Compensation

Subterms

    Latest story

    75 Shares129 Views

    2022 UK State of Tech Salaries

    by

    New Data on Salary Trends in the UK Following a Season of Hiring Contradictions

    While the Great Resignation defined 2021, 2022 is to be determined. Earlier this year we saw aggressive hiring in response to attrition and ambitious goals. More recently, we’ve witnessed uncertainty, volatility, and contradiction. Currently, we face an energy crisis in the UK, a new prime minister’s economic policy, living in a post-Brexit world, along with significant tech hiring freezes and layoffs. Yet despite these events, the hiring market remains cautiously optimistic. So what do we know about the status of 2022 UK tech salaries and the hiring climate?

    What the data tells us about 2022 UK tech salaries and employment

    In the US, for example, the unemployment rate is at a pre-pandemic low, inflation is cooling, there is a steady stream of job openings, and many companies need help finding top talent. Salaries continue to climb in the UK and Canada post-pandemic as well. In fact, Toronto and London had higher salary increases YoY, respectively, between 2021 and 2022 – than Boston, New York, SF Bay Area, and Seattle.

    As of this writing, the most recent release (13 September, 2022), from the Office of National Statistics, reported the total number of workforce jobs in the UK in June rose by 290K, on the quarter to a record 35.8 million. For the first time, this exceeds the preCOVID-19 level of December 2019. The employment rate decreased on the quarter but increased on the year and is still below pre-pandemic rates. So while there’s been some turmoil, there’s reason to be encouraged.

    Remote expands pipelines; gives employers an edge

    Employers continue to hire remote employees and enter new talent markets, although the UK has generally been more hesitant to do so than Canada and the US. Meanwhile, some high-profile companies in the US and elsewhere have announced return-to office policies, despite resistance from the majority of workers.

    Survey data in the 2022 State of UK Tech Salaries

    So as the winds shift towards an economic slowdown, will the pendulum swing more in favor of employer demands? Hired’s survey data tells us that while there is some sentiment of a power shift to employers in the next six months, the majority of candidates are considering leaving their current roles. They’re driven by the potential for more lucrative opportunities and an overall better fit.

    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. In the 2022 State of Tech Salaries report, Hired provides one of the most in-depth analyses of the hiring environment today. Based on extensive proprietary marketplace data and a talent survey, it spans the US, Canada, and the UK. Ideally, these valuable insights will inspire meaningful conversations within organisations on hiring strategies, including the structure of compensation packages, flexible work models, and other talent initiatives.

    So what’s next for tech hiring?

    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. We stand by ready to help jobseekers and employers alike.

    In the 2022 State of UK Tech Salaries, we dive into Hired’s marketplace data to uncover insights specific to UK-based companies.

    With data and insights from more than 907,000 interview requests and survey responses from more than 2,000 technologists, we offer guidance to recruiters and talent acquisition leaders eager to stay competitive. With this eBook, companies can adapt hiring strategies and retain top talent, thriving despite an uncertain market.

    Key takeaways from the 2022 State of UK Tech Salaries eBook

    UK compensation trends based on role, industry, company size, and years of experienceThe impact of remote or work-from-home trends on tech salaries4 steps to increase hiring efficiencies and strengthen your employer brand, and more! More

    More stories

    • 138 Shares119 Views

      in Employer

      2022 Survey Results: Top 3 Benefits Ranked by Engineers (Besides Salary)

      by

      Last year was largely characterized by the Great Resignation but this year, in 2022, both employers and employees face uncertainty in the hiring market. This challenges employers to be more efficient when attracting, hiring, and onboarding new tech employees. To help you be more competitive when sourcing top talent, Hired’s 2022 State of Tech Salaries report reveals the three benefits ranked highest by engineers.

      Analyzing data from more than 907,000 interview requests across over 47,750 active positions, the process revealed insights from top tech talent and what they want in potential employers. 

      Potential candidates strongly factor benefits into their decision so this is important to your retention efforts with current employees. 

