In the second edition of its Global State of Tech Salaries report, Hired.com has presented salary information related to 16 of the world’s biggest tech markets, accounting for company size, years of candidate experience, location, and actual job offers made to real people.
Globally, the trend of US-based companies offering significantly better compensation to it software engineers continues. According to Hired, one of the most likely causes for this is that the United States’ tech market is the most mature. Within America, Silicon Valley still rewards its patrons most handsomely, closely followed by Seattle, New York, and LA.
However, it may be losing its footing with the cost of living in San Francisco making cities from around the world — Austin, Melbourne, Seattle, and Toronto — more viable. For example, the $110,000 a software engineer in Austin makes is the equivalent of making $198,000 in San Francisco, given the lower cost of living in the former. Similarly, even as Melbourne’s average compensation is USD 107,000, it amounts to making nearly $150,000 in San Francisco.
Hired also notes that companies across the globe are gunning for bringing the best candidates to their markets, and are reportedly paying higher sums to candidates choosing to relocate, especially in European, Canadian, and Asian markets, where non-local candidates can earn up to 57 percent more than locals.
Product managers and data scientists
Product managers rake in the highest average salary offers in the US, out of any other tech role, at roughly $138,000, with their demand and packages increasing steadily year on year.
Hired has also listed the skillsets that are in highest demand, based on which candidates receive the most interview requests.
For product management, the list reads: Business development, project management and strategy, Java, Ruby, agile methodologies, and data management.
The skills mentioned under data science are machine learning, data analysis, Python, SQL, statistics, and R.
One must also take into account the biases that play out, unconsciously or otherwise, in the hiring cycle. They have collected voluntary demographic data from candidates on their platform, to determine how a candidate’s racial, social, economic, and cultural identity affects the offers he or she receives.
Average preferred salaries and salary offers by race
The emphasis on fixing the diversity data in companies seems to be increasing, however, not in a truly all-encompassing manner. Simply considering San Francisco and New York, African-American candidates are 49 percent more likely to get hired than the average white person, but the average Latino candidate, on the other hand, is 26 percent less likely than the same, while the average Asian candidate has even weaker odds, specifically, a 45 percent lesser likelihood.
And while the average white software engineering candidate asks for a preferred salary of $126,000 and receives about $125,000, the African-American candidates seek lower packages — —$113,000 — and receive lower compensation — $115,000 as a result.
Latinos and Asian candidates' expectations and deliverances are on par with white candidates.
Ageism has also invaded the hiring process — people aged between 25 and 30 get the most job offers, and once past the age of 45, there is a decline in their average salary as well as the number of offers.
Salaries peak around ages 45–50, but, post that mark, the individuals’ ability to bargain and subsequently draw salaries fitting their experience, falls, indicating that after a certain age, experience is less valued than agility, fitting into the fast-paced corporate grind, and adeptness with new technologies. The most demand generated on their platform is for candidates with two to eight years of experience.
*All the graphs and charts belong to Hired.com