Hired’s 2023 State of Tech Salaries
Get detailed insights to adapt and keep moving forward in today's hiring market
Can you feel it? The tension is everywhere. It’s in the behavioral and survey data. It’s on social media. It’s in the misalignment between recruiter and job candidate expectations. Tech hiring has changed dramatically from 2022 to 2023.
We witnessed impacts from layoffs, hiring freezes, inflation, and the explosion of generative artificial intelligence (AI). We saw a turnabout from “work from anywhere” policies to “we’re going back to the office and this time we mean it.” As a result, we’ve seen significant shifts in the markets tech employers target and the candidates’ expectations in them.
So, how are we to balance all of these factors, especially those in direct opposition to one another or threatening another steep fall?
Here’s what we do – we learn from it. We’re already seeing signs of tech hiring picking up again. So we do what the tech industry does best – adapt and keep moving forward. We’re here to give you the pulse on up-to-date skills, salaries, benefit preferences, and market insights so you’re ahead of the curve. This guidance and support is here to help you plan and to hire the best technology team in any market environment.
Josh Brenner
CEO of Hired
US tech salaries have seen the largest year-over-year decline in the past five years. Inflation-adjusted tech salaries are down to their lowest point in five years, but demand for experienced talent remains strong.
This year, benefits such as mental health care, paid parental leave, and wellness stipends leapt in front of one-time cash bonus.
Generative AI appears to be threatening junior talent, or those with less than four years of experience the most, but also presents opportunities for new roles and applications.
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Methodology
This report is based on Hired’s proprietary data from real interview requests (IVRs) and IVR salaries on the platform from companies to tech professionals, collected and analyzed by Hired’s data science team.
For this report, we focused on tech talent in our top activity markets spanning the US, UK, Canada, as well as those pertaining to remote positions. This report also analyzed more than a million interview requests communicated to nearly 250,000 jobseekers facilitated through our marketplace from January 2019 through June 2023.
Age, race and gender data was collected through an optional demographics survey given to Hired candidates used only for aggregated research purposes and not shared with Hired clients.
Where numbers have been adjusted to reflect the cost of living in a certain market, we used data from the site Numbeo, which factors in things like rent and real estate prices, groceries, transportation, utilities, local taxes, and more.
For more details, including terms and definitions, please download the report.