If you've ever met a computer software developer, you've probably heard about the perks they enjoy at work. One reason they are so well rewarded for their knowledge and skillsets is because companies know they are hard to find. Another reason is because the job requires specialized coding skills for certain software platforms and languages, meaning that one developer may a good fit, but another may not know the languages needed for that position, thus further increasing demand.
It's no mystery that software developers earn handsome salaries. But do you know why this career is more in demand today than it has ever been before? Here are the top five reasons why.
No. 1: Supply vs. Demand
When something is high in demand but short in supply, it drives up the value tremendously. As this relates to a career in computer software development, the demand has never been so great.
According to the United States Bureau of Labor Statistics, demand for this field is set to grow by at least 24% by 2026. What's more, the average annual salary is posted at $102,000 and the median pay wage ranges from $100,000 to $106,000, depending on what type of computer software career you enter.
In 2016, when the statistics were last compiled (they are only compiled once every four years), it was estimated that there were at least 1,256,200 open jobs in this field, representing a year-over-year employment change of 302,500.
No. 2: Growing Pace of Technology
Technology enriches our lives. Whether it's a smartphone, a smart speaker, virtual reality, newer computers and other types of technology rich devices we use every day, they are all powered by software. The rapid pace of expanding technology means that there needs to be more bodies at desks generating the code that powers this tech.
As companies lean towards automation as a new form of manufacturing, entire new sectors in software will be created as a result. These new industries grow alongside of technology and hope to match its pace. The future is exciting, but something has to power it. At the core are the coders making all of this exciting stuff work.
No. 3: Tech Startups
Over the past few years, more than $48 billion in investments have been made by venture capitalists into tech startups in the U.S., reports Investopedia. Tech firms are the most attractive because their fail rate is astronomically lower than other industries, and also because the probability of making a substantial return is much higher if the company succeeds.
Tech bubbles like Scottsdale, Silicone Valley and Seattle are hotbeds and have thousands of openings for jobseekers on any given day. Tech startups are not going anywhere, either, with disruptive technology being the primer for a technological revolution, the likes of which has never been seen before.
No. 4: Ecommerce
According to a Statisita projection, ecommerce in the U.S. will grow to more than $600 billion annually by 2022. While juggernauts like Amazon grab about half of all online sales on any given day, the other half are going to mostly mom and pop ecommerce sites. Guess what powers those backends? Software that's made by adept developers.
Aside from the shopping cart and marketplace software solutions, there are all the applications and integrations that are created by eager developers for these services. These add-ons are commonly hosted in the App Stores of shopping cart and marketplace service providers and represent one of the fastest growing sectors of the software industry.
No. 5: Specialized Field
It goes without saying that a computer software developer is a specialized field. It takes a particular mindset and drive to hone coding skills and to stay on top of the ever-evolving coding platforms. As these common programming languages continue in their evolution, and as new ones are introduced, the immediate vacancies in this field are growing exponentially.
Case in point: Microsoft recently released its quantum computing language, calling it the Q# programming language. A brand-new language, it's designed to power the quantum supercomputers of tomorrow. As you can imagine, there are not that many programmers who have even learned this language as of yet, resulting in a steady demand for computer software developers right now in this field.
Ready to pursue a career in computer software development?
Get the ball rolling by learning more about the computer software development program at Woz U.