Main image of article Tech’s Winning (and Losing) Jobs in 2024

As we kick off 2024, the market for tech jobs and skills continues to experience the same highs and lows that characterized 2023.

In fact, volatility in the value of popular skills and certifications reached a three-year high in 2023, according to the IT Skills and Certifications Pay Index from Foote Partners LLC. Tech companies laid off more than 260,000 workers while rehiring for different positions and skillsets.

Specifically, companies are redirecting investments into applied artificial intelligence/machine learning (AI/ML), cloud, data science and data privacy while cutting spending in other areas, leading to the reallocation of talent, explained David Foote, Foote Partners’ chief analyst and research officer.

The pace of technological change is also causing managers to seek out highly agile pros who can acquire adjacent skills and transition into overlapping roles with relative ease, Foote added.

To help you plot you next career move by staying ahead of trends, here’s a look at the roles and skills that gained (and lost) value during 2023 and are positioned to continue down the same path in 2024.

Jobs and Skills Trending Upward

Artificial Intelligence/Machine Learning

The new era of AI is here.

We are seeing more companies transition from generative AI to actually applying AI and ML knowledge and technology to real-world business problems, such as increasing sales, reducing costs or improving the customer experience, Foote said. As predicted, this shift is causing tech roles to evolve, with some becoming obsolete while new ones emerge that pay high salaries.

According to Foote, the most in-demand positions include:

The extra pay awarded by employers reflects the robust demand for AI/ML expertise. The following skills and certifications ranked high in Foote Partners’ latest survey, garnering pay premiums of 10 percent to 20 percent of annual salary over the last six months of 2023:

Cloud

While cloud-computing adoption has increased the demand for cloud engineers, architects and developers, this is only the tip of the iceberg. Hybrid cloud environments are becoming increasingly popular as companies look to implement real-time big data analytics, increase capacity and resiliency, and reap other benefits.

As a result, the IDC predicts that spending on cloud solutions will reach $258.5 billion by 2027 and create one million new jobs in fields relating to public cloud services within the next year.

If you’re looking to cash in on the cloud computing craze, acquiring any of these skills and certifications can help you qualify and garner premium pay of up to 18 percent of base salary:

Information/Cybersecurity

With many software developers, architects and engineers acquiring foundational knowledge of threat identification, security standards and practices, tech leaders have started shifting budgets toward highly specialized roles that also require knowledge of data privacy and protection regulations.

In fact, professionals with data privacy skills saw their market value rise by 41 percent over the last six months of 2023. The top in-demand cybersecurity jobs for 2024 include:

Cybersecurity is an area where certifications command the highest value and premium pay. The following certifications garnered cash premiums of 10 percent to 15 percent and recorded substantial gains in cash market value over the last six months of 2023:

Data Science/Data Analysis

While professionals with data science expertise were able to command premium pay of 18 percent of base salary over the last six months of 2023, and will continue to see rising demand in 2024, they are among the workers who will be most impacted by AI. The advancing technology landscape, including the rise of AI/ML, is fueling the demand for data science professionals who also know AI.

In the near term, data scientists will be expected to use AI to automate analysis process, interpret data, identify patterns, and make predictions and recommendations. Having AI skills can significantly enhance the capabilities and market value of data scientists.

Other professionals who will benefit from the robust growth in the data analytics market include data analysts, data engineers, and data modelers as well as professionals in adjacent roles such as UX  designers, researchers and strategists.

Jobs and Skills Trending Downward

Routine Coding and Software Development

AI will continue to eliminate most routine programming jobs as well as manual coding positions, Foote warned. To have long-term job security, these professionals need to become involved in AI-assisted software development and focus on learning more complex and innovative tasks.

Level 1 Technical Support

Again, because automation technology and chatbots are capable of providing basic support, they are reducing the need for humans to handle most Tier 0 and Tier 1 inquiries.

Systems Administration

While system administrator jobs are not going away, conventional system administrators will need to learn additional skills and certs—such as cloud administration—to open new career paths and experience better job security in 2024 and beyond.