According to research by UBS, Alphabet (NASDAQ:) and Meta Platforms (NASDAQ:) are on track to increase headcount by 8% and 7.6% year over year, respectively, in 2024.
Google's overall job postings are indexing about 20% below 2018 levels, during which it added about 18,600 employees — meaning it will add about 14,900 through 2024, the investment bank said.
“Given the much higher disclosed baseline of ~183,000 employees as of end-2023, this implies headcount growth of ~8%,” the analysts wrote.
“Unsurprisingly, job postings for technical roles are approximately 9% higher than 2018 levels, indicating a higher average salary should be added per employee through 2024.”
Meanwhile, Meta Platforms' total job postings are indexed at roughly 48% of 2018 levels, during which it added nearly 10,500 employees — meaning it will add about 5,100 employees in 2024.
“If the company maintains the current pace, this should reflect an increase of approximately 7.6% versus the reported headcount at the end of 2023 of 67.3K,” UBS stated.
“However, postings for technical roles are down 24% in comparison, indicating what should be a higher average salary per employee added through 2024.”
