Looking for Software Engineer Jobs in Canada? Here’s What You Need to Know
Now is a great time to be looking for software engineer jobs in Canada. According to the Business Development Bank of Canada (BDC), the country’s tech sector is expected to grow by more than 5 per cent this year. The next five years also look positive.
However, the industry is struggling to find skilled workers. More than half of tech employers say they can’t find employees, while a third are struggling to retain them. Some companies have increased salaries by as much as 25 per cent.
Most In-Demand Software Engineer Jobs in Canada
Cybersecurity ranks among the highest-profile software engineer jobs in Canada. In fact, there are currently 25,000 cybersecurity job vacancies in Canada right now. Globally, that number balloons to 3.5 million.
The digitalization of society is driving so much of this job creation. It is also creating opportunities for cybercrime, like hacking or ransomware attacks.
Almost 40 per cent of Canadian businesses were victims of ransomware in 2020 and 65 per cent anticipated future attacks. Around the world, the costs of damages from cybercrime have increased from USD 3 trillion in 2015 to USD 6 trillion in 2021.
Investments in Software Engineer Jobs in Canada
In February 2022, the federal government announced an $80 million investment toward cybersecurity research. The National Cybersecurity Consortium works with 140 researchers from thirty-five post-secondary institutions, sixteen large companies, thirty small and medium-sized firms, twenty-six not-for-profit organizations, and eight governments and governmental organizations across Canada.
And it’s not just Canadian governments pumping cash into the tech sector. American investors are also investing.
As a whole, Canadian tech start-ups raised more than USD 13 billion in venture capital in 2020, with an average deal size of nearly USD 7 million. That number jumped to over USD 15 million in 2021.
Will a Recession Impact Software Engineer Jobs in Canada?
With the current levels of inflation, downturns in the stock market, and the war in Ukraine, many experts are speculating that the world is headed towards a recession. Further, high valuations for the tech sector stemming from the pandemic are starting to fall back down to earth.
Is there cause for concern for software engineer jobs in Canada? Not necessarily.
B2B software, which runs credit cards, cars, utilities, payrolls, insurance claims, supply chains, and more, has become foundational to the modern economy. And the good news is that Canada has a strong representation in this sector. There are presently around 600 Canadian B2B software firms. In 2017, that number was only seventy.
Canada’s tech sector is in a strong position going forward.
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