With many global travel restrictions still in place as the world continues to navigate through COVID, the battle for top talent grows, driving tech salaries to new heights.
Our market experts are seeing upward pressure on salaries and contract rates across the entire tech market, placing candidates well and truly in the driver’s seat.
Our local market experts are observing salary growth across all aspects of tech, and according to LinkedIn, there is specific demand for the following professionals:
Software developer salaries continue to grow year-on-year despite organisations’ attempts to combat this with remote working policies and share options, however until the borders open, I do not foresee this trend changing at all
Kara Smith, Talent Auckland Managing Director
We are certainly experiencing upward pressure on rates / salaries across the entire ICT market as candidates’ phones won’t stop ringing with new opportunities
Paul Mackin-Brown, Talent Perth Managing Director
Driven by the need for growth I believe we are going to see the continued application of data-driven decision-making and Hyper Automation which will require technologies skills including RPA, low-code platform knowledge and process mining tools. Salary increases will likely continue for Developers, Salesforce Consultants, BAs, PMs, Architects, and Testers.
Simon Yeung, Talent Melbourne Managing Director
What has become increasingly apparent over the last year is the demand for great talent across all job disciplines; tech and product is a given. But we've found the demand for other roles within technology companies, such as sales, marketing and account management, just as hard to hire. We are regularly interviewing recent graduates for junior sales roles with 3-4 offers on the table.
Zoe Crouch, Talent Acquisition Partner, Australia, on client site through Talent Solutions
Across the regions Talent operates in globally, the industries with the highest demand for tech talent include:
There was strong hiring demand for candidates with technology skill sets in the Government sector in 2021, and we anticipate this will continue in 2022
Lauren Fyfe, Talent Canberra Senior Account Manager
It goes without saying, there is a huge demand across Australia and globally for technical talent, with companies across all industries needing to up their game in terms of digital offerings in the aftermath of the pandemic. I'm also seeing a lot of new companies and scale ups being born out of emerging technologies and industries, for example, crypto, the metaverse, AI technology, and cloud.
Kiri Evans, Senior Talent Acquisition Partner, Australia, on client site through Talent Solutions
In the marketing space we are seeing inflated salaries due to a candidate shortage caused by less talent coming into the country over the past few years. This particularly applies to Growth and Performance Marketers who are in high demand and are asking for increased salaries to reflect this.
Claire Wright, Talent Acquisition Partner, Australia, on client site through Talent Solutions
With global borders re-opening, can we expect the competition for talent to slow down anytime soon? Our market experts weigh in.
Kara Smith, Talent Auckland Managing Director suggests that competition for top candidates in New Zealand will continue well into 2022, due to an increased focus on tech projects in the wake of COVID and the associated demand for technology skillsets:
Even though borders are set to open in the middle of this year, I do not see this demand slowing; open borders will allow more talent to come into NZ, but it will also enable our current talent to follow opportunities overseas.”
In Australia, it’s a similar story, with Matthew Munson, Talent Sydney Managing Director anticipating that the hiring market in 2022 will be just as fast-paced and dynamic as it was in 2021:
Our best bet is for the market to continue as is for the foreseeable future (6-12 months). When the borders are opened to skilled migrants there will still be a lag effect when it comes to the impact this will have.
With salary increases reaching up to 30% in some regions, we can only anticipate that this growth will continue while the uncertainty around COVID remains. Simon Yeung, Melbourne Managing Director expects there to be a continued upward trajectory of contract rates in 2022, with a rebalancing in 2023:
I predict demand for strong tech talent will continue into 2022 at a similar trajectory with an eventual correction in contract rates towards the beginning of 2023.
Over in the UK, things are looking similar, with competition continuing to drive salaries up. Kevin Board, Talent UK Sales & Operations Director, shares:
Candidates know their worth, with many getting a 20-30% salary increase when they switch to another role - as well as at least 2-3 opportunities at once… At the rate we’re going, competition is only looking to increase.
With competition and counter-offers on the rise across the globe, salaries are only set to grow. If you’re a candidate, now is your time to shine, and if you’re an employer, it’s time to be on your A-game if you want to beat the competition.Find out more
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