As of August 2024, the executive job market is showing promising trends both in the U.S. and globally. One of the most significant shifts is towards skills-based hiring, which broadens the talent pool and brings in fresh perspectives. According to Hunt Scanlon Media, this trend is particularly noticeable in private equity-funded companies.
Executive salaries have also seen a notable increase, with a global average rise of 4.9% and a slightly higher 5.3% increase in the U.S., driven primarily by inflation. Sustainability leadership is in high demand as companies seek leaders who can integrate environmental and social responsibility into their business strategies without sacrificing profitability.
The use of AI in recruitment is transforming the industry, though it still lacks the nuanced understanding a human recruiter provides. Additionally, the emphasis on diversity, equity, and inclusion has created both opportunities and challenges, particularly for traditionally underrepresented groups.
Remote and hybrid work models continue to be significant perks for executives, with most professionals in high-level roles able to work remotely since 2020. Data-driven decision-making and digital transformation, particularly in AI, are also key competencies sought after in today’s market.
Certain niched industries are experiencing remarkable growth. For instance, fruit and nut farming is expected to see a 28.1% revenue increase, driven by demand from wineries and export markets. Solar power and kombucha production are also projected to grow by 26.4% and 24.5%, respectively, highlighting the diverse opportunities available.
In the U.S., healthcare, professional services, and construction are leading job growth, while globally, IT, renewable energy, and healthcare sectors are booming. For executives, these trends mean numerous opportunities to find roles aligning with their skills and values.
At Career Resume Consulting, we specialize in helping professionals navigate this dynamic job market. Whether through one-on-one executive services or our new small cohort program, CLIMB, we’re here to help you achieve your career goals.