      Incorporate The Top Three Benefits in Your Recruiting Strategy 

      Hired’s 2022 State of Tech Salaries Report revealed engineers rank three benefits as most important to their job search outside of base compensation: flexible schedule, PTO, and physical health benefits. Are you an employer, recruiter, or hiring manager? Prioritize these benefits for robust recruiting and talent retention strategies and efforts. 

      1. Flexible Work Schedule 

      The pandemic forced companies to jump into remote work head first. However, as we adapt to the future of work, Hired found employees aren’t interested in fully returning to the office. Take a look at the response to our WFH questions. We found only 2% considered an in-office workplace most ideal. While over half (54.2%) would be willing to go back to the office if it came with more job security, they also reported they would search for other jobs with flexible remote work options right away.

      Note the flexible option to work from home is now the bare minimum. You need a comprehensive flexible work schedule. Here are a few trending best practices to consider implementing and promoting: 

      Shortened Work Week 

      Many companies are testing adaptable schedules, such as shortened work weeks. This model makes sense, especially for tech roles unnecessarily tied to the traditional, Monday-Friday, 9-5 work week. Companies adapting to a 4-day model see increased productivity and better work-life balance. 

      Family-Friendly Workplace 

      The pandemic also shined a light on the specific challenges faced by caregivers. For working parents or those caring for aging adults, it was overdue. It humanized a lot of working relationships and often provided a bit of levity. How many kids and dogs have you seen on video calls?

      As a result, reports found 57% of senior leaders plan to prioritize care benefits. When promoting flexible scheduling options, emphasize families may work around their responsibilities. Remember to be inclusive. Flexible scheduling isn’t only for working parents. Think of those who are in the “sandwich generation” or taking care of partners/parents. 

      2. Clear PTO Policies 

      First, it’s best to define your PTO policy. You won’t get far with candidates with vague mentions of “generous PTO.” What does that mean? Generous to whom? It’s all relative. Instead, clearly outline policies in your job postings. 

      Remember, asking employees to categorize their paid time off requests is passé. A solid and robust PTO strategy combines days for vacation, sick time, bereavement, and personal time in a single bank for employee use — no explanations for their use needed.

      Another hot-button topic for benefits is the debate over unlimited PTO. There are pros and cons to its implementation:

      Cons of Unlimited PTO

      Ambiguity actually makes employees take less time off. Branka Vuleta, founder of LegalJobs.io, explains: “In reality, people who have an opportunity to take as many vacations as they can end up taking fewer days off than those with a limited amount of days off in a year.

      In a nutshell, the unlimited PTO policy is a marketing trick supposed to lure people into applying for the job.” Employees new to unlimited PTO may not understand it’s not accrued, and therefore, isn’t paid out if they leave.

      Pros of Unlimited PTO

      Allows employees to take time off at their discretion and puts no caps on the number of days or hours used. This respects employees as adults instead of kids with a hall pass. This empowerment can be an attractive recruiting tool in a competitive marketplace.

      Employee Communication Guidance

      No matter what you decide, the key is to disclose as much insight into your PTO policy as possible. The last two decades of the tech revolution coupled with the pandemic created a more fluid and open-minded environment. 

      Prospective and current employees still want to understand, however, how and when they can take time off, and what the policy will mean to them. Consider mentioning:

      Required PTO minimums: Explain how your company requires workers to take time off to avoid burnout. Assistance with PTO coverage: This is often an issue with the unlimited PTO policies. People can take off as much time as they want, but covering ongoing projects, deliverables, and duties is cumbersome. Have company leadership take this burden off employees’ shoulders and be sure to communicate this in your job posting. People-first strategy: Showcase your first priority is employee morale, mental wellness, and as much work-life balance as possible. 

      3. Physical Health Benefits

      Healthcare in the U.S. is more expensive than ever. Combined with the painful lessons of the pandemic, employees are more aware of the importance of physical health and wellness.

      So, health benefits play an integral role in recruiting and retaining employees. In addition, study after study proves healthier employees are happier and more productive — benefiting employers and their bottom line.

