It’s Never Been a Better Time to be Employed in Tech.
Technology professionals in British Columbia have seen their salaries rise once again, indicated by results from HR Tech Group’s annual BC Tech Salary Survey, released today. The report covers employment practices including salary forecasts for 2019, overtime, perks, vacation, paid time off and more.
Median salaries in BC’s tech industry have increased 3.4% from the previous year, according to HR Tech Group’s findings, with many jobs increasing by much more than that. Entry level software developer salaries, for example, increased 5% to $73,000 while entry level animator and VFX compositor salaries jumped 11% and 12% respectfully.
Now more than ever, BC tech companies need to pay attention to salaries to remain competitive in this talent market
“Now more than ever, BC tech companies need to pay attention to salaries to remain competitive in this talent market,” said Stephanie Hollingshead, CEO of the HR Tech Group.
Even with increasing salaries, 96% of organizations that participated in the survey report having difficulties filling some positions. The most difficult skills to find are software development and programming, cited by 59% of companies as being the most difficult positions to fill.
“BC tech companies are struggling to hire the talent they need. Salaries are on the rise and there is no sign of a reversal in this trend, especially as major tech firms continue to set up shop in town,” continues Hollingshead. “There has never been a better time to pursue a career in tech.”
There has never been a better time to pursue a career in tech
The 2018 BC Tech Salary Survey, conducted for HR Tech Group in partnership with Mercer, includes data on 16,651 individual salaries, coming from 121 companies located in the province. There are 191 positions represented and of these, 28 are new or substantially updated in this year’s survey.
The most popular new jobs for the past year include:
- Research Scientist
- Data Scientist (new levels)
- Cloud Ops Engineer (new levels)
- Lighting Artist
- Technical Animator
The increase in new positions at so many BC tech companies points to the continual growth and innovation of the tech sector in our province
“The increase in new positions at so many BC tech companies points to the continual growth and innovation of the tech sector in our province,” says Hollingshead. “It is encouraging to see the addition and evolution of jobs in our industry. Having a workforce that is adapting to the changing tech needs of the world is key to the ongoing success of BC’s tech industry.”
The survey also points to a trend of employee movement among companies. Notably, less than half (47.6%) of the total employees included in the survey are employed at the same company in both 2017 and 2018. Of those still at the same company, 70% are in the same job and 30% have a new job. These figures indicate that there is a great deal of churn in the industry.
However, it paid off for the employees who remained in the same job at the same company. These employees saw a higher than average increase of 4.5% in base salary. This was even higher for specific positions, for example a Data Scientist in the same job at the same company averaged a 12% salary increase. These findings suggest companies are increasing salaries for some key roles in order to retain talent in a competitive landscape.
About the BC Tech Salary Survey
HR Tech Group, in partnership with Mercer, releases the annual BC Tech Salary Survey. For more than 20 years this Survey has been the definitive resource for the high tech sector in BC. While the survey is based in BC, the data is relevant for all Canadian high tech markets, with several national and international organizations participating.
About HR Tech Group
HR Tech Group is an association of human resources professionals employed in BC tech companies. The group produces the leading BC Tech Salary Survey and provides new and benchmark data that keeps members up to speed on local business practices in tech. HR Tech Group serves over 150 mid to large member companies in all tech sectors including ICT, film/ VFX, digital media, clean tech and life sciences.