Tech salaries and contract rates have increased 15% to 20% on average, despite global layoffs and a slowing market, according to technology recruitment company Talent.
Talent's salary guide 2023 looks at the most in-demand tech skills, salaries and contract rates for key tech positions in 2023.
Accordingly, data analytics, testing and cloud infrastructure roles have had the highest contract rate growth at 15-20% on average since 2022.
Overall, professionals with security skillsets are in high demand with security salaries seeing average growth of 20% in the past year.
The fastest growing tech skills in 2023 are cybersecurity, data analysis, microsoft azure and python (programming language).
Demand remains high for the following skills:
- Microsoft azure
- Cybersecurity
- Data analysis
- Python (programming language)
- Help desk support
- Amazon Web Services (AWS)
Matthew Munson talent managing director NSW said: “The beginning of 2023 is showing a continuation of the trends we saw at the end of 2022. The headwinds caused by rising global inflation, the resulting interest rises and the ongoing impact of the Ukraine war on supply chains continues.
"What we are seeing is a knock-on effect on organisations hiring confidence, as employers are unsure of how this year will play out and how long the global inflation problem will continue.
"The result is a market that is similar to the pre-pandemic conditions, with employers either taking a cautious or bullish approach.
"The more cautious have decreased hiring and in some cases implemented hiring freezes, whereas the more bullish are taking advantage of the market to increase their hiring whilst their competitors hesitate.”
Simon Yeung talent managing director VIC said: "There have been a number of significant changes to the national and local economic landscape, particularly in the past six months, which have affected the Victorian tech sector and the IT labour market, however the tech sector nationally remains strong.
"As 2023 unfolds, we predict a steady and stable balance between market demand and supply as the economy rides out the last of inflationary forces.
"We are seeing a rise in businesses requiring their employees to work onsite for minimum 2-3 days, but with candidates still in the driver’s seat, flexibility remains strong on their agenda.”
The global technology market is evolving and growing. As a $5 trillion global industry, it has significant power in both providing opportunity to the workforce as well as rapidly disrupting the international work landscape.
Although candidates are proceeding with caution, the tech skills shortage remains, meaning top talent is still in the driver’s seat.
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