As workers feel more empowered to prioritize their well-being and voice the need to feel valued and supported in the workplace, companies increasingly pledge commitment to diversity, equality and inclusion in the workplace. Yet gender and race discrepancies persist when it comes to salaries and access to opportunity, especially in the tech industry, according to a new report from Hired.
Particularly as organizations juggle the impacts of both the pandemic and the Great Resignation, employers are facing high competition for retaining and recruiting staff. It benefits organizations to identify and attract a broader pool of talent, to make representation a diversity imperative, in order to drive business forward.
Now in its sixth edition, the State of Wage Inequality in the Tech Industry: Hired's 2022 Impact Report analyzes wage and expectation gaps in salary data across gender, race, age and sexuality in the tech industry, and is based on the findings from data collected between January 2018 and December 2021. This includes over 819,000 interview requests and job offers facilitated through Hired's marketplace from over 3,900 participating companies and more than 120,000 jobseekers in the U.S., U.K. and Canada.
And according to Hired CEO Josh Brenner, there are reasons to be optimistic although “access to opportunity remains a challenge.” Here’s how things look in terms of progress in the areas of the wage gap, access to opportunity, and the expectation gap—how much candidates of different genders and race even anticipate they might earn.
The wage gap
Hired data shows some progress in terms of reduction in the salary gap between white and non-white candidates when looking only at race. In 2021, the gap not only closed for Asian candidates, but Asians, on average, began to out-earn their white counterparts (although they also receive fewer invitations to interviews). For Black candidates, this was not the case: The research found their wages were 1.8 percent lower than that of their white candidates in 2021. For Hispanic candidates, this was .4 percent.