AI is shaking up tech hiring, slashing entry-level jobs like it’s no big deal. Major tech firms chopped graduate hiring by 25% in 2024 compared to 2023, leaving thousands of newbies out in the cold. Startups aren’t immune, cutting back 11% year-over-year. SignalFire’s data, from a massive pool of over 600 million workers, points straight to AI as the culprit. These roles? Mostly routine stuff that generative AI gobbles up without breaking a sweat. It’s a real shift, not just isolated hiccups.
Meanwhile, big tech is pivoting hard, boosting hires for experienced pros while ditching entry-level spots. That’s a blunt strategy change, with 40% of employers eyeing cuts where AI can take over. Companies now crave folks with advanced skills, sidelining fresh graduates like yesterday’s news. AI’s beefing up complex work, making lower-tier jobs feel obsolete. Executives from major banks are considering significant cuts to junior staff hires, further tightening the job market for new entrants.
Big tech’s pivoting hard: hiring experienced pros, ditching entry-level jobs as AI gobbles up the basics.
Recruitment trends? They’re screaming for AI-savvy experts, while routine gigs vanish into the digital ether.
On a global scale, AI’s impact is no joke—potentially wiping out 300 million jobs soon. Already, 14% of workers have been displaced, and in rich countries, 60% of jobs hang by a thread. Younger folks, aged 18-24, are freaking out, 129% more likely to worry about getting axed than their older counterparts. By 2025, a whopping 30% of workers fear the AI takeover. Moreover, 40% of jobs worldwide are exposed to AI, heightening the risks for many sectors.
But hey, it’s not all doom. AI’s spawning new opportunities, with related roles making up 9.5% of U.S. software jobs. Banks and other sectors jacked up AI headcount by 13% in just six months. Think AI engineers, prompt designers, ethics leads—fresh gigs that demand tech fluency and quick thinking. For instance, prompt engineers are in high demand, with salaries expected to exceed $140,000 in 2025.
Still, it’s a mixed bag, offsetting losses with this shiny new demand.
Looking ahead, the Bureau of Labor Statistics predicts 17.9% growth in software developer jobs through 2033, even with automation creeping in. Automating half of global tasks? That’ll take another 20 years, so change is coming, but not overnight. AI’s reshaping everything, and it’s equal parts exciting and terrifying.
