As the pandemic progresses and companies continue to shift to permanently working from home, many begin to see the benefits of working remotely in tech. Big Tech like Facebook, Google, Twitter, and Spotify announced permanent remote work options for their employees. However, it comes with a catch: locally adjusted salaries. Here is how companies set salaries for remote jobs and why bursting the tech salary bubble will help us.

What are the Advantages of Remote Work?

Access to a Diverse Talent Pool

One of the biggest benefits of working remotely is that employers have access to an otherwise unreachable talent. Many employers now see working from home as an integral part of attracting and retaining top talent. To stay ahead of the competition, they must provide the option of effective telecommunication. This also gives employers better access to a diverse talent pool of technology professionals. As more companies go this route, remote workers will begin to benefit from locally adjusted salaries.

man coding on computer at home experiencing benefits of working remotely and locally adjusted salaries

Improved Employee Experience

A recent survey indicates that 38 percent of workers say they are happier with their job now than they were before the outbreak. Given the option to work from home, employee retention can increase. Allowing businesses to experience more growth is another convenient benefit of working remotely.

Locally Adjusted Salaries in Tech

At first, seeing that Big Tech will adjust salaries based on location may seem wrong or unfair. Many already voiced their concern over how companies set salaries for remote jobs. Besides, if doing the same work as someone who worked in Silicon Valley, why should talent be paid any differently?

Locally adjusted salaries in tech are one of the benefits of working remotely since it can help solve the wage and opportunity gap by bursting the tech salary bubble. Upwork released a report, “When Work Goes Remote” which indicates that remote work helped shift economic activity in less expensive labor markets.

The findings indicate that a mutual benefit of working from home exists. In the long term, independent professionals can earn more while businesses can lower their costs. As one of the first of Big Tech to make these announcements, CEO of Facebook, Mark Zuckerberg, stated that employees have the option to permanently work from home.

man working happily from home experiencing benefits of locally adjusted salaries in tech

In addition, he gave up a glimpse into how companies set salaries for remote jobs in the future. They will be adjusted according to an employee’s location. Furthermore, the salary reform would burst the tech salary bubble and allow more accessibility to tech workers.

 “As our research demonstrates, rather than threatening productivity growth, remote work holds the potential to reduce spatial mismatch, lean against the hoarding of opportunity into a handful of cities with expensive housing markets, and help spread productivity across the US, by essentially creating the largest labor market in the world.”- Dr. Adam Ozimek, UpWork

Tech Positions Available

At IT Resources, we focus on information technology professionals. Our industry experience and market knowledge lets us pair the most talented IT professionals to match an organization’s specific needs. As Florida expands, so do our connections in the market for highly skilled technology professionals.

Through continual communication with IT professionals in the local workforce, we can provide your company with the talent you require. Contact us today to learn more about the positions we fill and how we can help you find the top talent you need.

computers set up for remote tech positions

If you consider a position that allows you to work remotely, then take into consideration these our tips and guidelines for working remotely. And as always, a recruiter can communicate what has worked and not worked for others in similar positions. Take advantage of asking them the next time you would like to be a candidate for a remote position.