The State of the Software Development Market in 2024: Should You Worry About Oversaturation?

The software development industry has seen its fair share of fluctuations over the years, and as we step into the final quarter of 2024, many aspiring developers and seasoned coders alike are pondering the same question: Is the software engineering market oversaturated?

With an influx of bootcamp graduates, self-taught programmers, and yearly waves of fresh computer science graduates, it’s a fair concern.

However, based on the trends and history of the industry, there’s no reason to panic.

The Pandemic Hiring Boom and Its Consequences

During the pandemic, the tech industry experienced an unprecedented hiring frenzy. Companies scrambled to secure talent, engaging in what some called “defensive hiring.” Essentially, they hired anyone with coding knowledge out of fear that skilled developers would soon be in short supply. This led to a hiring bubble, where many companies onboarded more developers than they needed — some of whom lacked the necessary skills and experience.

Fast forward to 2024, and the industry has sobered up. Tech giants and smaller companies alike are now adjusting to reality, trimming their excess workforce to balance their books and ensure…