The findings of Hired’s analysis are based on 907,000 interview requests over 47,000 active positions, facilitated through Hired’s marketplace from January 2019 through June 2022, and on surveys of 2,000 tech professionals regarding their salary, benefits, and flexible work preferences. Here are the key take-aways.
Salaries on rising–particularly for the remote worker
The report highlights that companies are more interested then ever in recruiting remote entry-level employees, but that salaries for local employees of that level are not growing as quickly as those for people with more experience. The data seems to indicate that companies are more focused are creating lucrative opportunities to draw more seasoned talent.
In local markets, according to the report, the earning potential for tech professions, based on local averages, is highest in the following U.S. cities:
New York at $161,128
Boston at $158,548, and
Austin at $157,612.
And the gaps are narrowing: Average local salaries for candidates in mid-size markets (Boston, LA, and Seattle) have quickly caught up to salaries on par with larger tech hubs (New York and SF).
Notably, remote workers are attracting higher salaries in these areas, apart from the San Francisco Bay Area, the only market where local salaries topped remote salaries, although only by 1%. According to the report, the preference for remote work in the tech sector has created a situation in which 15 out of 17 markets had higher remote salaries (up from 13 markets in 2021), and remote roles paying $3,000 more on average globally.
The top three highest paying markets in the US for remote salaries remained in 2022 with salaries climbing for all three markets across the board:
SF Bay Area at $175,909,
Seattle at $171,432, and
New York at $162,261.
The most valuable perk: Flexibility
But it’s not all about the money, by a longshot. Flexibility is surfacing as the top factor in considering a job opportunity, something our own Global Workforce of the Future report found as well.
While money matters, workers are making it clear that well-being and work/life balance are highly valued priorities when it comes to signing a contract or not. This chart shows the report’s findings when it comes to company benefits candidates and employees value.