Finding a new job or making a career change isn’t as straightforward as it once was.
According to a report by job search engine Indeed’s Hiring Lab, last year it took an average of 27.3 weeks to secure a new role — that’s half a year. This figure spans a wide spectrum, from same-day hires to top-tier positions like CEOs and medical professionals.
And in 2024, you can expect longer job searches. “Job growth is slowing,” said Nick Bunker, director of economics research at Indeed Hiring Lab.
Additionally, layoffs are projected to continue, with up to 90% of employers admitting to “over-hiring” during the Great Resignation, according to Randstad RiseSmart’s Global Severance Research report.
The focus now shifts to “right-sizing.”
Despite these challenges, New York City and the tri-state area offer a brighter outlook than much of the country.
The well-diversified economy and the efforts of the New York City Economic Development Council to attract new industries contribute to this positive scenario. New York City boasts a gross metropolitan product of $2 trillion, surpassing entire countries like South Korea and Australia.
Plus, the city hosts a thriving startup community, the second-largest tech sector in the US, a growing green jobs marketplace and a vibrant hospitality industry.
Adrien Lesser, VP of media relations at the New York City Economic Development Council, highlighted the city’s resilience. “In October, New York City surpassed pre-pandemic total job levels, hitting an all-time high for the city,” she said.
However, the surge in job seekers and ease of applying created by job sites has made recruiters inundated with applications.
Lexis Clavet, senior manager of talent acquisition at Click Therapeutics, recommended a strategic approach. “Include a cover letter,” she said. This simple step helps recruiters identify applicants genuinely interested in the position, setting them apart from those using Internet tools to apply to numerous jobs simultaneously.
Here are 2024’s top prospects for local job seekers:
Tech
Jobs are booming, with 8% of the city’s residents working in the sector. While giants like Google and Amazon Web Services have been both applauded and shamed for their layoffs, TikTok is hiring quickly; some jobs pay close to $300,000.
Smaller tech companies like Betterment, Celonis, Click Therapeutics, Ramp and Wonder are in growth mode and thriving.
Clavet emphasized the importance of an employee’s ability to balance multiple priorities. “We look for people who are agile, flexible and enthusiastic about our business,” she said. Worth noting, too, is that most startups are in growth mode making their profitability less of a factor.
Health care
This stands out as one of the city’s largest industries, experiencing rapid growth, adding 80,200 jobs in the past 12 months. Northwell Health, for example, employs over 85,000 workers, not limited to doctors and nurses but also including professionals like Michelin-star chefs and workers from various other fields.
Major health care systems like Mount Sinai (around 2,200 open jobs), NYC Health and Hospitals (around 3,200) and Northwell Health (around 2,250) have thousands of open positions across various roles, from doctors and nurses to IT professionals, maintenance mechanics, window washers, physical therapists, psychologists, cooks, dietitians, accountants and more. “A hospital is like a city,” said Jonathan Sobel, VP of strategic workforce planning at Northwell Health, emphasizing the need for varied talents and diverse employees.
Going green
With a global push to combat climate change, green jobs are on the rise. Approximately 70% of employers are actively planning to hire individuals with expertise in this field.
The city’s green industry, currently employing 133,000 workers, is projected to grow to 382,000 jobs by 2040. Companies like Phood, which leverages artificial intelligence and computer vision to help grocers reduce food waste, are seeking individuals passionate about sustainability, software engineering, or with experience in selling to grocery stores.
Other greentech startups include Air Company in Soho and Runwise and Bowery Farming in Chelsea among many others. Pay varies by position at these startups where stock grants and options may be part of the incentives.
If you’re a passionate job seeker who is afraid of being a nag, worry not. Luc Dang, founder of Phood, emphasizes the value of persistence for those aspiring to work in this field.
Hospitality
The accommodation and food sector added over 15,900 jobs in the last 12 months, and is anticipated to grow further when inflation rates fall.
Restaurants and events businesses under Hell’s Kitchen Hospitality Group, Overthrow Hospitality Group, SA Hospitality Group and Union Square Hospitality Group almost always have open positions.
Indeed lists 3,436 open roles in the food sector. The most common roles range from executive chef, waiter, pastry chef and events chef to barback, bartender, food runner and more. Pay ranges vary. “Standing jobs” in almost any profession are expected to see growth in 2024.
Some less-expected jobs in New York’s accommodation sector, like director of revenue management, director of learning and development, director of engineering and director of labor relations, pay up to $180,000 and experience from other industries may be applicable.
Fashion
Given New York City’s status as the fashion capital of the world, roles focused on impressing and influencing the elite are not just crucial but also lucrative.
Directorial positions at Michael Kors, PVH’s Calvin Klein brand and Tiffany offer salaries as high as $210,000. For those climbing the ladder in the industry, look for jobs in styling at companies like Ralph Lauren, Black Flower Agency, Splashlight, Symrise and more.
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