Is it possible that the tech industry can suffer as a result of its innovations? Well, indeed it is. Nowadays, everything is about adapting to the “new normal,” as the COVID-19 pandemic has transformed how we experience reality. Of course, this has impacted how we work. While it might seem to be one of the best career choices, the tech industry has flaws that were made visible as soon as people started working from home.
Outdoor activities were prohibited, forcing businesses and organizations to send their employees home. The tech industry took advantage of the circumstances to develop remote working platforms, as it was the safest (and in many cases the only) way to keep productivity up.
This was a win for companies that create communication platforms, but why have tech workers’ wages altered as a result of remote work? This is a difficult question with many inconsistent responses.
In this article, we’ll explain the five remote work trends that have disrupted salaries in technology.
Everyone is Tech-Savvy
Almost everyone is tech-savvy… well, not really. Due to the rise in online degrees and online coding bootcamps, individuals are finding it very easy to get a hold of certifications and the “legitimacy” required to land a job in the tech industry. How does this impact tech salaries? Well, here is an example:
Consider how developers are in high demand today. Organizations want to work closely with various developers from various tech fields to give the company an upper hand. While the demand may remain consistent, if the number of developers continues to rise, the willingness to pay a developer the current wage of $107,510 may decrease.
Why would this happen? Well, if you have the option to pay someone less to get a job done at the same level of expertise, wouldn’t you do it? Exactly. Since many people were searching for remote work, the tech industry gave out the most opportunities. Hence, resulting in the disruption of tech salaries.
A Wide Range of Opportunities
While this might be a good thing for people in search of remote work early in their career, experienced tech employees would say otherwise. While finding a job as a newbie presents an abundance of opportunities to choose from, more experienced employees may find it difficult to land a job that makes sense to them.
Additionally, a wider range of opportunities also means that the other experienced individuals out there are knocking your opportunity down and taking it away from you, thus resulting in less opportunity for everyone. That’s the dark side of remote work that most people overlook.
One of the reasons why the pandemic has brought many organizations huge success is because they were willing to take on an overload of work. They were able to do so because they had employees working from home on the go. Therefore, while organizations may have benefited from profit, it resulted in a higher turnover.
Not everyone is willing to work from home, mainly because the work tends to get tougher due to communication gaps. Additionally, if you have more on your plate and are having a tough time handling your responsibilities, you might switch to another organization, even if it means sacrificing your current salary.
One of the biggest trends that have emerged during the pandemic was the software applications you could use online to get tasks done more efficiently. Organizations can rely on these tech tools when it comes to working. Therefore, as the rise of these tech tools continues to grow, the need to pay tech workers a high salary has decreased.
Nowadays, you can go online and purchase ready-made software. You can even buy a brand new, ready-made website. Therefore, as the trend goes on and becomes more robust, the need to pay developers a high salary won’t make sense.
As employees went home and the work continued, organizations realized that they could outsource more work to individuals from different parts of the world. It makes sense that if an organization can pay less for a tech worker in Pakistan with the same experience and expertise, why wouldn’t they? As the trend of outsourcing grew, so did the way organizations were willing to pay for an employee to take on a specific role.
Clients who want to invest in projects such as applications and software want to work with firms that don’t have in-house developers. This is simply because software developed in the US is far more expensive than one developed in Asia.
Ultimately, this new trend has caused a disruption in tech salaries.
Has remote work impacted tech salaries around the world? Do these trends apply to all the tech workers out there? Not necessarily. The truth is that remote work has a different positive or negative impact on everyone. While some tech workers may find the remote work trends a nuisance, others might praise them. There are many benefits as well as disadvantages to working from home, but ultimately, tech workers must learn to adapt to the new working environment.
In this era where the world of work has changed, it is important to stand out in the job market. As the competition between employees is becoming more intense, one must hone their skills and have sound knowledge in the field they wish to succeed in. Nowadays, especially as the tech industry is continuously evolving, there are many opportunities for tech employees to keep their job skills up to date, such as taking a class or enrolling in an online coding bootcamp.
Ibrahim Imran is a creative content writer with over five years of experience in the field of writing. He has successfully worked with multiple software and content companies throughout his career, helping them with creative content writing and marketing.