The report was produced in partnership with the Greater Nashville Technology Council and underwritten by Asurion and the Nashville Area Chamber of Commerce. It was released with a panel discussion (video above) of local talent hiring experts at the 2019 Greater Nashville IT Summit, including:
- Monica Greene, Manager, Technical Delivery and Optimization, naviHealth
- Marcus Magee, Director of IT – Marketing Systems, Tractor Supply Company
- Nathan Wright, Director of IT, United Derm Partners
Key findings of the report include:
- In 2018, the number of tech jobs in Middle Tennessee totaled 49,465. This represents a year- over-year increase of 7.3% from 2017 (46,099). Tech jobs constituted 4.3% of all regional jobs in 2018, which is roughly the same as it was in 2017.
- From 2013-2018, the number of tech jobs in Middle Tennessee grew by 34.0%. This rate of job growth outpaced national tech job growth by 14.0%, statewide tech job growth by 10% and overall job growth in Middle Tennessee by 17.0%.
- The projected growth rate for tech jobs in Middle Tennessee (2018-2023) is 15.0%, compared to 9.0% projected national tech job growth, 13.0% projected statewide job growth, and 10.0% projected growth across all occupations in Middle Tennessee.
- Median compensation for tech jobs in Middle Tennessee was $72,112 in 2018, which was a 1.0% increase over 2017’s median compensation of $71,370. In 2018, median compensation was 13.2% below the national median for tech jobs ($83,111) and 92.4% above the median compensation across all occupations in Middle Tennessee ($37,489).
- The average number of new monthly tech job postings marketed to the region was 4,599 in 2018, which was 4.8% lower than what would be expected for a region this size (4,832). Compared to 2017, however, the difference between observed and expected posting volume was greatly reduced. The average number of postings in 2017 fell 14.3% below regional expectations. This indicates that demand for tech-related work is growing in the region.
- The average number of new monthly job postings in 2018 (4,599) represents a 51.6% increase over the postings volume observed in 2017 (3,034). In interpreting this increase, it is important to note that there is not necessarily a one-to-one relationship between a job posting and a tech job located in the region. Postings volume measures jobs that are marketed to a given region regardless of the location of the posting company. The substantial increase observed in tech job posting volume is likely attributable to both general growth in online postings volume and actual growth in local tech job demand.
- The Software Developers and Programmers occupation group had the highest demand with an average of 1,287 new unique monthly job postings in 2018. Posting volume was 14.4% lower for the occupation group than would be expected for a region this size, but the gap was greatly reduced from 2017 when posting volume for this occupation group was 26.9% lower than the regionally adjusted national average.
- Women comprise 50.9% of the population in Middle Tennessee, 48.6% of the workforce as a whole, and 36.0% of tech workers. Female representation in regional tech roles rose 1.5% from 2017 to 2018.
- Non-white workers comprise 28.9% of the local population, 25.5% of the regional workforce, and 21.0% of the regional tech workforce. The percent of jobs held by non-white workers decreased slightly (0.8%) from 2017.