Tech shortage and nearshore savings

The Shortage of Technology Professionals in the United States

The shortage of technology professionals, including programmers, engineers, and analysts, has intensified in the United States due to the increasing demand for specialized skills and a limited supply of qualified talent.

Growing Demand

The rapid adoption of emerging technologies has significantly increased the need for experts in artificial intelligence (AI) and cybersecurity. Companies across various sectors are investing substantially in AI, leading to fierce competition for professionals with expertise in this field. According to Deloitte, job postings in the U.S. requiring generative AI skills increased by over 1,800% in 2024. (Deloitte)

Supply and Demand Gap

Despite the high demand, the education system has not been able to produce enough graduates in critical fields. CompTIA reports that the replacement rate for tech occupations from 2024 to 2034 is expected to average around 6% annually, equating to approximately 350,000 workers each year. (CompTIA)

Annual Salaries by Role (Comparison: U.S. vs. Latin America)

The following table presents a comparison of average annual salaries for technology professionals in the United States and Latin America (Colombia, Argentina, and Uruguay combined), along with the estimated cost savings when hiring from Latin America. All figures are in U.S. dollars.

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As an example, the total annual cost for a technology squad consisting of one Project Manager (PM), one AI Specialist, one Senior Software Engineer, one Junior Software Engineer, and one Systems Analyst in the U.S. amounts to $620,500, whereas hiring the same team in Latin America would cost $329,115, representing an estimated 47% savings.

Industry Impact

The lack of qualified professionals has led industries such as banking to aggressively compete for tech talent, offering advanced AI and machine learning projects to attract these professionals. (Deloitte)

Challenges in Immigration Policies

Immigration policies also play a crucial role in the availability of tech talent. The H-1B visa program, which allows companies to hire highly skilled foreign workers, has been a subject of debate. While some argue that it is essential to fill specialized positions, others believe it may impact job opportunities for domestic workers. (Deloitte)

Conclusion

The shortage of technology professionals in the United States is a multifaceted challenge that requires comprehensive solutions. Addressing this gap will necessitate efforts in education, immigration policies, and talent retention strategies to meet the needs of an increasingly digital economy.

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