Israel's high-tech market has been action-packed in recent weeks, mainly because of exits at handsome values, such as the sale of Provigent Inc. to Broadcom Inc. (Nasdaq: BRCM) for $340 million and the sale of Snaptu Ltd. to Facebook Inc. for $70 million.
Not only has the values of start-ups risen, so has the value of employees. According data compiled for "Globes" by high-tech, financial, and biomed placement site Jobinfo, demand for high-tech employees in the first quarter was 21% higher than in the corresponding quarter of 2010. Employees continue to be a sought after necessity, and the supply exceeds the demand.
During 2010, companies launched new projects and injected capital into them. Companies are competing for star employees - employees with high grades in classes, or graduates of top universities. The competition is reflected in the salaries paid upon joining the labor force.
There was a 30% increase in the number of experienced engineers who resumed their job search during the first quarter, compared with the corresponding quarter. However, the number of new jobseekers with no work experience was 7% lower in the first quarter than in the corresponding quarter.
This trend indicates a gradual return to the job market of candidates who feel safe enough to promote their careers beyond their current job and employer.
"Whereas a year ago, every candidate had only one or two job offers at best, now candidates can choose between at least three offers," says Jobinfo software manager Shiri Mor.
Demand for software engineers was 35% higher in the first quarter than in the corresponding quarter. .NET and Java developers are most in demand. Hiring of employees in the hardware sector was up 21%. The increase is across the board, in large and small companies, and start-ups.
Hiring in the life sciences, especially by pharmaceutical companies, was 45% higher in the first quarter than in the corresponding quarter. This sector includes cleantech, where there was no increase in demand.
Demand for quality assurance workers at every level, including senior positions, in the biomed market rose in the first quarter. These employees are responsible for ensuring that products comply with international quality standards and are responsible for improving effieciency. Despite the increase in demand, there was almost no change in salaries in the sector.
Published by Globes [online], Israel business news - www.globes-online.com - on April 4, 2011
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