2021 National IT Salary Survey
At MATRIX, we spent a lot of time in 2020 talking to our clients about new trends they see affecting compensation in 2021. We grouped the main themes we heard and partnered with Payscale to pull the average salaries of jobs that are trending upward.
Check out the snapshot of our 2021 National IT Salary Survey below and see the full report here.
Pandemic affecting salary increases
We have heard from companies across the country that the pandemic has disrupted their plans for salary increases in 2021. Some of our clients are exploring variable pay models or customized benefits packages if they can’t raise salaries across the board.
Geographical location determining pay
Views on geographical location affecting pay is a mixed bag. We see some clients in big cities reducing pay when workers decide to move to less-expensive cities. However, reducing compensation for remote workers could increase the risk for employee turnover and disengagement. One of our clients commented how they compensate employees in line with the local labor market that they’re moving into next, and align internal equity to factor in how other employees are paid working in a similar role and/or location.
Remote work is no longer a perk; it’s the standard
Gone are the days where you could pay an employee less because you offer remote work options as a perk. Remote work is here to stay – long after the pandemic ends – leaving many companies scrambling to pay competitive rates.
Transparency and equality in pay
Our recruiters have noticed a definite uptick in transparency with much more open and direct communication. Our Agile coaches have noticed that client employees are more motivated when salaries are transparent. They work harder, they’re more productive, and they’re better at collaborating. The MATRIX Diversity and Inclusion initiative is studying the issue of gender pay gaps. Gender pay gaps between men and women exist even when other factors, including experience, roles, education and location are controlled. The tech industry isn’t leading in this arena. In short, there is much work to be done.