Most technology professionals say their pay isn't keeping up with inflation, raising pressure on employers to meet growing demand for remote work.
Some 82% of employees living close to their place of work and 64.5% of remote workers noted a squeeze on their salaries, even as average pay in the industry increased from last year, according to a report from Hired, a marketplace for tech jobs. In the US, salaries rose 3.2% to $159,000.
The worst bout of inflation in the US for a
"Expectations on salary, pay raises, and work flexibility remain sky high, placing the onus on employers to execute the right strategies to attract, hire, and retain top talent," Josh Brenner, chief executive officer of Hired, said in the report published Tuesday.
Salaries for remote jobs are up $3,000 on average from a year earlier and are exceeding local pay in some cities -- for instance, in Chicago the gap is 6.2%. London proved to be an outlier, as local workers earn 3.6% more than remote employees.
Workers fleeing high-cost areas are driving up pay outside of the nation's biggest tech hubs. Philadelphia saw the highest average increase, at 11.9%, while Dallas was second at 11.3%.
The country's two centers of the industry both recovered from last year's
Hired surveyed more than 2,000 tech professionals from January 2019 to June 2022.