Summer 2023 Job Market Update

Content Contributors: Mark Newhall, Henry Hannon, Heather Holland, Silvia Bajo, Kerri Tierney, Danielle Cañas

MARKET UPDATE – JUNE 1, 2023

The job market is holding steady and job-seeking candidates reported full-time and internship offers, in some cases multiple offers, throughout the month of May. Offer rates continue to track closely with the last two years of recruiting, which were strong years for jobs.  

Last year, we observed a trend of increased hiring in June, even for internship opportunities, so in the first weeks of June, we expect full-time and internships offers to continue rolling in from the just-in-time hiring market, especially from growing companies and startups.  Full-time offers are typically reported at a steady rate through June, July and August.

For those tracking the health of prospective tech company targets, we are sharing a new resource for tracking layoffs: Crunchbase Layoff Tracker. Layoffs.fyi, shared in the spring updates, also has info on tech layoffs – be sure to check out their charts, which show that tech layoff levels are steadily dropping in the current market, after peak layoffs months in November 2022, and January and February 2023. 

If you have any questions about a job or internship offer, please reach out to your career advisor or coach to discuss them. Email askcdo@mit.edu if you are unsure where to start; and be sure to mention if you have an offer or are negotiating an offer so we can expedite your request to an advisor or coach.  

SEEKING OPPORTUNITIES?

We’ve relaunched our Featured Jobs on Your CDO to highlight incoming just-in-time jobs, and we encourage you to apply quickly if you are interested.  

Connect with your career advisor or coach about your target industries and companies so they can make you aware of any opportunities they learn about; and take a moment to make sure your employment profile in Career Central is accurate.  

Companies are continuing to post opportunities, including these companies that have posted jobs in the last 2 weeks – check out new opportunities on Career Central and apply promptly if you are interested: 

Featured companies with new job posts: 

ACTIVATING OPPORTUNITIES

We are launching two new job tools within Career Central this summer. 

The first is a Resume Referral tool. Employers who post jobs will automatically receive resumes of candidates whose profiles match the job. Make sure your profile is up-to-date in Career Central to ensure your resume is shared with employers who post jobs relevant to your areas of interest. 

The second tool is an AI-enabled JobMatch job board. This tool, which is rolling out to MBA 2023, MBA 2024, and MSMS 2023 this summer, uses AI to provide a more robust and targeted selection of opportunities, sourced not only from the CDO, but from a select group of company and industry websites with relevant opportunities.

CAREER RESOURCE UPDATES

Graduating students have access to career resources through the CDO. See the Alumni Career Community for full details. 

PitchBook Users: Reset Your Account by June 30
If you are using PitchBook for company research this summer, reset your account by June 30 for uninterrupted access. Graduating students will continue to have access to Pitchbook until January 1 after graduation, but you must reset your account. 

Job search tip: Sign up for PitchBook Alerts to receive updates on companies that are getting funding—a handy way to identify companies with the capital to hire new team members. 

Capital IQ
Students will also continue to have access to Capital IQ through September after graduation.