Snapshots

In the war for talent, New York and Washington, DC among the top producers of advanced degrees in STEM, graduating 31,000

With unemployment for individuals with a Bachelor’s degree or more at a record low of two percent, companies requiring new talent to grow their businesses would do well to look toward fostering relationships with and attracting students directly out of school.

in-the-war-for-talent-advanced-degrees
  • With unemployment for individuals with a Bachelor’s degree or more at a record low of two percent, companies requiring new talent to grow their businesses would do well to look toward fostering relationships with and attracting students directly out of school. Particularly in STEM (science, technology, engineering, and math) fields, which have always been in high demand, positioning a technology growth operation near the greatest number of newly minted graduates may prove to be an excellent talent branding and marketing strategy. 
  • While innovation can come from anywhere, companies on the cutting edge must carefully consider where they can access the most advanced engineering talent to grow or sustain a competitive edge. Uber’s entry into the Pittsburgh market, where the company promptly hired away the entire faculty from Carnegie Mellon’s Computer Science Department, is one practical example of this strategy. 
  • Based on this talent thesis, it may come as no surprise that the New York and Washington, DC metropolitan areas, which produce a combined 31,000 new Master’s and PhDs annually, are rumored to be at the forefront of the biggest technology company headquarters race of all time. Examining the entire East Coast Corridor from Boston to Washington, and this number increases to 48,000. From a talent retention standpoint in Philadelphia, we must ask ourselves: where do our 6,000 advanced STEM degree holders go every year?

 

Source: JLL Research, Emsi

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