Tag: tech sector

Green shoots of recovery offer hope to tech industry

Tech workers have seen maximum salaries climb by as much as 30% since last year, in early signs that the sector is bouncing back from the challenges it has faced since the start of 2022; including major layoffs across high-profile firms such as; Google, Amazon, Microsoft, Yahoo, Meta, Linkedin, Twitter, Zoom and Salesforce.

Data comes from the latest Salary Guide from Aspire, a recruitment agency specialising in the technology and digital sector. The guide benchmarks salary growth across a range of job roles, based on vacancies registered with Aspire between April 2022 and April 2023.

Increases are as high as 30% for Junior-Mid Quality Assurance (QA) Engineers, whose maximum earnings have jumped from £35,000 to £50,000. At the entry-level, Graduate Data Analysts have also seen their maximum salaries increase by 7% from £28,000 to £30,000.

The tech industry has been hit hard in the last 18 months by the economic downturn, with massive layoffs and hiring freezes. Just one role out of 15 analysed has experienced a salary decrease compared to the previous year. Mid-level User Experience (UX) and User Interface (UI) designers have seen their maximum earning potential fall by 10%, from £55,000 to £50,000, though Junior Designers have seen salaries increase by 13%.

The minimum earnings for Chief Technical Officers (CTOs) have jumped from £80,000 in 2022 to £150,000, increasing by 87.5%. These workers can expect maximum earnings upwards of this figure.

Head of Engineering roles have seen salaries remain stable, with maximum annual earnings at £120,000. This is also true of many other roles, which have shown resilience despite the challenging circumstances the sector has experienced.

Aspire’s Global Managing Director, Terry Payne, said: “The tech sector has gone through a difficult period over the last 18 months, with widespread redundancies at big-name firms. But steady salary growth across key roles looks like the first green shoots of recovery – a welcome sign for employers and candidates alike.

“Layoffs across the industry mean there are plenty of highly-skilled candidates on the market. Employers with ambitions to grow beyond the struggles of the last year can attract these workers by offering competitive salaries. I’m optimistic this marks a turning point for the sector.”

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70% of respondents say their organisation should do better in terms of diversity

New research by released by Thoughtworks, a global technology consultancy, has revealed that employees in the tech sector believe that their employers are not doing enough to prioritise gender equality, this despite the clear ethical, social and business benefits for doing so.

Alarmingly, the national survey of 500 employees from UK tech and software companies found just two in five (41%) of organisations in the sector had a plan in place to improve gender equality in the workplace.

In terms of initiatives, only 23% of people in the tech sector said their organisations had a return-to-work programme for working parents and carers, while 27% offered diversity and inclusion training.  Just one in four organisations (25%) offered mentoring for employees.

Overall, three in five respondents believed that their organisation should be doing better in terms of diversity, equity and inclusion (DEI). Around half (51%) said their organisation was behind the industry with 16% believing their company has no plan to address DEI issues at work.

Despite these concerns, the vast majority of employees in the IT sector (87%) agreed there are business benefits from championing DEI issues. Two in five say that it would foster better employee relationships (39%), with the same proportion believing it would increase staff retention (38%). At a time when skills shortage in the UK tech sector is up 191% compared to the same period for 2020[1], the need for initiatives that will positively improve employee engagement and retention is particularly pressing.

Amy Lynch, head of Diversity, Equity and Inclusion at Thoughtworks UK commented: “Our research findings make clear that, from an employee perspective, our sector must do more to foster a true sense of equity and diversity.

“If staff are concerned, as this research suggests, then the messages are not getting through. At Thoughtworks, diversity, equity and inclusion are at the heart of our business.

“We decided to partner with WORK180 and go through their endorsement process as a commitment to our public stance on increasing diversity. WORK180 promotes organisational standards that raise the bar for women in the workplace. The work that WORK180 is doing with Endorsed Employers such as Thoughtworks is already having a positive impact, but it’s not over yet.”

Amy Lynch added: “We won’t stop until all women are able to thrive and feel equally valued at work. WORK180 is a hub for like-minded individuals who want to make that change, and who are also searching for employers like Thoughtworks that want to make a real and lasting difference for all women.”

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