Technology is booming, but many are still struggling to make it through the transition.
And while you might be thinking about it, you’re not alone.
A new report by the consulting firm McKinsey & Co. suggests the tech industry’s “gut-level” jobs are actually harder than many people think.
The firm surveyed more than 600,000 U.S. adults, and found that only half of them had a job lined up for them that was either at a company with a big market or an emerging industry.
Of those, only half reported being ready to move to a new job within two years of graduating.
That’s a stark departure from what many tech workers are accustomed to, which is that a tech career typically comes down to two years at a startup and one year in the industry.
And McKinsey’s report finds that in many cases, that’s simply not the case.
“This is a huge, major issue,” McKinsey Senior Vice President Michael Kugler told Vice.
“It is a reality that is happening in a big way.
This is not a hypothetical problem.
It is a real problem.”
Kugler and his colleagues went through the survey and found a staggering percentage of the respondents said they were either unsure of their ability to land a new role or didn’t think they would.
“That’s what we saw in our survey,” Kuglers partner, Dan Sorensen, said.
“We saw this problem of the job market being too narrow for the number of people that are prepared to move up.”
While there is some evidence to suggest that tech’s labor market is “in a bit of a bubble,” the report found that the average age of respondents is still 27.
Only 22 percent of those surveyed have a college degree.
And even among those with college degrees, only 39 percent are working at tech companies.
“We know that there’s a lot of young people out there that have no real hope of finding a job in the future,” Kaugler said.
The problem is that they’re not prepared for a lot that comes with being a tech worker.
“The problem is they’re too young, they’re just not prepared to be part of the tech workforce,” Kucherson added.
“They’ve never seen a job that is remotely similar to what they’re seeing in the tech world.”
So why is the tech sector in such a mess?
In a few ways, the McKinsey report offers a solution.
The tech industry has a lot going for it.
It has a growing middle class and plenty of well-paid jobs for people who are either in school or working part-time.
The jobs in technology also tend to be well-defined.
There are only a few positions that require a college diploma, and that doesn’t mean those positions are hard to find.
And as the McKinseys report points out, there’s no shortage of talented people willing to take those new jobs.
So what is it that the tech workers aren’t getting?
And where do they go from here?
The McKinsey survey found that just 38 percent of tech workers have a “great deal of confidence” that they’ll find a new position within two to four years.
Of that group, 35 percent have a positive attitude toward the technology industry.
That’s just below the national average, which shows a slightly lower percentage of respondents having a positive outlook.
And although many tech jobs are filled by people who have an MBA or other type of degrees, the tech jobs in McKinsey said that the gap between the jobs available to tech workers is so wide that the majority of people who can land a tech job are already working in tech.
While that may not sound like a lot, it’s still a huge number when you consider the amount of money people are spending to get a job, as well as the job’s difficulty.
“It is still a great number of positions available for people with some type of degree,” Kauner said.