the gloom-doom-drum so hard that many of us have lost sight that things are actually not so bad, exemplified by the tech unemployment rate holding steady at 2.2%.

While the lay of the tech job market is more complex than it once was, opportunity is still knocking—and Betts wants to help you knock on the right doors. If you want to learn more about compensation, check out our comp guides at bettsrecruiting.com.

Tech is still ticking—it just depends on where you look

Salaries by Industry

Advertising
Artificial Intelligence
Biotechnology
Crypto Currencies
Cloud Computing
Community and Lifestyle
Consumer Electronics
Consumer Goods
Content and Publishing
Data and Analytics
Design
E-Commerce
Education

Energy
FinTech
Hardware
Health Care
HR
Information Technology
Manufacturing
Mobile
Payments
Platform
Real Estate
Security
Transportation

$108,500
$118,125
$125,469
$127,709
$95,000
$93,333
$107,545
$92,500
$110,455
$107,125
$120,988
$91,375
$106,000

$97,500
$97,143 $107,000 $100,000 $81,250 $80,833 $75,000 $85,000 $82,500 $99,583 $90,000 $102,500 $82,500
Account Executive

Advertising
Artificial Intelligence
Biotechnology
Crypto Currencies
Cloud Computing
Community and Lifestyle
Consumer Electronics
Consumer Goods
Content and Publishing
Data and Analytics
Design
E-Commerce
Education

Energy
FinTech
Hardware
Health Care
HR
Information Technology
Manufacturing
Mobile
Payments
Platform
Real Estate
Security
Transportation

$121,066
$131,806
$140,000
$142,500
$150,000
$104,143
$120,000
$103,213
$123,247
$135,300
$135,000
$130,000
$127,500

$108,792
$108,393
$119,392
$150,000
$133,125
$125,000
$120,000
$137,500
$120,000
$150,000
$135,000
$137,500
$151,250

Enterprise Account Executive

Advertising
Artificial Intelligence
Biotechnology
Crypto Currencies
Cloud Computing
Community and Lifestyle
Consumer Electronics
Consumer Goods
Content and Publishing
Data and Analytics
Design
E-Commerce
Education

Energy
FinTech
Hardware
Health Care
HR
Information Technology
Manufacturing
Mobile
Payments
Platform
Real Estate
Security
Transportation

$55,000
$64,167
$58,500
$62,500
$70,625
$58,750
$65,000
$55,000
$60,000
$63,900
$64,000
$62,500
$55,000

$45,000
$67,500
$70,000
$70,000
$64,000
$62,500
$57,500
$70,000
$55,000
$60,000
$60,000
$59,000
$60,000

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