2022 Job Market & 2023 Compensation Packages

February 15, 2023

Hi there! Check out a quick and helpful insight into 2022 job market and 2023 compensation packages! We did some research by reading the “IT Job Market in 2022” e-book from NoFluffJobs and Betts 2023compensation guide. We hope you find it useful and enjoyable 😊

Let’s dwell on the 2022 job market… cause wow! It was really heating up! With an 8% increase in job postings compared to the previous year, there was plenty of opportunity for everyone, from mid-level and senior positions to junior roles. And if you are a tech-savvy individual, you were in luck! A lot of job ads were specifically looking for backend, frontend, and full-stack experts, with the biggest growth in areas like support, big data, and business analysis. Want to know more? Check out the "IT JobMarket in 2022" e-book from NoFluffJobs, it is packed with all the juicy details.

But keep calm, that is not all! If you are not as interested in the strict technology zone of the IT world,  there were also big increases in job postings for roles in HR, sales, marketing, and back office. NoFluffJobs also adds that in Poland, there is currently a shortage of 150,000 workers, with 60% of people considering a career change into tech, so if you are thinking of rebranding, that is some good news for you. Curious about job markets in Ukraine, the Czech Republic, and Hungary? They are worth exploring, so you must read theNoFluffJobs report.

So, what kind of skills are companies looking for? SQL, Java, Javascript, and Python were the top skills mentioned in job ads. And Python, in particular, has been growing in popularity since 2018, so now is a great time to brush up on it!

And here is a fun fact, remote and hybrid work arrangements are becoming more and more common, with 62% of job postings offering remote work and only 28% offering office work. The good news is, NoFluffJobs reports that remote work positions typically come with higher salaries! Plus, who would not love having the option to work from the comfort of their own home?

It is no secret that compensation packages play a crucial role in job seekers’ decision-making process. According to theNoFluffJobs, the most commonly offered ones in job ads are private medical care, sports memberships, foreign language classes, and bike parking. And if you are a fan of working with portable technology, you will be happy to know that laptops are 9 times more likely to be included in job ads than desktop computers. Are you a multi-tasking pro? Great news for you; one out of four ads offers two monitors! So, what are you waiting for? Start your job search today! (Interested in joining us? Send us a message!)

Betts 2023 compensation guide also has some note worthy updates on the subject. With many companies looking to compensate for budget shortfalls, the guide highlights a trend of offering additional monetary benefits to both current employees and job candidates. This is great news for those who are looking to secure a well-rounded and attractive compensation package. Job postings with health insurance benefits included increased by a staggering 40%! The most popular benefits offered were health insurance, unlimited paid time off, commuter benefits, gym membership stipends, meals provided in-office, free Uber rides, and of course, remote and hybrid work options. In 2022, more candidates preferred compensation plans with practical benefits, rather than a higher salary.

Speaking of compensation, did you know that according to the Betts 2023 compensation guide, compensation for tech sales and marketing roles with 0-3 years of experience saw a decrease of 5%-10% on average? But do not worry, sales and customer success positions with enterprise experience were more stable, as were marketing roles with over 3-5 years of experience. And if you are considering a remote role, you will be happy to hear that average earnings for remote positions have now caught up with in-office rates. Employers are now more focused on time zones, rather than specific locations for remote workers, and are even more likely to hire hybrid workers who live further away from the office, as long as they are in the same metropolitan area.

Thinking of making a career move in 2023? Now is a great time! The number of open tech jobs is expected to grow by a whopping 700% in 2023, and even the sales and marketing roles that saw pay drops in 2022 are expected to see average compensation increase again. If you are curious about compensation by location, be sure to check out the Betts 2023 compensation guide!

Become The WIN Specialist
Whether you are an experienced specialist with plenty of successfully delivered projects, a recent graduate seeking to start your professional career or just looking for new exciting opportuniy, WorkITNow is there for you!

Do you have a question?

Thank you! Your submission has been received!

Oops! Something went wrong while submitting the form