      Physical health benefits include medical, dental, mental wellness, vision, and other benefits relating to healthcare. But it doesn’t stop there. While it’s imperative to list your complete health benefits offerings, be creative when it comes to wellness coverage and perks. Use these innovative companies and ideas as inspiration:

      Platforms like Modern Health allow employees to enjoy a full spectrum of mental and physical health benefits via one app. Companies like Accenture provide confidential employee assistance programs with training and resources to help with stress, mental health, or substance abuse.A fitness reimbursement program can offer financial assistance for gym memberships, virtual exercise classes, or even personal trainers. For instance, Microsoft offers “$1,200 per year for employee-only wellness-related expenses that help you get and stay fit physically, emotionally, and financially.”  

      Refer to this exhaustive list of perks and stipends for more examples.  

      Want to Attract and Retain Tech Talent? Promote the Right Benefits 

      Competing for tech talent in this current hiring climate and job market may feel like a herculean task, but it doesn’t have to be. Just adapt your strategies to meet evolving expectations surrounding work-life balance, remote work, and other benefits. The good news is the work to make these shifts benefits your current team members and retention efforts, too.

      Remember to emphasize your attractive benefits (specifically flexible schedules, PTO, and health benefits) on your careers page, job postings, and even social media. Shout about them everywhere. Quantify and qualify them to put it into context for prospective candidates. Consider asking current team members to participate in testimonials, quotes, or case studies. 

      This is a difficult time, but you don’t have to go through it alone. Hired’s platform allows you to highlight benefits in your company profile and helps ensure they’re communicated to candidates (i.e., in email requests to interview).

      Hired also gives you access to ongoing real-time market data to tailor your outreach and optimize response rates. This ultimately saves HR teams time to focus on higher-level tasks like retention via employee experience.  

      Top Benefits Ranked by Survey Respondents

      Get even more details about what tech professionals like engineers want regarding salaries, benefits, remote work flexibility, and more.

      Related 

      Tracy Ring is a freelance writer and content marketer. She brings a real-life perspective to her writing from 10+ years of diverse experience, including HR, project management, customer and client relations, and admin roles. Connect with her on LinkedIn or Twitter. More

    • 150 Shares159 Views

      in Employer

      Diversity Isn’t Optional: How 3 Talent Leaders Made DEI an Organizational Imperative

      by

      All too often, organizations treat DEI initiatives as optional—but this approach couldn’t be worse for business.  

      According to McKinsey, gender-diverse companies are 15% more likely to have financial returns above their national industry median and ethnically diverse companies typically experience a 35% increase in performance compared to homogenous competitors. Similarly, a Boston Consulting Group report found diverse management teams generate 19 times more revenue than non-diverse teams.

      The statistics speak for themselves: diversity is key to business success. But how many companies treat DEI initiatives as a true organizational imperative?

      The unfortunate answer: not enough. “Prominent tech companies have made little progress in their stated goal of hiring more minorities,” notes one CNBC article. 

      For example, many enterprises saw only “low single-digit increases in their percentage of Black employees” from 2014 to 2020. And while the gender and race wage gap is narrowing, access to opportunity and discrepancies in salaries persist for underrepresented tech talent. 

      DEI data

      For example, in our recent State of Wage Inequality in the Tech Industry report, our platform data showed: 

      36.7% of roles only sent interview requests to menThe percentage of positions only sending interview requests to white or asian men continue to drop, but is still a hefty 49%Black women continue to see the widest gap among the demographics analyzed.

      “There is still work to be done in ensuring equitable hiring processes to narrow wage and expectation gaps, and companies must prioritize this effort,” says Hired CEO Josh Brenner. 

      “Post-Great Resignation, companies successful in identifying non-traditional talent, while also ensuring diversity and representation in their candidate pipelines, will be better positioned to drive their businesses forward in a time of increased volatility.” 

      To see what steps business leaders across the country are taking to drive impactful DEI efforts, we’ve compiled actionable insights from Hired’s Talk Talent to Me podcast. Read on to learn how Match Group, Capital One, and Tech Can [Do] Better work to enact positive change—and how your organization can do the same.

      How Match Group attracts underrepresented candidates

      Expert: Match Group Vice President of Talent Acquisition, Craig Campbell

      Examine your entire hiring process

      To build a pipeline of diverse talent, Campbell suggests baking DEI into every part of your hiring process: from branding to sourcing to interviewing. “Think about what you’re doing to attract the right talent,” he says. “Can you stand on your approach and say it’s end-to-end fair, objective, and inclusive?” 

