How Remote Work Is Changing Tech Salaries In The Era Of Coronavirus

It seems nothing is normal as Covid-19 seeps into every area of our lives. Work, travel, and vacation all look dramatically different from how we imagined them at the year’s start. Those lucky enough to have a job face many decisions as we slowly move forward from this pandemic. A big question facing those in tech is salaries—will they still be steady as companies navigate these tumultuous times.


How Remote Work Is Changing Tech Salaries In The Era Of Coronavirus


Historically, tech workers earn higher than average salaries, many of them obtainable with no degree. The same goes for digital marketing jobs. As everything around changes, we need to think critically about our career moves as we are no longer in an economy where it seems stocks are perpetually rising.


Whether staying put in your current position, seeking a promotion, or just entering the tech field, there are many considerations to take into account. There are no sure-fire decisions, and each option has its level of risk.


Gaining Tech Skills


If you regret your psychology degree or opted to go straight into the workforce, it’s not too late to learn tech skills. It might seem like the wrong time for a career change, but there are still thousands of entry-level jobs at tech companies. As the corporate world rearranges itself and adjusts to the economy-wide changes, you might have a reason to pursue an opportunity in a growing job field. 


Bootcamps are an excellent option for learning skills to market yourself to potential employers. Bootcamps focus on building and applying skills you will actually use at an entry-level tech job. You may opt to learn one of many programming languages or a specific software program. What you learn is up to you. 


Tech Jobs & Salaries


Future Job Market


Covid-19 has put a real damper on hiring and job retention. Millions of people are experiencing unemployment, even highly skilled workers. The amount of uncertainty is forcing people to hold onto whatever income they can earn. Those out of work are applying to the same jobs as the millions of other people without jobs, creating a busy and competitive job market. 


Major tech companies keep the stock market afloat and provide a beacon of hope of getting out of the recession. The success of tech companies is also transferring to tech jobs. Companies have seen a significant uptick in online orders, as we try to avoid spending considerable time close to others. This isn’t just for take-out food orders; online purchases have increased in retail, groceries, and pet food. 


Remote Working


Remote Work


As remote work becomes more favored by employers, it’s possible to get a tech job without leaving your hometown. This 21st-century application of technology may be one of the driving forces of workplace organization. It allows a graduate from a Seattle coding bootcamp to line up jobs in Silicon Valley or Texas as tech companies hire more remote workers. 


Full-time remote work might not be available at all companies. But if remote work is something you desire, companies will be willing to hire remote workers and freelancers. Remote work might be the most unpredictable of future work situations. Should companies pay their employees more because of cost savings, or will they try to save money by hiring from less expensive markets? 


It’s a safe bet that not all companies will promote work. If remote work gets implemented across most companies, there will still be employees, and employers, who prefer an actual working setting, for many valid reasons. 


Predicting Your Salary


Those currently employed and those out of work might not have the luxury of their pick of jobs at the moment. The pandemic has put job security in a fragile state. Companies are pinching pennies as quarterly and annual revenues fall below predicted levels. That means no job is safe at the moment.


These losses might mean predicting your salary is more complicated than before. Companies might not be willing to spend for experienced tech workers and opt for a larger team of less-skilled employees. On the other hand, they might prefer to have a few higher-paid positions, but with a heavy workload. Even experts are at a loss in the current economy.


Tech Job Salaries


Still Hope for High Salaries


As uncertain as the job market may be, there is hope for individuals with computer science skills or the dedication to learn them. High salaries are still obtainable, and any salary is desirable for those who are competing for jobs.