How Remote Work Is Changing Tech Salaries

How Remote Work Is Changing Tech Salaries

Covid-19 was the spark for companies to build remote work into their corporate structure. Tech companies are moving away from their extensively thought out and beautiful campuses and allowing employees to stay home and complete their work. Before Covid-19, companies were afraid remote work would be a detriment to the productivity of their employees. Tech CEOs quickly changed their tune as they saw worker happiness and productivity increase and announced that employees could remain at home even after it was safe to return to work.

Employers weren’t the only ones enjoying remote work—over half of respondents to a Gallup survey said they would quit their job to work remotely. Remote work is becoming a sustainable model of work for both employers and employees. 

Work from home

Employees Are Taking Back Their Lives

Work-life balance is growing ever more important to job seekers. They don’t want work to invade their lives any more than it already does and want a clear separation between their work and home lives. The remote work forced by Covid-19 created a challenge of setting boundaries as our spaces of relaxation were marred with work laptops and new monitors to keep our work production stable. The concession for removing the commute was working a little longer each day and taking more meetings since face-to-face chats no longer happened organically.

As the epidemic lasted for months, employees began wondering their motivations for staying at their current job. While salary is an important part of job selection, employees started to see the possibilities of remote work. The mental and physical rewards of remote work are making employees consider pay cuts and looking for remote jobs to continue working from the comfort of their home.

Remote Work Isn’t for Everyone

While tech companies have been at the forefront of accepting remote work, not all have been so keen on the work from home movement. Reed Hastings, CEO and founder of Netflix, sees remote work as an overall negative to the culture of work. He feels that virtual meetings make it harder for employees to disagree with one another, which may lead to plans that aren’t properly vetted. The success of remote work is, in part, a success because of the pre-established culture the office created. 

While Netflix employees will likely return to their offices when vaccines are available, current employees who enjoyed remote work might start practicing situational interview questions as they search for companies that support remote work.

The negative views towards remote work by Netflix are an exception in the tech world. Social media giants Twitter and Facebook have extended remote work to indefinite periods of time. Employees, from digital marketers to program managers, are extended the luxury of completing their work at home. This will cause some realignment in pay structures for employees at Facebook. The company has indicated pay scales will be adjusted at the end of 2020 for those who have left the Bay Area for a reprieve in the high cost of living. Netflix employees who adore remote work might start drafting their two weeks’ notice letter for the remote working landscapes at Twitter and Facebook. 

Tech Careers Promote Remote Work

Tech companies are accepting remote work more quickly than in other industries. Tech companies were able to keep a majority of their employees during Covid-19 as people turned to the Internet by shopping online for their daily essentials and entertainment. The lack of layoffs shows the importance of Internet-based companies to our society and economy. This may lead recently laid off off workers and people who desire a secure job to get jobs in the tech industry. Unlike health careers that take years of schooling, tech skills can be learned in a few months.

Coding bootcamps are providing ambitious professionals the opportunity to learn computer science skills coveted by tech employers. Coding skills aren’t only for everyday tech companies, but also for smaller, regionally-based companies who need functioning websites and IT managers to keep computer systems online. A coding bootcamp can be a great way to leverage your current skills to achieve a higher salary and increase job security. 

Remote Work Has Benefits Other than Salary

Tech employees are searching for benefits other than salaries when they consider remote work. Most companies did not alter salaries during mandated remote work and won’t let remote work affect compensation. Employees are realizing they don’t need to depend on their employers to have a proper work-life balance. 

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