Q3 Tech Hiring Plummets in NYC and Boston, According to Latest ON Partners Digital Jobs Index
Cleveland, OH (PRWEB) November 17, 2016 -- ON Partners (http://www.onpartners.com), the results-driven retained executive search firm, has compiled the results of its quarterly Digital Jobs Index, tracking tech hiring in Boston and New York. According to the latest data, both New York and Boston posted their worst third quarter hiring numbers in the past five years, since the survey started in 2012.
For New York, this past quarter was a continuation of what has been a clear hiring slowdown over the past 15 months. Boston, on the other hand, had been showing strong headcount growth in 2016 until the third quarter, when hiring demonstrated a sharp drop. If not for healthy headcount additions at Wayfair and Amazon, Boston would have seen its first quarterly headcount decline over the past five years in the digital sector.
New York had only about 49% of companies adding headcount to their payrolls, while the other 51% either shrunk headcount or stayed even. Boston was worse, with only about 45% of companies adding to headcount while a record 55% of companies reduced employment or remained the same.
ON Partners’ John Barrett observed, “The severity of the third quarter slowdown was a little unexpected. It’s hard to know if this was a brief aberration that will soon correct itself, if the election caused cold feet on the hiring front and/or if the reported slowdown in early stage VC investing has impacted hiring. The hiring data for Boston was especially concerning.”
New York’s “Top Ten” list had one newcomer: Yext. The City’s “Up and Comers” list had several new names including Ceros, Vroom, Newsela, NowThis and Rocketrip. There were multiple first timers on Boston’s “TopTen” list including Catalant, Disruptor Beam and Blueport Commerce. Boston companies making the “Up and Comers” list for the first time were SavingStar, Scout Exchange and Teikametrics.
Full results of the survey follow below.
NEW YORK Q3 DATA:
410 Internet and digital companies with 10+ employees in New York City
• Approximately 1,180 jobs added for a 2.0% gain
Top 10 companies showing largest headcount gains in New York include:
1. Amazon
2. Google
3. Spotify
4. Blue Apron
5. Yelp
6. Compass
7. Yext
8. Facebook
9. Indeed.com
10. Etsy
Up-and-coming private companies showing large headcount gains:
• Moat
• Thrillist
• Rent The Runway
• Casper
• Betterment
• Refinery29
• chloe & isabel
• Bustle
• Integral Ad Science
• Operative
• Vox Media
• 1stdibs
• Squarespace
• LearnVest
• Movable Ink
• Ceros
• Fanduel
• Taboola
• Vroom
• FreeWheel
• Managed by Q
• Codecademy
• BuzzFeed
• Paperless Post
• Fancy.com
• Sailthru
• HookLogic
• Newsela
• NowThis
• Interlude Ltd.
• Rocketrip
BOSTON Q3 DATA:
190 Internet and digital companies with 10+ employees in Boston
• Approximately 250 jobs added for a 1.1% gain
Top 10 companies showing largest headcount gains in Boston include:
1. Wayfair
2. Amazon
3. HubSpot
4. CarGurus
5. Criteo
6. PillPack
7. Catalant
8. DraftKings
9. Disruptor Beam
10. Blueport Commerce
Up-and-coming private companies showing large headcount gains:
• Salsify
• EverQuote
• DataXu
• WordStream
• Crimson Hexagon
• Upserve
• Recorded Future
• CoachUp
• Scvngr
• Wistia
• Whoop
• SavingStar
• SessionM
• StudentUniverse (owned by Travel Centre)
• Lola
• Hopper
• Pixability
• SnapApp
• Redpoint Global
• Scout Exchange
• Teikametrics
• EverPresent
ON Partners surveyed only pure-play Internet and digital companies. Based on its research, the company believes that the businesses surveyed represent more than 90 percent of the Internet and digital employees in New York and Boston. Major digital sub-sectors covered include consumer Internet, small business Internet, advertising technology, consumer payments and marketing automation. Excluded from the survey were digital-focused employees of “traditional” companies, consulting firms and digital ad agencies. ON Partners continually adds or subtracts companies for inclusion in the Index based on the criteria of employing 10 or more employees in either the New York or Boston metropolitan areas. ON Partners’ Digital Jobs Index is current as of September 30, 2016.
About ON Partners
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 http://www.onpartners.com.
Jay Roberts, Roberts Buchanan Associates, http://onpartners.com, +1 (212) 924 2582, [email protected]
Share this article