      Revisit value propositions

      In a crowded marketplace, corporate branding can make or break your recruiting efforts. 

      As Campbell puts it, “Do you present an attractive value proposition to start with, and then are you ensuring that you’re not doing things to diminish your opportunity to convert as much talent as possible? 

      That’s something you can apply in general, and then even more specifically when you start to think about segments like Black or African-American, Latinx, women, and the LGBTQ community. 

      For each underrepresented segment in your organization, you have to take an inside-out approach to determine: Do I have the right value proposition to attract that audience?” 

      Many businesses already use market segmentation for customer acquisition—and the same strategies can be used to attract diverse candidates. “I don’t think it’s a far reach to apply some of that expertise to talent segmentation,” says Campbell.  

      Take a stance on social issues

      Candidates will notice what your company does—and doesn’t—say. 

      As Campbell puts it, “Another part of your value proposition is your position as it relates to social causes. I think that’s a new and emerging component of the value proposition, with candidates asking companies what they stand for and how that shows up in how they do business and support employees.” 

      According to Edelman’s 2022 Trust Barometer, 60% of respondents said they will choose a place to work based on their beliefs and values. 

      Organizations with clear answers and concrete evidence will stand out for their commitment to taking action. “Whether you have a story to tell—or more importantly, a track record—could be the difference between you being more or less competitive,” says Campbell.

      Listen to the whole episode

      How Capital One nurtures an inclusive culture

      Expert: Capital One Senior Director of Diversity Talent Acquisition, Kanika Raney

      Prioritize DEI initiatives in onboarding

      At Capital One, Raney is proud to have helped shape a successful onboarding program that sets the tone for company culture and employee experience. 

      “Everyone goes through a day-long training to learn more about our culture and values,” she says. “For us, it’s essential they feel included from day one.” 

      Part of that mission means emphasizing DEI initiatives through the onboarding process—and encouraging new employees to get involved with relevant business resource groups and activities. 

      Onboarding isn’t something that occurs only when someone starts a new job, though. Rather, it happens any time there is a transition—and DEI should be emphasized at each milestone. 

      “That can be when you transfer to a new role, when you get a new manager, if there’s a reorganization, or if you’re returning from an extended leave,” explains Raney. “And companies should have an onboarding strategy for each of these defining moments in an employee’s career.”

      Unburden minority employees

      Far too often, the burden falls on minority groups to cultivate inclusivity within an organization. “More often than not, if you’re the only female or the only Latinx employee at a senior level, you’re going to be tapped on the shoulder every single time,” says Raney. “And that becomes a lot for one person representing one demographic.” 

      Tokenism [to-ken-ism] /ˈtōkəˌnizəm/ noun

      “The practice of doing something, such as hiring a person from a minority group, just to appear to be treating people fairly and to avoid criticism.” 

      To prevent tokenism,  business leaders should own this responsibility themselves rather than relying exclusively on employee groups. 

      For example, Capital One hosted a speaker series to advance authentic dialogue, grow DEI awareness, and promote allyship. 

      “It’s about creating the space for open dialogue and allowing people to join in on a voluntary basis versus putting employees on the spot and making them feel like, ‘I’m the one that has to step up and answer this question,’” explains Raney. 

      Related: Panel discussion: “Close the Gap with Advocacy & Allyship”

      Forget about “culture fits” 

      Rather than hiring candidates who are culture fits, Raney suggests rewriting the script and seeking culture adds. 

      “Why are we trying to force people into a fit?” she asks. “It should be less about, ‘Can you fit into this culture?’ and more about, ‘What are you adding to this culture?’” 

      To that end, Raney emphasizes the importance of training staff to think differently during the recruitment process. 

      For instance, hiring teams might ask: 

      Can this candidate bring an alternative perspective to the organization? In what ways will their original insights benefit our business? If someone is missing a credential, can they learn relevant skills on the job? Are they growth-minded? Do they offer something we didn’t even know we needed? 

