How Remote Work Is Changing Tech Salaries in the Era of Coronavirus
Coronavirus took the world by storm, sending everyone home. People’s homes became the center of entertainment, work, and schooling. While schools and movies will likely go back to their pre-pandemic norms, a portion of professionals will stay at home. Employees took the opportunity to show working from home wouldn’t deter them from getting their work done. Companies were quick to acknowledge that working from home was a sustainable method for an entire company.
It’s unclear what percentage of employees will return to the office full-time, which will do a hybrid model, and which will be 100 percent remote. Additionally, what will salaries look like for these different models? Some companies have stated pay will depend on locations, while others haven’t indicated if the pay will change. Like any issue, there are many facets to consider, and there won’t be a silver bullet all companies can employ.
Tech Salaries Have Been Growing
Most tech workers enjoy a salary well above the national average. These jobs are in demand, and companies are looking to stay competitive. This competitive nature causes increases in pay, as well as benefits, to retain the best employees. As a result, tech salaries have been growing for the past few years. While social media and digital marketers have been laid off, the demand for tech workers has been rising.
It is likely coronavirus won’t slow them down either. The major tech companies have kept the stock market afloat, even surviving an antitrust hearing in Congress. The coronavirus has increased our reliance on technology for everyday tasks, benefiting these tech giants.
It may seem like these jobs are out of reach if you don’t have any tech skills. Tech jobs aren’t exclusively for those with college degrees. You can become a data scientist with no degree.
Remote Work Increases Accessibility
The chance to work from home not only means no commute but also that you don’t have to relocate once you get a remote position. The shift will change the working culture. It’s not unfathomable to have a neighbor working for a company you have never heard based in a different country. People will still want to go to the office, but a good portion of employees may choose to only go to the office infrequently, if at all.
Jobs will be available to a broader selection of people even if the company is a few hours away; your chances of landing the job increase because of a more accepting view of remote work. You still may need to travel to the office, but overall your work can be completed remotely. A Los Angeles bootcamp grad can work for a Silicon Valley startup without giving up their beach lifestyle.
Tech Jobs Aren’t Exclusive to California
Even before the era of remote work, tech jobs have been available all over the country. Michigan, Pittsburg, and Austin are all growing tech hubs. Not all companies have a desire to be in California. Many are happy where they are for tax, culture, or economic reasons. Your hometown has a company that is looking for tech professionals. The salary may not look like one a California company might pay, but it will still pay handsomely.
Startups receiving money from venture capital firms are also common in Massachusetts, New York, and Texas. This trend will likely grow as many Bay Area tech employees are moving out of state. As talent leaves California, more unicorn startups will be from outside California. You can land a job at one of these startups by attending a top-rated online coding bootcamp.
Remote Work Means No Commute
Commuting is one of the biggest hassles of being a professional. It feels like work, yet we aren’t getting anything done. Regardless of your transportation method, commuting is a time suck. Unless you are a train enthusiast, there is little to look forward too. Reports are linking longer commutes with higher stress and poorer health.
There are times when commuting is the most stressful part of our day. Road rage from other drivers, delayed trains, and construction all add to the workday’s stress. Working from home removes the burden of commuting altogether.
You can also attend a bootcamp without a commute. App Academy is an online bootcamp that offers self-paced and full-time bootcamps to prepare you for an entry-level remote position.
Tech salaries continue to be high during the coronavirus crisis. Remote work will make tech jobs available to more people, such as WordPress developers, while taking away stressful commutes. Even during uncertain financial times, tech jobs have been stable. Our increased dependence on technology will keep tech careers in demand.
CTO of Career Karma
Artur Meyster is the CTO of Career Karma (YC W19), an online marketplace that matches career switchers with coding bootcamps. He is also the host of the Breaking Into Startups podcast, which features people with non-traditional backgrounds who broke into tech.