What to Do When You Get Laid off in the Tech Industry

Tech sector layoffs continue to fall upon the industry with big tech companies including Google, Zoom, and Microsoft at the center. It can feel discouraging to be in the midst of all that professional uncertainty whether you’ve personally been laid off or are worried for the future of your job. There’s good economic news though: the unemployment rate has held relatively steady for a couple of years, hovering between 3.4 and 3.7% according to the Bureau of Labor Statistics.¹ That means that even though there have been a number of high profile big tech layoffs, other industries are still hiring and doing relatively well.

How do you approach the job hunt if you’ve recently been laid off from the tech sector? Fortunately, you’ve got options. One strong option is to upskill and consider expanding your business acumen with a master’s degree. Combining your problem-solving skills and knowledge from your tech experience with a master’s in either business administration or business analytics could be the key to a new fulfilling job and a whole dynamic career.

Workers with skills in Web3, artificial intelligence, cybersecurity, and data science are some of the most in-demand at non-tech companies according to global consultancy, Bain and Company.² Now’s the time to strengthen your tech resume with the addition of a business master’s degree.

As an individual with tech skills, working at the intersection of management analysis and data science in business analytics, could be perfect for you. Business analytics focuses on solving business challenges and predicting future events based on historical data. Business analytics, like business intelligence, depends on a well-developed data infrastructure and tech stack for the storage and analysis of data. Projected demand for analytical roles, as high as 23%, is more than four times higher than overall job growth for all industries through 2031.³

Use your skills gained from an online MSBA to convert data into business solutions in fast-growing roles that include:^1,4

• Data scientist
• Database administrator
• Software developer or analyst
• Machine learning engineer
• Operations research analyst
• Market research analyst
• Management analyst

If you want to make a more distinct pivot from tech into business, then why not earn an MBA? With an MBA you could bring a key understanding of technology to management and executive roles that could be key for business development. The median starting salary for MBA graduates working in the U.S. is $115,000.⁵ Some of the many roles across industries that you can pursue with your Albers MBA include:⁶

• Marketing manager
• Business operations manager
• Financial manager
• Human resources manager
• Information technology (IT) manager
• Medical and health services manager

You may have never thought you would leave tech when you first got into the industry, but it’s ok to make a change when unexpected events come your way. As you read through the careers that could be available to you when you earn a business degree, you might feel an instant interest in one role or another, but it’s also good to think about the whole picture when faced with this incredible opportunity to do something new.

What were the things you loved most about your former positions? What, if anything, was missing from your tech career? If you decide to get out of big tech and into a new industry keep in mind other changes you might want to make, for example maybe you’d like to pursue a career that offers:

• Better work-life balance
• Remote working opportunities
• Enhanced benefits like unlimited PTO
• Continuing education opportunities
• Work that makes positive impact on your community

Although you might feel mixed emotions now, try to see how all of your previous experiences have taught you valuable lessons and helped you develop important skills. Aside from your tech skills, you likely have highly relevant soft skills for business and other industries. For example, you might have experience to demonstrate your abilities to:

• Collaborate and communicate with different types of professionals

• Think critically about a scenario to solve problems
• Manage your time effectively
• Pay attention to detail
• Adapt to project requirements

These skills could serve you well in industries like healthcare, finance, marketing, government, manufacturing and more.

Dynamic organizations across industries are seeking tech-savvy talent to help them move forward. Stand out from the rest of the job-seeking crowd with a graduate business degree from the Seattle University Albers School of Business and Economics.

An Albers online business degree is a solid investment that will fuel your long-term success. Financial aid is available from various sources, and the total cost of tuition for either the online Master of Business Administration or the Master of Science in Business Analytics is under $55,000. Our flexible online course delivery lets you continue earning while you learn, and the roles you’ll qualify for after graduation can help you quickly recoup the investment.

Build the skills and credentials that complement your experience in the flexible, values-centered online programs at the Albers School of Business and Economics. Our transformative programs and industry-spanning Fortune 500 alumni network can help you step beyond Silicon Valley and tech company layoffs to begin a satisfying new chapter in your career. Schedule a call with an Admissions Outreach Advisor to learn more.