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    2022 UK State of Tech Salaries

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    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

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

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      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

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      in Talent Acquisition

      What Does Your Tech Salary Look Like? A Review of Salary Trends

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      When thinking about how your tech salary stacks up in this current hiring environment you’d consider factors like your job title, years of experience, and company size. 

      In this article we dive into these characteristics in relation to tech salaries based on data from Hired’s 2022 State of Tech Salaries. 

      Related: Should I Stay or Should I Go? Workers Explore Relocation to Improve Quality of Life, Pay

      So, What Do You Do?

      If you’re an Engineering Manager, you are paid more than other tech roles across the US, UK, and Canada. The US pays the highest for this role with an average of $196,000 (remote salaries reach $198,000!).

      The runner up for highest salaries in 2022 is US Software Engineers with average salaries of $160,469. US Product Managers take third place with average salaries of $157,602.

      For those who are not in Engineering roles (Design, Data Analytics, and Quality Assurance), the good news is these positions saw the highest salary increases from 2021 to 2022.

      In 2022, salaries for:

      Design roles in the US increased by about 8% to an average salary of $153,005 USD. The same roles in Canada increased nearly 20% to $121,773 CAD.Quality Assurance (QA) roles in the UK rose almost 10% to £68,215 GBP.Data Analytics remote salaries in the US increased about 8% to $142,565 USD.

      How Long Have You Been On the Job? 

      Years of experience will certainly sway your pay. Generally, working in tech longer correlates with a higher salary.

      It may not be surprising that those with more than 2 years of experience saw major salary growth in the US and Canada. 

      Mid-level (4-6 years of experience) US candidates, in particular, had the greatest salary jump – a $8,000 increase from 2021 to 2022. 

      Again, excluding very junior level roles (0-2 years of experience), remote salaries across all experience levels also saw increased growth between this year and last at $7-8,000 USD.

      Junior candidate salaries (1-2 years of experience) remained steady with little changes compared to 2021 in the US. However, they increased in the UK and for remote roles but decreased in Canada. We might attribute the salary decline to the increase of junior level  jobseekers on the platform.

      How Big Is Your Company? 

      It’s easy to assume the largest companies are associated with the highest salaries. 

      Contrary to popular belief, our data this year found that mid-market sized companies (300-1,000 employees) offer the highest average salaries in the US ($163,623) and UK (£85,312). That means they are passing up SMB (75-300), eSMB (0-75), and even the enterprise ENT (1000+) sized companies.

      However, in Canada enterprise-sized companies did pay the highest salaries. While this conforms to that conventional notion, note the pay was only slightly higher.

      How Does Your Salary Compare? 

      Use Hired’s Salary Calculator to see how companies value your experience. The calculator determines salary benchmarks based on real interview requests to help jobseekers like you know your worth. 

      Say you’re a Software Engineer with 5 years of experience. You’re based in Boston and skilled at Java. Here’s what the output would look like: 

      Give the calculator a try and see what you could be making with a company on Hired!

      We’ve reviewed some common parameters that contribute to how tech earnings might look. Framing what you earn around these trends may lend some insight into how your salary compares in this current hiring environment. 

      There are a lot more factors to explore including location, benefits, and being remote versus local. Check out the new State of Tech Salaries Report for all of the insights into tech salary trends and some more resources to help you navigate the market.  More

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      in Talent Acquisition

      Should I Stay or Should I Go? Workers Explore Relocation to Improve Quality of Life, Pay

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      Despite tech salary increases this year, many employees feel their pay does not reflect increased costs of living. According to Hired’s 2022 State of Tech Salaries report, 42.3% of remote respondents and 29.1% of local respondents surveyed feel their salaries have not matched the pace of rising inflation and living costs. Many have explored relocation already. So, if you’re a tech professional, should you stay or should you go?

      How Far Does Your Salary Take You?

      Let’s say you’re a software engineer living in the San Francisco Bay Area and earning an average tech salary of $176,000. Seems solid, right? Then you take into account the cost of living (COL) there and things take a turn.  

      Note: “Average tech salary” includes multiple roles on the Hired platform, including software engineers, engineering managers, devops, designers, analysts, and more.

      After adjusting average salaries on the Cost of Living Index, we find earning that same salary in San Francisco is equal to making $223,729 in Atlanta. Relocation becomes an attractive option when it is clear earning power is different across markets. If you move to Atlanta, it’s like getting a $47,729 raise! 

      Perhaps you’ll consider Texas, where there are the second and third highest average salary markets in 2022, after adjustment for COL. Your San Francisco salary is the equivalent of making $216,000 in Austin and $211,000 in Dallas. 

      In contrast, if you consider relocating from the West Coast to the East Coast in a big move to New York, your San Francisco salary won’t take you as far. New York City had the highest COL in US markets. This means your San Francisco salary would be the same as earning $153K in the Big Apple – or over $23,000 less. 

      Should You Consider Relocation?

      So, will you stay or will you go? 

      If you’re considering settling in a traditional tech hub like New York or San Francisco, know your earning power will go farther in smaller, second tier cities. 

      Thanks to remote work, tech jobseekers are increasingly based in lower cost of living cities, such as Denver, Austin, Chicago, Dallas, and Atlanta. Jobseekers from these cities rose by almost 8% from 2020 to 2022. Conversely, tech jobseekers in higher cost of living cities, such as New York, San Francisco, and Boston declined. This points to an exodus from major tech hubs. 

      Tech workers are increasingly distributed across the country thanks to remote work. A recent study from Brookings Institute found tech “superstars” like Seattle and San Francisco metropolises are seeing slower employment growth compared to “rising stars” like Atlanta and Dallas. As for “the rest,” or the other 83 metro locations studied, these areas saw tech employment grow faster in 2020 throughout the pandemic. 

      Inflation Grows No Matter Where You Relocate

      In addition to the cost of living, many feel their salaries fall behind with inflation too. 64.5% of remote employees and 82% of local employees surveyed feel their salary is not in line with inflation. 

      Since the pandemic dramatically increased the ability to work from home (or anywhere) tech workers moved away from higher cost of living areas. In some cases it was practical. There was no longer a need to live in a higher cost of living area or they wanted a larger home to accommodate sometimes multiple home office spaces. Others moved to be closer to family, or simply because they were free to live in places they’d always wanted to. 

      It’s little surprise then, that most candidates still prefer pay based on their role. Only 20.2% strongly agree that pay should be determined by location or local cost of living. 

      Between growing costs of living and higher inflation rates, tech professionals may want to explore relocation. Shedding light on how far salaries can take you across locations does offer some guidance in knowing whether you should stay or go.   More

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      in Employer

      2021 State of U.K. Tech Salaries

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      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

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      in Employer

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

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      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