A university diploma does not always ensure the chance to work in your specialty, and it is disappointing when years of hard work and investment do not deliver the anticipated results. Moreover, in the majority of professions, if you don't have a diploma obtained from a prestigious university abroad, attempts to find a job in other countries may turn out to be unsuccessful. However, it is a different story in the tech sector, where the supply of duly qualified workers cannot match high demand, and education is a cross-border solution, because the language of technology is universal and can be put to good use anywhere in the world. The global HR platform Deel has conducted a study of which subjects students should study in order to compete in the international job market.
According to the Deel Global Hiring Report data, which collates information on over 260,000 employment contracts in 160 countries, at the start of 2023, the trend of hiring remote employees was growing globally, including in Latvia. Despite the fact that tech companies all over the world laid off professionals en masse last year, programming engineers are still the most in-demand remote work professionals not just in Latvia, but also elsewhere around the globe. It is a similar story in regard to other IT professions including programmers, designers, statistical analysts and sales specialists, who are often in considerable demand to fill vacancies.
“Although Information Technology has become a contemporary business card, we find ourselves in a crisis, because there's lots of work, but no employees. Meanwhile, every year we see more and more young people striving to put their foot in the tech sector door. Experience tell us that even at the start of their professional careers, the new generation are already seeking higher salaries than those earned by a middle-level manager. Of course, businesses vary, but the IT industry as a whole stands out because its salaries are competitive, even for new kids on the block who are still trying to fathom the difference between a UX designer and a Java developer. But remuneration is not the only reason why it is worthwhile studying in the field of technology,” says Liina Laas, Head of Expansion CEE at Deel.
According to the World Economic Forum's Future of Jobs Report, over the next five years, technology adoption is going be the key driving force for business transformation. Over 85% of organizations surveyed are of the opinion that changes in their organization will be propelled by the increasingly intensive introduction of new and advanced technologies in daily work and expanded digital access. Broader application of environmental, social and governance (ESG) standards will also have a major impact. In turn, over 75% of businesses want to introduce big data, cloud computing and artificial intelligence in the next five years, while 86% are planning to integrate digital platforms and apps into their operations. It is anticipated that 75% of companies will switch to e-commerce and digital trading.
“In conditions of such demand, it is unrealistic to expect salaries to permanently remain much higher than those in other fields. As the number of technology specialists grows, the ratio between supply and demand in the job market will balance out. However, it is definitely worth contemplating the fact that the field of information and communications is among the most dynamic working environments. For example, businesses allow employees to divide their work time between home and office as they choose. According to recent studies up to 78% of professionals in this field work remotely. This means that you're not obliged to leave your hometown if you don't want to. And this, in turn, poses no extra financial difficulties for a young person who has just graduated from school, because he doesn't have to start looking for a place to live in a foreign city right away. Moreover, lots of businesses believe that work can actually be performed anywhere in the world, and even support young people in their desire to spend some time working from Mexico or Australia for example. Therefore, for a generation that yearns for adventure, work poses no obstacle to them travelling abroad even outside their annual vacation,” explains Liina Laas.
Another key reason to choose an education in the field of technology is the fact that IT companies are notable for their burning desire to retain personnel, and offer their employees great development opportunities within the company. Therefore, if you get the desire to try out your skills in another professional discipline, you'll get the chance to do, and won't have to write one and the same code or analyse Excel for the next 20 years. Numerous contemporary CEOs have ended up in their current positions after switching from another position with the same company.
“However, the most important thing is that, regardless of the country or university where you got your IT education, everywhere you go, you'll be paid for these skills and knowledge. In practice, this means that you can work anywhere. For example, Estonian IT specialists are highly rated by IT businesses in the USA, UK, Canada, Germany and Malta. And at the same time, these people are not lost to Estonia. On the contrary, they are their country's business card and exemplify the quality of local education,” says Liina Laas.
Young people in Latvia too have the opportunity to obtain the great education available thanks to today's open borders: if you're not happy with the opportunities offered by your university, take advantage of those on offer from Erasmus exchange studies or check out possibilities to study abroad, including those available here.
Deel is the all-in-one HR platform for global teams. It helps companies simplify every aspect of managing an international workforce, from culture and onboarding to local payroll and compliance. Deel works for independent contractors and full-time employees in more than 150 countries, in compliance with local legislation. For more information, visit Deel.com.