An analysis of data from the Q2 hiring market suggests that tech salaries flattened in 2021 as more employers brought on junior candidates to meet demand. Hiring platform Hired analysed more than 525,000 interview requests and 10,000 job offers between January 2019 and June 2021 and found the average US tech salary was $152,000 in 2021, a slight decrease of 1.1% compared to last year. It attributed this to increased pressure on hiring pipelines driven by the pandemic and the ensuing ‘Great Resignation’, which has seen employees quitting their jobs at record rates. This has led to heightened competition for software developers and other specialist tech workers, and “significantly shorter hiring cycles” as companies battle to meet demand: 30 days to hire in the U.S. and 34 days in the U.K., down 25% on average from a year ago. SEE: Tech skills: Four ways you can get the right mix In order to meet this demand, organizations are bringing on less experienced – and, therefore, cheaper – candidates, said Hired. The pivot to remote work is also impacting hiring: with more workers moving out of major tech hubs into areas with lower costs of living, and more remote-working roles being… Read full this story
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