Yes, there is a huge engineering talent shortage in Silicon Valley.
There are more companies trying to build disruptive technology that have
greater hiring needs than the available supply of engineering talent.
I currently work at Iterable,
and we are as of present a Series B company with around $30M raised
total. We get hundreds of applicants a week, but few of them are
qualified enough. I joined as the 3rd engineer of the company and now we
are around 20 engineers; virtually every single engineering hire on our
team has been an internal referral.
A company like Iterable is able to reward any qualified engineer quite
handsomely; but for these top candidates, they are often like the
proverbial kid-in-a-candy-shop and are highly sought after by multiple
companies working on the most exciting, cutting edge technologies.
Iterable is poised to be a unicorn or deca-corn some day, as we are
quickly becoming one of the essential, best-in-class tools for
omni-channel growth marketing automation.
I love to reason and explain concepts using analogies. If you look at
the world of professional sports, such as basketball or baseball, you
will know that it seems every year, only a few teams consistently make
it to the playoffs, semi-finals, and then finals. The teams that make it
to the post-season are a small fraction of the total number of teams in
the league; an even smaller fraction are serious championship
contenders.
If you equate working at a software company in Silicon Valley to being
an athlete that makes it to the MLB or NBA, then you will have a very
good idea of what people are talking about when it comes to shortage of
engineering talent. Many players are simply happy and consider it to be
a life achievement to make it to the pro-leagues; only some of the
players who are the hungriest and want to achieve greater success are
willing to put in the hard work and dedication to reach the upper
echelons of the game—whether it be basketball, or baseball, or software
engineering.
Furthermore, just as you have specialist positions in basketball, the
same also applies to software companies. To be a championship contender
(e.g. IPO, $1B+ exit, etc), you need the absolute best, top-notch talent
in each position — backend engineers, frontend engineers, infrastructure
engineers, security engineers, mobile engineers, etc, and finding top
notch talent to fill each of these positions is quite challenging and
difficult. It takes years and years to hone and finely tune the skills
in any particular area, such that for any position, there are only a few
candidates who possess the skills, and then even fewer who are available
and not already committed to another team, or working on their own
startup.
Hence, it is quite safe to say that there is a huge shortage of
engineering talent in Silicon Valley.
Edit:
Initially I did not think to make this a “recruiting” pitch for Iterable
(seriously), but just to give an idea of how good we have it, here are
some of our perks:
- Free lunches every day, catered by Zesty,
from a variety of top eateries in San Francisco. Fridays we can eat
out anywhere, with the team, and just Expensify it.
On several occasions we’ve eaten at places where it cost more than
$30 per head.
- Quarterly stipend of $300 for personal / professional development —
I use it to buy books, audio books, and an Audible subscription —
for any employee, not just engineers.
- Monthly stipend of $160 for gym membership. I use it for gym
membership and workout sessions with a personal trainer — for
all employees.
- Quarterly team off-sites — this past week we did an escape room as
an engineering team, for team bonding
- Semi-annual (twice a year) company outings — an annual sailing trip
on the San Francisco Bay, and an all-expenses-paid company retreat
(we went to Bodega Bay this past year)
- Monthly all-hands and office happy hour with lots of beer and
delicious food. I don’t really drink, and there are lots of
non-alcoholic options
- Fully stocked kitchen, refrigerators, and snacks with fresh fruit,
kombucha, Stumptown coffee, Quest protein bars, Krave beef jerky,
Tcho chocolate, etc luxurious snacks
- Expense ANY computer hardware, monitors, or desktop equipment.
Some of my teammates have dual 34″ ultra widescreen curved monitors
and $300 mechanical ergonomic keyboards and vertical mice
- Expense ANY resources needed (software, IDE, books)
- Flexible vacation, flexible hours, and flexible location (remote)
- Interesting guest speakers and world-class learning opportunities —
the former CEO of Twitter, Dick Costolo, came in for a fireside chat
Here are some photos from the above mentioned team outings: Iterable
Even with all of these amazing perks, not to mention being able to work
with some of the top minds and high achievers in the industry,
we have been having such a hard time finding engineers that meet our bar
for good talent and good culture and team players (you see, just
like in sports, sometimes you have superstar athletes who are not team
players, and these would be simply toxic to your organization).
Iterable is currently ranked at #1 on the SaaS1000.
If you’re out there, would you please DM me?
Edited Oct 27, 2017:
Someone just shared this article with me that describes the housing
crisis not just in Silicon Valley, but in all of California: https://www.bisnow.com/national/…
There is a severe engineering talent shortage in Silicon Valley, and
that goes hand-in-hand with the housing shortage in California.
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