Cognitive Computing Authors: Zakia Bouachraoui, Yeshim Deniz, Elizabeth White, Pat Romanski, William Schmarzo

News Feed Item

Third Quarter Internet And Digital Media Jobs Growth Is Sluggish In New York And Boston

New York Adds 3.6% While Boston Adds 1.9% to Employment

BOSTON and NEW YORK, Oct. 29, 2012 /PRNewswire-iReach/ -- Cook Associates Executive Search (http://www.cookassociates.com), a leading retained executive search firm, today released its quarterly East Coast Internet and Digital Media Jobs Index, which tracks job creation at more than 470 companies in New York and Boston.  The Jobs Index for New York showed 3.6 percent growth for the third quarter, following on the heels of 5.6 percent growth in the past quarter.  Boston, on the other hand, showed lower growth of 1.9 percent after a 3.2 percent increase in jobs in the second quarter. 

(Photo: http://photos.prnewswire.com/prnh/20121029/CG02177)

According to Managing Director and Index creator John Barrett, "It's now clear that a slowdown in hiring has been occurring in this sector over the past 6 months.  Things began getting soft in Boston by the second quarter.  There were some signs that it was also getting a little soft in New York, but hiring is now definitely slowing down in New York.  Overall, Internet and digital media jobs growth is still much stronger in New York and I expect that trend to continue."

Barrett continued, "Things are even worse than they appear in Boston.  All of the net new hiring came from just 10 companies out of the approximately 150 companies being tracked in the city.  Without those 10 companies, employment in Boston was flat at best and perhaps declined slightly."

Overall, New York added about 900 new Internet and digital media jobs while Boston added about 260.  Approximately 55% of New York's job growth came from publicly-traded companies while about 75% of Boston's job growth was derived from public companies.  This illustrates the continued strength of private company hiring in New York that's resulting from high levels of venture investing occurring there.  One example of a public company with a large headcount in both cities is Google.  The Cook Associates survey shows that Google now has more than 3100 employees in New York while having just over 800 in Boston.  However, Google appears to have increased its New York headcount by more than 20 percent so far in 2012 while only modestly increasing its headcount in Boston by less than 10 percent.  While impressive by any measure, Google's hiring seems to have slowed down in the third quarter along with that of many other companies.

"We expect a continued slowdown in jobs growth for the fourth quarter of 2012", stated Barrett, "likely making the last quarter of the year the worst one in terms of jobs creation."

Third Quarter 2012 results from Cook Associates' Internet and Digital Media Jobs Index:

New York data:

320 Internet and digital media companies with 10+ employees in New York City

  • Approximately 900 jobs added for a 3.6% gain

Percentage of companies that showed the following headcount changes:

  • Increase in headcount: 58%
  • Decrease in headcount: 27%
  • No change: 15%

Top 10 companies showing largest headcount gains in New York include:

1. Google

2. Rent the Runway

3. Amazon

4. AppNexus

5. eBay

6. Facebook

7. LinkedIn

8. Gilt Groupe

9. Etsy

10. Warby Parker

Up-and-coming companies showing large headcount gains:

  • Foursquare
  • Fab.com
  • ZocDoc
  • Magnetic
  • Tumblr
  • Thrillist
  • BuzzFeed
  • HowAboutWe.com
  • Mashable
  • SignPost
  • Yext
  • Moda Operandi
  • Outbrain
  • Conductor
  • Chloe & Isabel
  • Yodle
  • Birchbox
  • BedRocket

Boston data:

152 Internet and digital media companies with 10+ employees in Boston

  • Approximately 260 jobs added for a 1.9% gain

Percentage of companies that showed the following headcount changes:

  • Increase in headcount: 51%
  • Decrease in headcount: 35%
  • No change: 14%

Top 10 companies showing largest headcount gains in Boston include:

1. Hubspot

2. Wayfair

3. Amazon

4. TripAdvisor

5. Vistaprint

6. Rue La La

7. Google

8. Constant Contact

9. Karmaloop

10. Jumptap

Up-and-coming companies showing large headcount gains:

  • Visible Measures
  • DataXu
  • Nanigans
  • Care.com
  • Gemvara
  • NetProspex
  • WordStream
  • Fiksu
  • ClickFuel
  • QuantiaMD
  • Abine
  • Moontoast
  • Skyword

Cook surveyed only pure-play Internet and digital media companies. Based on its research, the company believes that the businesses surveyed represent more than 90 percent of the Internet and digital media employees in New York and Boston. Virtually all companies in the survey are currently or were previously financed by venture capital investors. Major digital sub-sectors covered include media/content, social networking, advertising, mobile media/commerce, e-commerce, video, local, analytics and marketing software. Excluded from the survey were digital-focused employees of "traditional" companies and digital ad agencies. Cook Associates continually adds or subtracts companies for inclusion in the Index based on the criteria of employing 10 or more employees in either the New York or Boston metropolitan areas. Cook's East Coast Internet and Digital Media Jobs Index is current as of October 1, 2012.

John Barrett:
LinkedIn: http://www.linkedin.com/in/johnbarrett3
Twitter (@jbarrett): https://twitter.com/#!/jbarrett

About Cook Associates Executive Search

Cook Associates provides retained executive search services to multinational corporations, early-stage entrepreneurial companies, midcap, privately held and family-owned businesses, as well as venture capital- and private equity-backed firms. The company's reputation as a trusted business advisor is built on decades of successfully identifying and guiding clients to the right solutions to drive performance and gain competitive advantage. For more information, visit www.cookassociates.com.

Web: www.cookassociates.com
Twitter: https://twitter.com/#!/CookAssociates
LinkedIn: http://www.linkedin.com/company/20163

Media Contact: Jessica Gentile Cook Associates, 3127555619, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Cook Associates

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.