Banks and healthcare firms outbid tech for software talent, Randstad finds
Recruiter Randstad says non-tech employers pay up to 17% more for software engineers as demand for AI skills rises and tech layoffs reshape hiring.
At a glance
- Randstad found healthcare and life sciences firms pay up to 17% more for software engineers than tech companies, and banks 13% more.
- Job postings requiring AI capabilities grew fivefold over the past year, and 55% of non-tech employers are hiring after tech layoffs.
- US tech firms announced 165,925 job cuts in the first nine months of 2026, up 54% year on year, per Challenger, Gray & Christmas.
Banks, healthcare and life sciences companies are outbidding technology firms for software engineers, according to new research from the recruitment group Randstad, as rising demand for AI skills and a wave of tech layoffs reshape the market for technical talent.
Pay premium for AI skills
Healthcare and life sciences employers are paying up to 17% more than tech companies for software engineers, while banks are offering 13% more, Randstad found. The research surveyed 1,100 business and technology decision-makers across 11 countries, including the U.S., the U.K., France, Germany and Japan, and drew on 20 million job postings and roughly 100 million candidate profiles.
Sander van 't Noordende told CNBC's "Squawk Box Europe" on Thursday that these businesses "see massive potential in AI, realizing business cases that they were not able to realize before." He described a "massive investment wave in the technology sector" that is now "shifting towards businesses looking to find the benefits of AI."
AI postings up fivefold
Job postings requiring AI capabilities grew fivefold over the past year, the research found. In addition, 55% of the non-tech organizations surveyed said they were recruiting workers in the wake of tech-sector layoffs.
Layoffs at technology companies have continued through 2026. U.S. tech firms announced 165,925 job cuts in the first nine months of the year, a 54% increase on the same period in 2025, according to data from the consultancy Challenger, Gray & Christmas published on Oct. 1.
Microsoft has said it is offering voluntary buyouts to 60,000 employees. Oracle reported in June that its workforce had shrunk by 21,000 over a year, and Meta began layoffs in May affecting 10% of its staff, or about 8,000 jobs. In February, Jack Dorsey's payments company Block laid off more than 4,000 employees, nearly half its workforce.
Source: CNBC.
Questions and answers
- Why are banks and healthcare companies paying more for software engineers?
- Randstad's research says these employers see major potential in AI and can now realize business cases they could not before, so they are bidding up pay for scarce software and AI skills.
- How many tech jobs have been cut in 2026?
- US tech companies announced 165,925 job cuts in the first nine months of 2026, a 54% rise from the same period in 2025, according to Challenger, Gray & Christmas.
- Which companies have announced major tech layoffs?
- Microsoft has offered voluntary buyouts to 60,000 employees, Oracle's workforce fell by 21,000 in a year, Meta cut about 8,000 jobs and Block laid off more than 4,000.
