Global tech salaries have seen an increase globally, driven primarily by professionals with over three years of experience.

This is according to the annual State of Tech Salaries report released by recruiting marketplace Hired.

Key takeaways from the report reveal that the ‘time to hire’ metric so far this year has grown across US, UK, and Canada year-over-year.

Candidates remain emboldened, the data suggests. The majority (89.9%) of people in tech roles would start looking for a new job immediately if they do not receive an increased salary after six months in the position. Half expect salary increases by 2023.

However, jobseekers are split on the employer/employee dynamic – 27.2% of candidates surveyed believe power will shift to employers by January 2023, while 24.3% believe the candidate-driven market will continue.

Despite data showing the number of companies seeking to hire remote junior-level talent has grown, local salaries for junior-level candidates have failed to grow as quickly as salaries for professionals with more years of experience.

But as remote dominates as the preferred work model, remote salaries have continued to outpace local salaries – 15 out of 17 markets had higher remote salaries, up from 13 markets in 2021 – with remote roles paying approximately £2,540 more on average.

Data revealed that engineering management roles pay the highest among tech roles across the UK, with full-time jobs seeing an average salary of £113,358 – up from £107,205 in 2021.

Additionally, salary levels at large corporations against startups in the UK narrowed, with corporates paying just 4.53% more on average (£84,061 vs £80,419).

Josh Brenner, chief executive at Hired, said in the report: “The hiring climate this year has been full of contradictions and challenges.

“We’ve seen climbing salaries, aggressive hiring, and layoffs – all at once.

“However, the hiring landscape remains competitive as companies innovate and diversify their teams through remote work.”

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He added: “If there’s a North star in this tumultuous time, it’s that companies must be nimble when it comes to hiring. Explore new ideas, continue to rethink strategies, and revise hypergrowth models into ones for efficient growth.

“It’s the best way to cultivate a steady route to recruiting and retaining top employees.”

The findings are based on the analysis of more than 907,000 interview requests over 47,000 active positions, through Hired’s marketplace from January 2019 through June 2022.

Hired also surveyed over 2,000 tech professionals on their salary, benefits and flexible work preferences.

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