Our preliminary findings have been compiled using data collected from direct response to our 2023 Tech Industries Census, of which 478 professionals completed over a 8-week period. With over 10,000 data points, this is our most comprehensive survey on careers, salaries, and workplace trends.
Diversity representation from our survey respondents:
- Gender: 84% males vs 11% female, 1% non-binary and 4% preferring not to say
- Age: 73% were aged between 18-44 years old, whilst almost one-fifth (18%) were aged 45-54
- Ethnicity: 51% identified as Black, Asian or Minority Ethnic, with over 30% from the Asian community
- Sexuality & Identity: 6% identified as being LGBTQIA+
- Disability & Neurodivergence: 8% had either a mental health condition (3%) or Neurodiversity (5%)
Despite difficult trading conditions, the Tech Industries continue to be a key contributor to the UK economy, adding over £150 billion and employing over 1.7 million people. Figures from the Government suggest that if investment continues, the sector could create a further 678,000 new jobs by 2025, adding an additional £41.5bn to the UK economy. Despite downsizing, economic turbulence and global instability, over half of businesses (52%) are still looking to hire, showcasing the resilience of the sector.
Our Census highlights that 39% of respondents are open to moving roles within the next 6 months, with the majority in permanent roles stating that a more attractive salary and bonus structure (92%); good work/life balance (85%) and career progression (84%) as their top motivations for doing so. Those in permanent roles earn on average £72,000, with over 61% having received a pay increase in the last 12 months.
Those in contract roles consider day rate (86%), flexibility of working (83%) and having interesting work/projects (82%) as important factors when considering their next project. The average day rate within the UK Tech Industries is £525 per day, with 47% increasing their daily charge rate within the year.
Whilst inflation has decelerated in recent weeks, this is still 4 times the expected rate. With 67% earning less than £80,000 per annum, coupled with the fact that only 31% of respondents had reported their company had put in place cost-of-living provisions, means that many have lower living standards than previous years.
Interestingly over 20% of respondents had reported that their workplace policy had changed recently, and anecdotally we are seeing many organisations mandate days back into the office. This is at odds with what employees want, with over 50% preferring hybrid models and 47% desiring remote working.
These findings present just a small snapshot of some of the data analysed from our 2023 Census, but despite the challenging start to the year, the UK Tech Industries have plenty of room for optimism. For opportunistic business, and job seekers alike, there are fantastic opportunities to hire great talent and put their skills to the test.
If you’d like to receive an exclusive copy of the 2023 Census, due to be published in June, then please fill in the contact form below.