Tech salaries are on the rise while demand for data analytics, Python programming and cybersecurity skills remain high, according to the Talent More Than Money Salary Guide 2022.
The report features salaries and contract rates for key tech positions in 2022, market insights from Talent's managing director team and experienced recruiters, as well as hiring trends and predictions for the 16 cities in which Talent operates across ANZ, EMEA and the US.
The report showcases the most in-demand tech skills for 2022 and provides a range of stats on the local tech talent pool, skills trends, stats on the cost of living across multiple cities, and the benefits beyond salary that candidates are looking for.
According to the report, counteroffers for tech roles are up 20-30% on average across the globe, with candidates having 2-3 opportunities on the go.
Tech salaries are increasing 15-30% on average globally, while the ability to work from home is a non-negotiable for most candidates.
The report reveals demand remains high for the following skills:
- Data Analytics
- Python (Programming Language)
- Amazon Web Services (AWS)
- C (Programming Language)
And industries that are thriving include:
- Information Technology - Services
- Hospital - Health Care
- Financial Services
- Computer Software
- Government Administration
Matthew Munson, Talent Managing Director NSW, reflected on the year the technology recruitment industry has had, and his predictions for 2022.
“In 2021, with the exception of travel and hospitality, every industry sector has seen significant growth," he says.
"With the latest variant, Omicron, what happens next is anyone's guess. However, our best bet is for the market to continue as is for the foreseeable future (6-12 months)," Munson says.
"When the borders are opened to skilled migrants there will still be a lag effect when it comes to the impact this will have. The demand for top talent looks to continue to increase and all the organisations that we work with are expecting to grow their teams in 2022.
Simon Yeung, Talent managing director VIC, discussed the significant impact that COVID-19 has had on the industry in 2021 and its expected effects for the next 12 months.
“Since the beginning of COVID-19, the IT sector has fared better than most but 2021 has seen a huge defrosting with salary offers increasing by up to 25 – 30% and counteroffers sometimes reaching up to 75% from original offers," he says.
"I believe in 2022 we will see continued M-A activity within Superannuation and Wealth Management sectors, further activity in the Banking sector as it gears up for open banking in February 2022 and a continued rise in digital businesses. Tech talent with skills to enable projects in these areas will be in huge demand.
The report shows the technology hiring market is hotter than ever before. As a $5 trillion global industry, it has significant power in both providing opportunity to the workforce as well as rapidly disrupting the international work landscape.
With demand for skilled candidates through the roof with tech skill shortages across the globe, competition amongst businesses for top talent is rife. Not only are salaries increasing at unprecedented levels, but our findings showcase that if businesses are to get ahead, they need to offer benefits beyond a pay cheque.