Recent headlines have covered a slowdown in promotions at Google, a raft of executive exits at Apple, and another round of layoffs at Meta.
The last six months have seen a massive spike in the rate of voluntary and involuntary job changes. The resulting data offers the chance for incredible insights at the employee, company, and industry levels.
We took a sample of 2,000 job changes from key employees at Meta, Apple, Amazon, Microsoft, Netflix, and Google to see:
Amongst the seemingly constant reorgs, layoffs, and hiring freezes of the last 6 months, the rate of promotions has been in flux.
An internal Google email stated that there will be fewer promotions for L6 (Google's internal classification for senior-level employees) and above positions. Our data shows that the rate of promotions at Google has already slowed with an 85% decrease in promotions in Q1 2023 versus Q1 2022.
Overall, Q1 2023 promotions at the FAANG companies are on average down by half versus the same period last year.
For those who left FAANG companies to start new roles at non-FAANG companies, over 20% of the new roles came with a title increase.
Most frequently the term "job change" is associated with a new role at a different company. But, job changes can come in many shapes and forms.
Here's the breakdown of the latest FAANG executive job changes by where they started their new role:
Finally, a look at the department-level breakdown of the new roles offers insight into which types of roles are both "most in demand" and "most subject to turnover".
A deeper look reveals that business management, sales & support, and marketing & product teams were those most affected by the recent rounds of layoffs (although, on a percentage basis, there is more parity across departments).
Also of note, is the comparison between Amazon and Google across departments. New roles in the business management, operations, and sales & support teams Amazon dramatically outpace Google, while there is far more parity in new roles in the respective marketing & product and engineering teams.
Our constantly updated dataset of over 75M employees at over 2M companies allows for specific insights at the employee, company, and industry levels.
Reach out to tell us what job change stories you want to see covered or to learn more about how you can use Live Data.
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