      Listen to the whole episode

      How Tech Can [Do] Better leverages critical diversity data

      Expert: Tech Can [Do] Better founder & CEO, Lawrence Humphrey

      Partner with outside organizations 

      Humphrey’s nonprofit, Tech Can [Do] Better, was founded one week after the murder of George Floyd. “We’re all about driving racial equity, and equity more broadly, in and through the tech industry,” says Humphrey. 

      “This was a window of opportunity like none I’d ever seen before, so I thought: How can we turn this moment into a movement where all of the most influential companies in the world have an ear for systemic change? How can we actually make something out of it?” 

      Today, Tech Can [Do] Better partners with innovative organizations to provide data-driven perspectives on how to enact change. “You can’t improve what you don’t measure,” explains Humphrey, quoting a famous maxim. 

      In running reports for tech companies, he helps business leaders identify—and fill—critical representation gaps. A large part of that process is breaking down data by gender, role, tenure, and other variables. 

      “You need to be able to segment the data,” says Humphrey. “It’s not enough to say that 15% of your workforce is Black. Where are the Black folks in your workforce?” 

      By getting granular, you can identify opportunity areas that might have otherwise gone overlooked—whether that’s diversifying the C-suite or rolling out initiatives to improve retention in a certain department.

      Set realistic expectations for DEI initiatives

      “Systemic problems require systemic solutions,” says Humphrey, “and systemic solutions require a long time frame.” It’s important for talent companies to recognize meaningful change can’t occur overnight. 

      Instead, DEI initiatives are an ongoing commitment to building a better workforce. As Humphrey explains, “It’s a little bit of work done for a long time. You can’t expect to just burst through some sprints or an intense one-quarter cycle, and then achieve equity. 

      That’s not how this works. It’s a commitment—and I feel comfortable saying it’s a life-long commitment.”

      Listen to the whole episode

      Here’s What You Can Do to Make DEI a Priority 

      Embrace best practices

      List salary bands. Use technology to reduce bias. Drop requirements for traditional four-year degrees and avail roles to those with non-traditional educational backgrounds, like bootcamps. In our 2022 State of Software Engineers report research, we found in 2021: 

      46% of software engineers had a computer science degree24% were self taught18% have a relevant college degree (ex., mathematics, information technology, data science, etc.)11% participated in a bootcamp program.

      In each case, the percentage increased 1% from 2020, except for “relevant college degree,” which decreased 4%.

      We’ve also seen wonderful results of bootcamp graduates on Hired, such as Paula Muldoon, who transitioned careers. After earning multiple degrees in and enjoying a music career, she joined a program through our partner, Makers, in the UK. She’s now a software engineer for Zopa, a leading financial company. 

      We’ve already seen great examples of DEI on our platform. So much so that we scored employers on our core values of equity, efficiency, and transparency in our first List of Top Employers Winning Tech Talent. Want to make the next list? Draw on these top ranking companies inside for inspiration.

      If you’re ready to follow in these organizations’ footsteps, Hired is here to help. By leveraging our platform’s innovative DEI tools and transparent salary data, we help your company build diverse teams and close critical wage gaps—one hire at a time.  More

    • 150 Shares199 Views

      in Employer

      Want to Hire a Globally Distributed Team? 4 Ways to Get Started

      by

      In the last few years, more companies have expanded their workforces globally than ever before. Businesses realized the talent pool is no longer limited to their city limits (or even their country’s borders, for that matter) and skilled workers everywhere are getting a shot at working for top employers—no matter where they live. Related: Hired […] More

    • 75 Shares189 Views

      in Employer

      2021 State of U.K. Tech Salaries

      by

      What You’ll Learn U.K. tech salary trends based on role, industry, and years of experience How technical employees ranked non-salary compensation, such as benefits The impact of the Great Resignation on the demand for tech talent 4 Steps to accelerate your hiring process short term and develop a long term recruitment strategy to handle attrition. […] More

