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About Future Of Work Jobs And Careers After COVID 19

The coronavirus pandemic has shaken the world in many ways. There is a global health crisis, with many countries struggling to stop the disease. This has led many countries to implement quarantines to avoid more deaths. COVID-19 lockdowns have directly affected the way we work. Many people have lost their jobs because they were unable to work in these conditions.

However, other companies saw remote work as an opportunity to change work dynamics. Remote work allows these companies to operate, while also reducing expenses such as energy and rent. For that reason, many people believe that work won’t be what it used to. Remote working might become a better alternative for most businesses. But, how does it affect salaries?

The way each company handles salaries is different; while some have decided to pay wages depending on location, others have stated they’d prefer to maintain the old ones. Here, we show you how remote work is affecting salaries.

Tech Salaries Have Been Growing

Tech salaries are naturally high. According to Glassdoor, most tech salaries are above $100,000 a year. This is because the demand for tech workers has risen in recent years. High demand usually results in higher wages. On top of that, there is a shortage of tech talent.

During the COVID-19 pandemic, tech workers comprise the bulk of professionals working remotely. Their job didn’t stop during the pandemic. In fact, their workload may have increased during the lockdown, as most tech companies have remained afloat during the outbreak.

New Skills Have Become More Valuable

People in roles that involve physical effort might not be working during the quarantine to avoid the virus. Therefore, in-demand jobs during quarantine are those that can be done remotely. The tech industry has continued to stay afloat because most professions have already worked remotely for a while.

During the lockdown, some skills have become more valuable than others. Besides medical skills, others like data science, machine learning, software development, and digital marketing have become more in-demand.

Data scientists have been working in the healthcare industry to evaluate the nature of the new virus: the trends, the way it spreads, and how we can predict future phenomenons. Likewise, marketing doesn’t stop. Especially during this situation, companies need to find innovative ways to continue selling their products or services.

And the list goes on. Although many people lost their jobs during the pandemic, others are thriving and being resilient. If you’ve lost your job during quarantine, you probably need to find an alternative to work so you can survive financially, and many people have opted to learn new skills.

Localized Compensation

Every year, the company Hired releases a State of the Salary Report, showing the current tech wages landscape. This year was no exception. However, this year, in particular, is special. The coronavirus pandemic drastically influenced the way companies handled salaries. The main reason for this change is remote working.

How are companies going to handle salaries for remote workers since most of them will move to other cities? The answer is simple: by implementing localized compensation. This means that companies pay salaries depending on the region in their employees are currently living. But why? Wouldn’t this make some workers earn less than they did? Yes, but it’ll all depend on the cost of living in the city.

According to Hired, the average tech worker in San Francisco makes $155,000 a year. If SF-based workers decide to move to Austin, it would be the equivalent of making $224,000 a year. Due to this difference in the cost of living, most companies have agreed to pay their employees based on their quarantine location.

Salaries Before and After COVID-19

In this year’s report, Hired divided the study into two sections: before and after COVID-19. We can see that most tech workers were experiencing a jump in their salaries in the before section. San Francisco tech workers reached a 7% salary increase, while technical employees in Austin increased by 10%. Project managers were the best-paid professionals, reaching a $155,000 annual salary.

After the coronavirus outbreak, the list looks a bit different. They introduced the localized compensation dynamic, where most companies started to pay their employees by region. Besides, 42% of surveyed workers said they were concerned about the possibility of being laid off during quarantine.

The Future Landscape of Work After the Pandemic

Nobody can predict exactly how it’ll be after COVID-19. However, there are some possibilities we can consider. According to the same report from Hired, more than half of surveyed employees said they wouldn’t agree to a salary reduction if their employer decided they had to work from home permanently. Although many people think that remote working is great, they don’t usually consider the implications on salaries. However, a salary reduction makes sense if the cost of living in your city is lower.

If you’re wondering whether remote work will be permanent or not, just look at the number of people who are willing to go back to the office after COVID-19. According to the Hired report, only 7% of tech workers would like to go back to the office after quarantine.

Remote Learning Is Possible Too

When you see the current work landscape, you’ll probably feel more motivated to learn new skills. This is entirely possible during the quarantine. Many online coding bootcamps and universities are now offering remote education.

Whether you’d like to learn software development, digital marketing, or project management, now it is the perfect time to do it. Most of these online schools offer flexible payment methods and even money-back guarantees. Don’t let this situation defeat you and enhance your resilience. This way, you’ll be investing your time in something that pays off in the end. These are about Future Of Work Jobs And Careers After COVID 19.

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