Hiring Trends - Is EdTech the new SW?
The boom in Edtech is like going back in time and watching the Splunk’s, AppDynamics and ServiceNow’s of the world. We are watching the best talent on the planet clambering over each other to get in. Going through the incredibly arduous processes to be selected as the top 1%. Why is this happening?
Well first of all, smart investment are choosing it. Why did investors previously choose SW? The simple answer is to make money. They can be incredibly fast-growth, scalable and lead to eye-watering IPO’s or acquisitions. Former AppDynamics (and Blade Logic) Jeremy Duggan who is now at Multiverse (EdTech) said ‘it’s the greenest industry he has ever seen’. You have salespeople at Multiverse earning 7 figures, so it seems that is pretty accurate. Multiverse have just landed a record-breaking Series C at $130MIL (valuing them at $875MIL) and have grown almost 4 times in 1 year. Udacity have recently had a valuation of a BILLION! The smart investment is now in EdTech and it’s very clear why.
So why are they experiencing this kind of growth? Every company out there has 3 major issues nowadays:
- digital skills gap
- diversity
-retention
People like Multiverse and Udacity address all of these with their alternatives to education. Only 50% of the population goes to university, what happens to the rest? There are people from all walks of life who are utterly brilliant and their circumstances just do not permit the luxury of attending university, so how can they have access to the best careers? The careers that they deserve purely on their merit. EdTech is solving major business problems for clients whilst offering an incredible alternative to an antiquated and often unfair education system.
So, what does that mean for candidates who would usually pick SW as the best possible career choice for their growth, learning and earning potential? Has the pendulum swung? It certainly would seem that way. As EdTech continues to explode, candidates need to be open-minded. Why did they originally pick SW? It’s fast-growth, they get to constantly learn and grow, it’s usually a cool brand, it is often disruptive and solves a major problem and they can earn a fortune. EdTech is all of this on steroids right now!
My advice to the best on the market right now is, don’t say no to EdTech because it’s not SW. As yourself why you choose SW for your career in the first place!
How PwC is upskilling 284,000 people
"Here’s a truth we learned first-hand at PwC: you can’t hire your way out of a skills gap, you need to reskill and upskill your existing workforce. It’s not just a HR issue, it is a business imperative"
Multiverse, the tech-focused apprenticeship startup, nabs $130M at an $875M valuation