    • 125 Shares119 Views

      in Employer

      Survey Results: Top 3 Benefits Ranked by Engineers (Besides Salary)

      by

      Whether you’re navigating the “Great Resignation” or scaling your teams, you know it’s tougher than ever to attract, hire, and onboard new tech employees. To help you be more competitive when sourcing top talent, Hired’s 2021 State of Tech Salaries report reveals the three benefits ranked highest by engineers. Analyzing data from more than 17,000 […] More

    • 150 Shares149 Views

      in Workplace

      When Is It Okay to Quit a Job on the First Day?

      by

      For new employees, the first day of work is always full of surprises. Unless you’re a “boomerang” who has worked for the company in the past, it’s impossible to know what to expect from a new role and employer. Unfortunately, some may find there are more bad surprises than good when starting a new job. Those who feel pressured to accept an offer due to prolonged unemployment or financial need could find their rush to reenter the workforce results in accepting a job that is less than ideal and leaves them feeling regretful or overwhelmed. For others who take their time and do their due diligence, sometimes it’s just obvious things won’t work out right from the start.
      Most employees know that under normal circumstances, quitting a job during or after the first day of work is a huge career misstep. According to the U.S. Department of Labor, an unsuccessful hire can cost an employer up to 30 percent of the employee’s salary, not to mention the time required to restart the recruiting process from scratch. In addition, employees who decide to quit on their first day appear unreliable, indifferent to employers’ needs, and unconcerned about burning bridges in their career.
      However, there are always exceptions, and though it should be a last resort and worst-case scenario, there are times when leaving after one day on the job is a better decision than sticking it out. Let’s look at a few reasons why an employee’s first day should also be the last.
      Ethics
      In a perfect world, employers should lead by example, particularly when onboarding new hires. Unfortunately, some employers prioritize high profits over high morals. This could be due to widespread corruption in the company, or simply one rogue manager with misplaced priorities. Either way, if employees are asked to do something illegal or dishonest on their first day, it’s likely just the tip of the iceberg, and the chances of things improving and leading to a long and successful career with the organization are slim. Employees should never be asked to compromise their ethics by an employer, and any future employers that question their reason for leaving should understand and respect their integrity for doing so.
      False Advertising
      It’s understandable that a new job might include a few duties that the employee wasn’t expecting, just as responsibilities may be added as the employee adjusts and the role grows. However, for some jobs that may be unpleasant, difficult to fill or may experience high turnover, employers could be inclined to advertise the role as something it’s not in order to boost candidate response or avoid paying an appropriate salary. Employees who fall victim to this “bait and switch” should not feel obligated to remain in a role that was misrepresented, and should be wary of working for an employer that relies on dishonest recruiting practices to fill open positions.
      Money Issues
      Just as an employer may be tempted to misrepresent job responsibilities in order to make the recruiting process a little easier, so too might they be inclined to misrepresent a job’s salary. By reducing the salary, an employer may hope to get more for less by taking advantage of new hires who can’t afford to restart their job search. Another tactic is to charge new employees for training. While some states allow employers to require workers to pay for training, job scammers posing as legitimate businesses may charge unsuspecting new hires for training for jobs that don’t actually exist, or simply to make money off of training fees. Employees who are asked to pay for training immediately when starting a job should exercise extreme caution.
      Toxic Environment
      The most obvious reason to leave a job without looking back is if the work environment is so toxic it poses a threat to employees’ mental or physical health. Usually, the effects of working in a toxic environment build up over time until eventually, employees feel they can no longer take it and begin a new job search. In the case that the company’s toxic culture is evident on the first day, employees should trust their instincts and leave. Toxic work environments often get worse before they get better, and those that get better may take years. Employees’ time is much better spent looking for a job where they will be truly happy than hoping one that makes them miserable will improve.
      Most employees know that when starting a new job, they should approach it with a sense of commitment and not just as a trial to determine whether it’s worth staying. However, even those who do everything right in their job search may land in a role that’s not a good fit, and leaving immediately is the best option. Those employees should take comfort in knowing that it’s not necessary to list a position on their resume that they only worked for one day, and leaving after several months would be much more difficult to explain to future employers. Everyone is entitled to an occasional misstep in their career path. As long as it doesn’t become a pattern, it’s better to remain a job seeker for a few weeks or months than to remain an unhappy employee for years.
      Share this post: More

