starting out

Report recognizes Houston as a top city to launch a career

Starting your career in Houston? You're in the right place. Photo via Pexels

First-time job hunters are facing a competitive job market with historic unemployment and an unstable economy amid the coronavirus pandemic. However, Houston, according to a recent report, might give its residents an advantage.

The report, released May 20 by career website LinkedIn, places Houston at No. 10 on a list of the places in the U.S. that are best suited for new college graduates who are diving into the job market. The list comes out as recent grads confront a job market that's "shaping up to become one of the worst in recent memory," according to The Hechinger Report, a nonprofit news outlet that covers education.

LinkedIn considered three factors for its ranking: affordable rent, good starting salaries, and job availability. Houston's median rent sits at $1,377 per month (all types and sizes of rental properties), LinkedIn says, while its median annual salary for entry-level "career starter" jobs stands at $69,800.

Two other Texas metros appear in the top 15:

  • No. 13 San Antonio, where the median rent is $1,219 and the entry-level salary is $59,900
  • No. 15 Dallas-Fort Worth, where the median rent is $1,423 and the entry-level salary is $65,300

Austin, consistently touted as a magnet for college grads, failed to make the LinkedIn cut.

"What you [also] won't find on this list are the traditional coastal job magnets — New York, the Washington, D.C. area, the San Francisco Bay Area, and Los Angeles," LinkedIn points out. "Those cities may still offer some of the highest starting salaries, but their sky-high rents mean income doesn't stretch nearly as far."

Among the top occupations in the metro areas on LinkedIn's list are software engineer, registered nurse, teacher, project manager, project engineer, consultant, and analyst.

It might be difficult to find those jobs, though. The Conference Board, a research group that monitors business trends, says the number of new job postings in Texas declined from 255,000 in March to 175,000 in April.

To deal with the current economic realities, some new college grads are making sacrifices. In a survey by Monster.com and Wakefield Research, 55 percent of graduating seniors indicated they'd applied for a job they knew wasn't a good fit, and 52 percent said they would accept a lower salary.

"They're feeling desperate," Vicki Salemi, a career expert at Monster.com, told The Hill news website.

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This article original ran on CultureMap.

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Building Houston

 
 

AvidXchange executives explain why a crisis like the pandemic can provide opportunities for growth or realignment. Photo via Getty Images

From esports to telemedicine, some technologies are having a major moment during the COVID-19 crisis. As many businesses are operating remotely with work-from-home policies in place indefinitely, payments automation is another technology that's seen an opportunity amid the pandemic.

AvidXchange, which has invoice and payment processes automation software for mid-market businesses, is one of the companies in this payment automation space that's seen growth in spite of the economic downturn caused by the virus. The Charlotte, North Carolina-based company was founded in 2000 and went on to acquire Houston-founded Strongroom Solutions Inc. in 2015.

Since the acquisition, AvidXchange has quadrupled its presence in Houston and does a good deal of business locally. Equipping companies with tools for remote work is crucial — now and especially in light of Houston's propensity for challenges. Tyler Gill, vice president of sales for AvidXchange based in the Houston office and former CEO of Strongroom, joined Houston Exponential on a virtual panel to discuss this topic.

"We've had a history of disasters in Houston. Any time we can help businesses move to a more cloud-based infrastructure is going to be better," Gill says on the livestream. "I think working from home is maybe the new normal for a lot of employees — so how do we enable this?"

Gill and his colleague, Chris Elmore, senior sales performance director at AvidXchange, joined Joey Sanchez of HX for the talk about the acquisition, the pandemic, and growth for the company. If you missed it or don't have time to stream the whole conversation, here are some impactful moments of the chat.

“Economic downturns have a tendency to put a very bright light on a feature set or a product or a service that’s underperforming."

— Elmore says on how the pandemic affects innovation and startups. "My hope is that entrepreneurs will see this as a real time to get focused on their business — what's working well and what's not working well — and my hope is that they'll say, 'I need to fix that,' not 'I wish this was better,'" he says.

“For a young entrepreneur looking to build a business, make sure you’re looking for the people who are germane to your business.”

— Gill says about starting his business in Houston. At first, he was trying to find investors in oil and gas, but he found more success working with companies with a background in finance technology. "Houston has a history and density in fintech — I just had to find it."

“The fact that Strongroom owned the automated payment process in HOA that made them so attractive to AvidXchange because we didn’t.”

— Elmore says on the 2015 acquisition. He explains that AvidXchange had set up a presence in multifamily and commercial real estate, while Strongroom had a hold on homeowner's association, or HOA, business. The two companies competed for a while, and if Strongroom hadn't had their HOA specialty that made the company ideal for acquisition, Elmore says the two companies would still be competing today.

“When Strongroom was added to AvidXchange, our culture improved. By the way, we went from 40 employees to 1,000 within 14 months, and Strongroom was right at the beginning of that.”

— Elmore says on growth following the acquisition. The company now has 1,500 employees across seven offices and just closed a $128 million round of fundraising in April.

“Customers don’t care how big you get or how much money you raise from investors. They care about if your service is still doing the things they need to operate their business.”

— Gill says, reminding entrepreneurs to always prioritize and be focused on the client experience — through mergers or acquisitions, fundraising rounds, growth, etc.

“When you replace human interaction with technology, what you have to do, is to now move that person on to something more impactful and more important for the business. I don’t like tech for tech’s sake.”

— Elmore says on the importance of automation. "When you automate something, the output of automation is time," he adds.

“Houston couldn’t be a better place to build a business — I found great investors and employees here. It’s a city that’s used to risk. But it’s got to be you, the entrepreneur, that’s got something festering — that’s how you know it’s a great idea.”

— Gill says on inspiring future innovators. "What kept me motivated was I wanted to win. I felt like we had a great product, and we had a big market to serve. … I wanted to build something lasting and build a great team."

“We continue to be a great Houston story — some of my angel investors in Houston are still benefiting."

— Gill says on AvidXchange's presence in Houston. He adds that he's proud of how his former Strongroom team members have risen through the ranks of the company following the acquisition and that he sees the company, which is still privately held, moving toward IPO.

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