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American tech CEOs love to complain that they can't find enough skilled workers, and they want the U.S. government to change its immigration policies to fix the problem. But it's a problem that doesn’t exist.
The real problem is not that there aren’t enough qualified workers to do tech jobs, but that tech companies simply don’t want to pay people enough money to do them, Bloomberg Businessweek’s Josh Eidelson pointed out on Monday, citing academic research.
Specifically, Eidelson quoted Rutgers professor of public policy Hal Salzman saying that tech companies looking for new hires “may not be able to find them at the price they want. But I’m not sure that qualifies as a shortage, any more than my not being able to find a half-priced TV.”
Salzman’s research found that 50 percent of computer-science college students don’t enter the tech industry after graduation. Thirty-two percent of the students Salzman surveyed said there weren't enough tech jobs available -- countering any idea of a worker shortage. Fifty-three percent of students said they “found better job opportunities outside of IT occupations." That suggests the relative pay of tech is the real problem.
Tech companies do pay well compared to the median U.S. income of $53,000. A few years ago, Business Insider reported that starting median salaries at big companies ranged from $55,000 to $87,000. But these companies are not competing to employ the median U.S. worker; by their own admission, they want highly skilled workers. Those 53 percent of tech grads who found better offers elsewhere suggest that tech companies pay less than some companies they are competing against for talent.
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The real problem is not that there aren’t enough qualified workers to do tech jobs, but that tech companies simply don’t want to pay people enough money to do them, Bloomberg Businessweek’s Josh Eidelson pointed out on Monday, citing academic research.
Specifically, Eidelson quoted Rutgers professor of public policy Hal Salzman saying that tech companies looking for new hires “may not be able to find them at the price they want. But I’m not sure that qualifies as a shortage, any more than my not being able to find a half-priced TV.”
Salzman’s research found that 50 percent of computer-science college students don’t enter the tech industry after graduation. Thirty-two percent of the students Salzman surveyed said there weren't enough tech jobs available -- countering any idea of a worker shortage. Fifty-three percent of students said they “found better job opportunities outside of IT occupations." That suggests the relative pay of tech is the real problem.
Tech companies do pay well compared to the median U.S. income of $53,000. A few years ago, Business Insider reported that starting median salaries at big companies ranged from $55,000 to $87,000. But these companies are not competing to employ the median U.S. worker; by their own admission, they want highly skilled workers. Those 53 percent of tech grads who found better offers elsewhere suggest that tech companies pay less than some companies they are competing against for talent.
Solving The Tech Worker 'Shortage' Is Easy: Just Pay Them More
Tech CEOs love to complain about a lack of skilled workers, and want the US to change its immigration policies for high-skilled workers to fix the problem. It turns out, this is a problem that doesn’t exist.
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