Closing the Tech Talent Gap
Demand for coders is outpacing the supply by nearly 2 to 1. Today, there are roughly 700,000 open software development positions in the United States. By 2020, that number will reach 1 Million. This year alone, another 125,000 positions that require coding skills will be created, yet we can't build our skilled workforce fast enough to plug the whole.
Each year, colleges and universities graduate about 33,000 Computer Science students and an additional 30,000 computer science -related graduates. Coding bootcamps add another 20,000 to the workforce.
Demand to find people with coding skills is so high that salaries are increasing by as much as 9 percent per year. That's great if you've got the skills, but what if you're the one hiring? Employers are playing a zero sum game - robbing Peter to pay Paul, and at their own expense.
Demand for coders is expected to continue growing, increasing 17 percent by 2024. Where will we find the talent?
One in five jobs today are in a STEM related field, but 38 percent of students who start in a STEM major don't ever finish their degree.
96% of Educators say students are prepared for the workforce.
Only 11% of Employers agree.
Why NOT traditional Higher Ed?
Only 1 in 3 working coders has a computer science degree today. But why, especially when there are so many opportunities?
Bachelor's degrees cost a lot, and most people don't complete it in 4 years anymore. Only 19 percent of students at public schools finish in 4 years.
68 percent of students graduate with student debt, and the average student finishes with more than $30,000 to pay off.
Even more so for second career adults, a 4 year degree is just too expensive, and it takes way too long. Drawn out schedules don't fit the plans for working adults - those with other life obligations - mortgages, car payments and mouths to feed.
Most importantly, traditional college programs don't have the flexibility or scale to adapt curriculum for the most up-to-date employer needs. So, while students learn that theoretical applications to enable them to pick up new tools quickly, they graduate lacking a knowledge of the libraries, tools, and frameworks they will encounter in the workplace.