    • 163 Shares169 Views

      in Talent Acquisition

      Why you should seek accurate salary data to land the salary you deserve

      by

      Discussing salary or going into a salary negotiation conversation can be nerve wrecking for many reasons — and you’re not alone. Some may feel like they lack enough (of the right) data to discuss numbers, while others might not feel confident in the actual words to use when approaching a salary conversation to appear fair while achieving a salary they deserve. Both instances can cause unnecessary anxiety for job seekers, and can prove especially difficult for candidates of underrepresented communities, even though it continues to be the top motivator for tech candidates to look for and accept a new role.
      Leveraging salary data can help empower job seekers to not only ask for the compensation they deserve, but also expect it. In our webinar, “Staying Empowered With Data: Knowing & Asking For The Compensation You Deserve,” I had the opportunity to discuss with our guest speaker, Virgginnia Buccioni-Hillman — an experienced D&I recruiter, HR professional, and DE&I Program Manager at Tile — about why it is important to seek pay equity, how to uncover accurate data sources, and approach salary discussions.
      Empower yourself with accurate salary data
      With a wide variety of resources available online, job seekers must be keen to know where their salary data is coming from. Salary information can be presented as base salary or total compensation, which may include equity, stock options, and bonuses. In addition, salary data can be characterized as employer-reported or self-reported data, the difference being that self-reported data cannot be confirmed by employers. While both types of data sources can be helpful for research purposes, this is what can confuse job seekers and make salary discussions more intimidating and possibly misleading.
      For technical candidates, there are various factors that should be considered when researching salary data and defining a target salary range, including the career field and role you are in or interviewing for, your current city, the location of the prospective role (if it differs from where you live), your core skill-set, and your years of experience (i.e. overall, within a role, coding in a particular language/framework). In her recruiting experience, Buccioni-Hillman shares that this is how different salary bands are developed and how candidates are evaluated for starting salary within the interview funnel.
      Using your research to discuss salary
      On Hired, we encourage a type of salary discussion at the first introduction between a candidate and recruiter to establish a preferred base salary on both ends. While this is not set in stone until a final offer is extended, it elicits a conversation around this early on to ensure there are no surprises or time wasted for both parties. It can also be common for salary discussions to happen as the process approaches an onsite interview.
      Job seekers should invest themselves into the role and team you are interviewing with and lean into these conversations. When asked what your target compensation range is, you can lean on the data you’ve gathered and share your preferred base salary range based on the market research you’ve done. Likewise, Buccioni-Hillman encourages candidates to feel comfortable asking what the base salary range is for the role and level you are interviewing for. By having an open dialogue early on with the recruiter and hiring manager, it can be an ongoing conversation as you proceed through the interview process.
      After doing research into salary data, it is also important to take stock of what is most important to you in a total compensation package, including stock, equity, bonuses, and benefits. Especially in a remote world, examples can include additional vacation time, flexible work schedules, professional development budgets, technology allowances or incorporating a compensation adjustment with a performance review after 6 months and other perks. In an instance of negotiating salary, candidates might shy away from countering to not appear greedy or ungrateful for the opportunity. Companies won’t retract their offer because you would like to negotiate — if anything, they expect you too so don’t be shy. 
      Displaying confidence in your pitch
      If a company has extended a job offer, they believe that you would be a great addition to the team. Displaying gratitude and humility for the opportunity is great but Buccioni-Hillman challenges job seekers to strike a balance between that and ensuring that you aren’t leaving money on the table. Buccioni-Hillman shares that candidates should remember to do the following in salary discussions or negotiations:
      Display confidence in your ability to perform the job successfully
      Focus on the value you can bring to the role and team
      Reiterate your commitment and motivations
      Confidence starts within yourself. When you know your worth, it isn’t boastful to ask for what you are valued. Buccioni-Hillman explains how, while there are systems that may work in favor of some more than others, it shouldn’t stop people from believing in themselves. Gaining visibility and a seat at the table starts with asking for help, gaining mentors, and surrounding yourself with like-minded people that you aspire to be like. While it might feel like it, success doesn’t have to be a lonely road. You can go much further in community with others.
      Additional Resources:
      If you are looking for employer-reported resources and tools to seek accurate salary data, we recommend the following:
      Hired’s Salary Calculator: Discover tech role salaries for specific markets, roles, and years of experience based on real offers extended to candidates by companies on Hired.
      Hired’s 2020 State of Salaries Report: Understand tech role salaries and compensation trends by market, over time, and across different demographic groups, especially in the rapidly changing world we live in today.
      SalaryList: Online tool with real salary data collected from government and companies – annual starting salaries, average salaries, payscale by company, job title, and city. More

