Half of Tech Talent Expects Raise After Pandemic
Hired's annual salary report covers a comprehensive view of tech salaries and workplace trends before and after the pandemic.
"It is still too early to tell whether the 2020 tech salary trendline will stay steady or forever be divided into 'before' and 'after' COVID-19. What we do know is that as companies and tech talent navigate this new normal, it’s more essential than ever to remove the stigma around salary discussions and promote transparency."
Key Stats Pre-Pandemic
Tech salaries grew in every major market last year, with a US market average of $146k and a global average of $130k.
San Francisco Bay Area still boasts the highest pay in tech, with an average salary of $155k, a 7% increase over the previous year.
Tech salaries in the healthcare sector are skyrocketing, with an average salary of $151k in the US.
In the US, data science roles saw the largest salary increase, jumping from $128k to $139k.
Product management salaries surpassed software engineering with an average salary of $154K compared to $146K in 2018.
Key Stats Post-Pandemic
Nearly one third of tech talent would be willing to accept a reduced salary if their employer made work from home permanent; over half (55%) would not.
Half of tech talent want to return to their office “at least once a week” post-COVID, but only 7% report wanting to work there every day.
90% of tech talent believe the same job should receive the same pay, regardless of remote work, but, when factoring in cost of living, 40% say they support location adjustments.
More than half (53%) of tech workers said permanent work from home would make them “likely” or “very likely” to move to a city with a lower cost of living.
Tech talent is split on job security, with 42% concerned, and 58% not concerned, that they are going to be laid off in the next 6 months.
Nearly half (49%) of tech workers expect to receive a raise of up to 20% in the next 6 months, while 44% expect their salary to stay the same.
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