Tech salaries continue to rise as companies search for talent

Tech salaries are still rising, but even so, according to research from job marketplace Hired Small talent poolMany feel the power will soon rest with the recruiting agencies rather than the candidates.

inside it 2022 Technical Salary Status In the report, Hired said tech salaries in the UK, US and Canada have risen across almost all roles in the past year, and the pay gap between remote work and office work is closing.

But opinion is divided on whether talent still has the most power in the tech job market, with 51.5% of those asked saying they think they have more power than recruiters during the hiring process, but 27.2% think power will shift to recruiters by 2023. At the beginning of

Josh Brenner, Hired’s CEO, said: “Hired’s survey data tells us that while there is some sense of power change among employers over the next six months, the majority of candidates are considering leaving their current roles.

“They are driven by more lucrative opportunities and the prospect of a better fit overall. Salaries, salary increases and expectations of job flexibility are skyrocketing, putting the onus on employers to implement the right strategies to attract, recruit and retain top talent.”

Tech is becoming such an important part of all firms and industries, but who Looking for experienced tech workers Roles seem harder to fill – for example, the amount of time it took to hire someone from a job ad increased year-on-year (YoY) in the UK, US and Canada in 2022 – to around 68 days on average in the UK, up from 50 days in 2021 . Globally, however, the time it takes to fill a remote role has remained roughly the same over the past three years, at 40 days.

Due to the smaller talent pool, tech workers have become more demanding in some areas. Hired found that 89.9% of candidates will either start looking for a new job when they turn down a raise, or try to negotiate other benefits, with half of employees expecting a raise within the next year.

In the last 12 months, the average number of interview requests per candidate was higher than the number of candidates for a given position.

In April, May and June 2022, there were about 2.5 people for each advertised tech job, but candidates received about 3.6 interview requests. The gap between available candidates and interviews was largest in February 2022, where each job seeker received an average of 5.9 interview requests, but only 1.6 candidates were available per position.

Salaries continued to rise in sectors across the US, Canada and the UK. Tech salaries in the UK in 2022 were lower than elsewhere – while the average tech salary in the UK will increase from £76,000 in 2021 to £83,000 in 2022 the UK still lags behind the US and Canada in terms of average tech salaries in the US in 2022, this year Canada The average is 133,000 Canadian dollars and US $159,000 in the United States.

While salaries for more junior candidates have remained the same in the US and declined in Canada over the past year, salaries for those with one to two years of experience have increased in the UK.

However, tech workers don’t think increased tech salaries match the increased cost of living, and 57.1% of employees plan to look for a job in the next six months to find the perfect role.

The report states: “As the talent market remains competitive, companies are keeping salaries high to win over top talent, meet candidate expectations and prevent future job prospects. Whether it softens as companies reassess compensation remains to be seen.”

Remote work, especially from the pandemic, not only is becoming an increasingly popular demand, but remote people’s salaries are also increasing. In June 2021, only 13% of tech talent were looking for remote-only roles, while in June 2022 the number rose to 32%.

The average remote work salary across the US, UK and Canada topped the chart in 2022 at $162,000. In the UK, the average remote-only tech salary was slightly lower than the overall average tech salary of £79,345 in 2022, up from £73,146 in 2021 and £68,651 in 2020.

Money remains a key driver for a third of techies, with nearly 33% of those asked who were already fully or partially remote willing to take on a fully personal role for more money. However, flexible working has been a top-voted advantage among potential candidates over the past year.

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