    • 125 Shares179 Views

      in Employer

      Cautious expectation: Future of tech compensation in a COVID world

      by

      In March, uncertainty due to COVID swept the world and disrupted business in a way we haven’t seen before. Since then, companies have managed to continue essential operations and now consider their return to work plan. We’ve come to a crossroads in our post-COVID world where businesses have determined if they are reopening their offices or making the conversion to go and stay distributed. One thing is certain, remote work is here to stay. As companies create a long-term return to work plan, how will work-from-anywhere affect salaries and companies’ compensation philosophy?
      It seems that as companies deliberate and plan what business operations will look like in the midst of this global pandemic, tech candidates also seem to be in limbo. Upon surveying software engineers, product managers, DevOps engineers, designers, and data scientists for our 2020 State of Salaries, respondents let us know how COVID and going remote has impacted their work and compensation expectations moving forward.
      Compensation expectations in line with pre-COVID offerings
      In Part 1 of our 2020 State of Salaries report, we discuss how since  has been year-over-year growth in all major tech hubs so understandably, candidate compensation expectations are aligned and look upward. Candidates expect their salaries to maintain, if not increase, in the near future regardless of the conditions that we now work in. Further, in Part 2, tech employees share with us that despite the effects COVID has had on businesses, a majority (90%) believe that the same work deserves the same pay regardless of where employees may be physically located. It is widely agreed upon that while remote work may be the future of how we work, it seems that tech workers aren’t as open to the potential implications it would have on how they are paid to work. Only 32% of tech candidates surveyed would be willing to accept a lower salary to work remotely and less than 25% would be open to negotiate for other compensation options.
      Relocation more appealing, but not immediate
      The idea of relocation has sparked the interest of tech employees in light of remote work. Although there are various considerations that come into play. More than half of tech employees are neutral or against localized salaries based on where the employee resides and works from–only 40% of tech employees support it. Although, while most tech employees would stay in their current city for at least 3 more years (64%), the opportunity to work remotely has made the idea of moving to an area with lower cost of living more appealing. Following experiencing a new city (31%), cost of living (24%) or the idea of more job opportunities (21%) were top motivators for candidates’ desire to relocate. It would also seem that those who were open to relocation would be interested in other tech hubs outside of their own. Without the ties to a primary office and desk location in order to accomplish necessary work tasks and projects, tech workers are warming up to the idea of work-from-anywhere vs. just working from home, depending on what work requirements may look like as companies think through and update their remote work policies.
      Uncertainty around job security
      In the past few months, collectively we have had to accept that the only thing constant and promised is change. As smaller businesses struggle to stay afloat and larger businesses make hard decisions to undergo layoffs, there are various industries that have boomed in comparison where hiring has continued as normal. The above considerations around compensation and ability to work remotely are likely dependent on remaining in their current position or finding a new one with similar flexibility to what they may experience now.
      Tech workers are divided on their job security and their ability to find new opportunities during this time. 42% of tech workers were concerned about getting laid off in the next 6 months and, conversely, 58% were not concerned. Only 39% of respondents actually wanted to leave their current job but are concerned about finding a new role.
      Time will tell
      As we navigate this remote-first world, time will tell what the right business decisions are and how companies can be successful during uncertain times. Despite the expectations of tech workers, companies will need to take the lead on how to maintain their businesses, how to continue essential operations, and how to best support their employees. In turn, companies will need to determine how remote work and COVID will impact their salary offerings and their overall compensation philosophy. For now, tech workers will look to companies who are taking a lead in the market to share how salary trends will continue moving forward. More