Over the years, big tech jobs earned a reputation for their high salaries and endless supply of perks.
But now, new research from Blind suggests tech workers are forgoing higher salaries. 56% of workers reported being willing to accept equal or less pay.
What are the reasons? According to the survey, which collected responses from 7,322 tech workers, big tech layoffs play a part. 45% cite the turbulent job market as the reason for forgoing better pay.
But the challenging labor market and recent wave of layoffs — which have already claimed 200,000 jobs — aren’t the only motivations.
The research also suggests company culture, a healthy work-life balance, and remote options being prioritized over big paychecks.
19% of workers are willing to sacrifice inflating salaries for a positive company culture, while remote working options and career growth opportunities remain other top priorities.
According to Blind’s survey, junior workers with two to five years of industry experience are the most likely to drop their salary requirements.
Software engineers in major tech hubs like Silicon Valley, Seattle, and New York have fallen victim to the largest decline in salary expectations, with a medium decrease rate averaging at 10% year-on-year.
