What does the 2022 Hardware Acceleration hiring market look like?
The hardware acceleration industry is starting to really take off. I believe that we are only at the precipice of the hardware acceleration boom for many reasons. Not only because key chip manufacturers are pushing hard for top talent, but because there is a huge amount of venture capital (VC) funding being pumped into startups. It feels like a real renaissance when it comes to chip startups – there is finally tonnes of innovation and disruption – and it has been a long time coming.
According to a comprehensive research report by Market Research Future (MRFR), “Global Hardware Acceleration Market information by Type, by End User, by Application and Region – forecast to 2027” the market is expected to grow from USD 3.12 billion in 2018 to USD 50 billion by 2025, at a CAGR of ~49%.
The perfect storm of demand for compute-intensive systems and applications (datacenters, drug discovery, autonomous systems, space travel etc.) applied machine learning research and a worldwide chip shortage has created a huge demand for all kinds of hardware, software, and machine learning individuals.
All companies are having to be hugely competitive to keep up to bring on and retain top talent. There is so much competition currently; companies that are not offering competitive packages or giving great (and speedy) interview experiences are being left by the wayside.
WHAT TO LOOK OUT FOR IN 2022
What we’re going to see in 2022 is even more demand for top talent, far more VC funding, and salaries and packages continuing to escalate. Many individuals who never considered jobs working within hardware companies are now having their heads turned due to the sheer amount of innovation currently happening, especially using machine learning.
Importantly, the industry will continue to see a rise in remote working and companies which refuse to conform will not be able to attract top talent and will see a far slower rise in growth. What has been very apparent from 2021, due to the rise in remote working is that we’ve seen a sharp rise in Silicon Valley salaries being offered across the whole of the USA, forcing other tech hubs (Boston, New York, Austin etc.) to be even more competitive or lose out on talent.
In 2022, my estimation is that you will continue you find many people come away from the leading tech companies (both hardware and software) to pursue more exciting challenges in startups. This is due to a few key reasons a) we are on the tail end of COVID-19 and so individuals that joined big companies for security are now feeling more at ease in the apparent buoyant market b) there is plenty of VC funding at small companies so packages can be more competitive c) much more startups, more innovation, more interesting work + quicker pace.
It’s going to be a busy year for everyone, but a truly exciting one at that!
DEEP DIVE INTO HARDWARE ACCELERATION
To give an insight into the current market for hardware acceleration talent, let’s look at some statistics below (provided by LinkedIn Insights):
TYPICAL ROLE TITLES
Software Engineer | Senior Software Engineer | Founder | Data Scientist | ML Engineer
INFORMATION ABOUT THE TECH USED
Not surprisingly, Machine Learning, Python and C++ are top-ranking skills used by Hardware Acceleration professionals.
WHERE IS THIS TALENT LOCATED?
Let’s take a look at the profile of Hardware Acceleration candidates and who was making big moves in the industry in the last 12 months.
San Francisco | New York | Seattle | Boston | Washington DC
Number of Hardware Acceleration Professionals
WHO IS EMPLOYING THIS TALENT?
Who are the top 20 companies employing Hardware Acceleration talent?
WHAT DO THEY LOOK FOR IN NEW EMPLOYERS?
Large companies are offering pretty standard benefits and many startups are increasingly offering unlimited paid time off.
WHICH BENEFITS ARE MOST IMPORTANT TO THEM?
Remote/flexible working, healthcare, and childcare allowance.
WHAT IS THE AVERAGE SALARY OF INDIVIDUAL CONTRIBUTOR HARDWARE ACCELERATION PROFESSIONALS?
$140,000 (entry-level) – $350,000 (Principal)
Base + Share Options + Sign On Bonus
For roles spanning software, hardware, and machine learning. Signing bonuses are becoming much more common and we’ve seen signing bonuses of $100K at startups being offered to attract top talent.
$300,000 – $800,000
Base + Bonus + RSUs + Sign On Bonus
Typically, we’ve seen between $300K – 800K for individual contributor roles. For team lead and engineering management, we’ve seen up to the million mark and above.
WHAT UNIVERSITIES ARE PRODUCING HARDWARE ACCELERATION TALENT?
WHAT DEGREES DO THESE PROFESSIONALS HAVE?
There is a massive shortage of talent across the board, and we have particularly noticed the most significant lack of talent with the biggest demand for people with direct experience with machine learning accelerators (due to being a pretty new part of the industry) and even more so for Compiler Engineers.
A Talent Report disclaimer…
A heads up on the talent report: it’s tough to find out what the talent spectrum really looks like because of LinkedIn’s functionality within insight reports. The sample talent pool I’ve taken is essentially searching on specific ‘skills’ (as they are specific, they are quite limiting) that people list on their profiles. In this case, I’ve searched on an individual that must-have (one of many) machine learning skills combined with must have (one of many) hardware skills. The problem with this is that it won’t catch many people who are involved in the industry (all software, hardware and machine learning) who don’t list their skills in this specific way that are integral to the hardware acceleration industry, but hopefully, it provides a good subset of what’s going on the industry.
LET'S STAY IN TOUCH
In this report, we really wanted to delve into hardware acceleration as a key growth area, though of course, we work in numerous specialist areas (silicon photonics, biotech, and more). For any further information about the statistics in this report or other information about other areas, and advice on how to attract talent and hiring processes, feel free to contact me for a chat.
Chief Operating Officer - Acceler8 Talent
Phone: (857) 239-0148
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