What happens when tech talent teams, used to analyzing data to identify patterns, look introspectively at data about their own roles? Over the last few years, industries from technology to hospitality have experienced significant shifts.

The Great Resignation pressured employers to offer higher compensation and in a post-pandemic world, flexibility is paramount. Coupled with the economic uncertainty that led to more than 240,000 layoffs last year, the tech industry is on high alert.

In the last quarter of 2023, we released our annual trend report, Unveiling Emerging Tech Talent Trends in 2024 and Beyond. The report, which is based on data gathered and analyzed from our platform’s database of over half a million technical candidates using figures from jobs offered, jobs declined and locations is designed to illustrate the state of tech hiring and predict what is and will remain important to candidates and employers.

Overall, the data tells us that salary discrepancies, potential for upward mobility and development, and diversity and inclusion are top of mind for hiring managers and tech talent alike. In 2024, there is pressure to continue hiring to innovate. Stagnation risks the loss of strong technical talent, forcing global businesses, especially those that are not digitally native, to struggle to compete with more nimble tech-first competitors—both for talent and customers. Tech talent has made their expectations clear. How hiring teams respond will set the tone for the next era of technical hiring.

Money Matters: Navigating Salary Expectations

Money continues to make the world go round. As the primary motivator of employment, it’s no surprise that the biggest point of contention between tech talent and their employers is salary.

High salaries are something that tech talent has come to expect, but be it because of market inflation or simply a post-Covid-19 adjustment, entry-level salaries aren’t what they used to be. According to our report, the average junior salary has dropped by roughly $12,700 in the last five years. Adding fuel to the fire, recent media buzz has spurred fears of the loyalty tax or the risk of being financially penalized for staying with the same company when there would be higher-paying jobs if they moved elsewhere. Combined, this has left new talent yearning for more and ready to leave at a moment’s notice when they don’t get it.

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