If you want to attract and hire top technical and sales talent, you have to stay competitive. But with the tech industry constantly evolving and expanding, it can be difficult to stay ahead of the curve.
Our H1 2023 State of Tech report leverages real-world data from successful placements made by CloserIQ to provide you with unparalleled insights into the hiring and compensation strategies of the fastest-growing tech startups in the US.
See our H1 2023 State of Tech Hiring & Compensation Report here.
Here are 3 top hiring and compensation trends you need to know:
1. Hiring remains mission-critical.
As the market began to cool in the second half of 2022, hiring managers swiftly shifted their focus to high-quality, high-impact candidates. On average, hiring processes took 22% longer in H2 2022 than they did in H1 2022. Many companies added steps to their interview process in order to better assess candidates before making an offer.
2. Remote work is still widely preferred to in-office.
Employers may be turning up the pressure to return to the office, but tech workers aren’t on board just yet. 75% of job posts in H2 2022 still supported fully-remote work. This is especially relevant to senior talent, who have more leverage to continue working remotely.
3. Recession fears and cost-of-living increases led to higher base salaries.
As U.S.-based employees experienced a higher cost of living, they prioritized financial security over equity and high OTE options. Average base salaries increased for both technical and GTM talent as companies worked to attract top talent while countering inflation concerns.
- Experienced software engineers saw a 5% average salary increase
- Post-sales roles saw a 13% average increase in base salary
- Sales leadership roles saw a 20% average increase in base salary
Read our entire report for data and insights on:
- Current compensation benchmarks for U.S.-based software engineers and sales roles
- Top hiring sectors and trends in technical and GTM recruiting
- Interviewing and hiring timelines for venture-backed startups
If you are looking for job opportunities in tech, click here.