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

Last updated on August 30th, 2020 at 11:59 am

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Coronavirus has made 2020 unforgettable, and not for the right reasons. It has driven us from our workplaces into our homes. The transition to remote work was a surprise, but even more surprising was the rate at which people enjoyed it. Many went a step further by saying they preferred working from home to working at the office. We will return to the office someday, but not all of our coworkers will be returning.

Tech companies not only made remote work possible, but they are one of their primary adopters. Twitter recently announced it would allow all of its employees to work remotely, even after the pandemic. Since remote work was adopted so quickly, the kinks are far from being ironed out. Companies need to remain agile, as this abrupt change works differently for different industries, individuals, and jobs. A traveling salesman, if those still exist, is better equipped to work from home than a doctor (though virtual appointments are on the rise).

Tech Salaries Are High At The Moment

Tech jobs are in demand. Companies are racing to get their business to market first. These companies are taking funds raised to pay high salaries to skilled data scientists to improve machine learning. Companies receiving large investments are looking to cash out by going public through IPOs or bought up by larger companies. There is a lot of competition for investor funding. 

Those with computer science degrees have jobs that pay higher than the national average. From IBM to your local WordPress developer, these careers are in high demand. Not only are tech salaries high, but they also come with other valuable perks, like stock options or working remotely.

These well-regarded jobs aren’t exclusive to tech companies. Insurance, investing, and logistics companies are using tech help in their non-tech ventures.

Tech Jobs Are Everywhere

As mom-and-pop diners and hardware stores, companies need tech workers to compete in today’s market. Companies use tech to offer features that make their products appealing, increasing the chance that customers will make a purchase. By providing free tools, companies build rapport with customers and eventually become the authority in their domain. 

Let’s examine the process of buying paint. Paint samples, color wheels, and swatches are a thing of the past. With the help of tech, you can test hundreds of colors in your new nursery. A web developer, who can work remotely, does this type of work daily. Having a tech degree can be your entryway into the field of your dreams. You can even become a Mobile App Developer with no degree. Like tech jobs, most learning can be done remotely as well. 

Will Tech Salaries Always Be High?

The number of people with computer science skills, with or without degrees, has been multiplying since the Internet became so widely available. The opportunity for high salaries revolves around companies’ ability to make money through services offered over the Internet. Since new technology and services are always desirable, this doesn’t appear to be a trend. 

Remote work has only increased our dependency on technology. Servers and websites are struggling to keep up with the demand. Back end developers help improve the performance of websites and programs. The need for Web Developers to optimize performance won’t diminish. Customers are turned off by slow websites and tend to leave for competitors. As long as companies rely on tech services, there is hope salaries will remain high.

Learning to Code Is Affordable

Unlike college or institutions, coding bootcamps are considerably cheaper and don’t take years to complete. Several bootcamps offer deferred tuition until you get a high paying tech career.General Assembly is one such bootcamps offering courses in UX/UI design, web development, and data science. 

Bootcamps are a great pathway to getting an entry-level job in tech. They focus on skills rather than theory. Instead of spending time discussing, students are building their own apps and writing code. Project-based learning helps learners in preparation for their first job in tech. 

You can complete most coding bootcamps remotely. The ability to learn and work remotely will give access to tech salaries, no matter how they change, to people in all markets.

Conclusion

Remote work is going to be around for a while. Even if companies only partly adopt remote work, its prevalence will allow tech workers to earn desirable salaries without leaving their homes.