Software is rapidly reconfiguring the auto industry. Data is the new oil in tomorrow’s electric, connected and autonomous car. Demand for software engineers will likely increase three to four times by 2030, says consulting firm McKinsey.
Massive programming is needed for an electric vehicle’s operating system and for automated driving. The car’s adaptive cruise control, its cloud-connected services, automated braking and night vision systems all require sophisticated software. Lane-keep assist, infotainment and over-the-air updates also require code, and lots of it. In the race to build ‘laptops on wheels’ (Elon Musk), attracting and retaining software-development talent is a key priority for automotive organizations and their suppliers. It’s the start of a golden age for the ‘masters of code’.
If you’re a software engineer then your future looks bright! Demand for this profession will likely increase three to four times by 2030, says consulting firm McKinsey. More and more, businesses realize they need to build strong internal expertise in software architecture, integration and validation.
Recruiting talent is a challenge for auto makers, who compete globally for UX designers and AI experts with tech giants such as Apple, Google or Microsoft and other industries.
Executive recruiters point to a rapid rise in demand for software engineers that exceeds supply. Already today, top developers can ‘pick and choose’ between employers in Silicon Valley, Detroit, Munich or Shanghai and ask to work from anywhere in the world. The ‘masters of code’ know they can command a premium for their expertise – including high six-figure salaries, stock options and the coveted U.S. ‘Green Card’ residency permit – much to the dismay of hiring managers and HR departments at automotive companies, who are used to determining compensation based on more rigid salary bands.
Auto makers are learning they need to ‘pay to play’ if they want to attract top talent. Career paths, growth opportunities and a strong culture will help companies retain the experts they need to build tomorrow’s software-defined car.
Join us again this time next week – in the meantime, stay safe and charged!
-Christian Koenig