Here’s what the research shows about the state of tech and IT job demand, salaries, and benefits in 2023. (Spoiler: it’s looking good.)
Did you know there will be an expected 3 MILLION new tech jobs in the UK by 2025? For those considering transitioning into an IT career after military service (or starting a tech career from virtually any walk of life), now’s the time.
Recent studies from Microsoft and Totaljobs are reporting new facts and stats about the state of the UK job market, and one trend is clear: information technology jobs are leading the way. They require the most in-demand skills, they provide the most desirable benefits like flexibility and remote work options, and they offer competitive pay in comparison to jobs in other industries.
Digital skills are proving incredibly valuable for roles outside of the IT sector as well. Read on to learn why, and why tech jobs have become more appealing than ever for individuals, organisations and the UK as a whole.
Microsoft’s ‘Unlocking the UK’s potential with digital skills’ uses the term “digital transformation” to describe how the lines between tech jobs and other jobs have become blurred. According to Microsoft, 82% of new UK jobs require some level of digital skills (in fields like management, marketing and sales for example).
What’s more, it reports that 69% of business leaders claim their businesses suffer from a digital skills gap, with employees possessing fewer advanced digital skills than their businesses need. 60% of employers say they expect their reliance on advanced digital skills to continue to grow, according to the study.
They are probably right. Emerging AI and rapidly advancing tech are changing the labour force at nearly every level, so it’s wise to adapt our skill sets to suit these new demands. If you’re a tech curious veteran, reservist, service leaver, or family member in the Forces community, there are opportunities available for you to upskill in tech, IT, and digital careers for free. Explore TechVets to learn which resources might be best for you, or reach out to us here to get started.
As reported last year by the Forces Employment Charity, a comprehensive study of 2022 salaries in the UK highlighted IT as one of the highest paying industries. Salaries in the tech sector have continued to rise in line with the average wage growth across the market.
A Totaljobs market review shows IT professionals enjoy an average salary of £47,837 in 2023, with 78% reporting that they are happy with their pay. That places the tech sector at the top of Totaljobs’ list for salary satisfaction overall, in stark contrast to the many British industries experiencing low salary satisfaction and sector-wide calls for higher wages in these tough economic times.
When it comes to workers, flexible hours, extra leave, and bonuses are the most attractive benefits. Because of the high demand for skilled workers, well-prepared interview candidates are well positioned for great negotiation power when it comes to asking for benefits alongside their competitive wages.
“With money front of mind for most, financial benefits have come to the fore as the main type of reward employers offer,” the Totaljobs Market Overview reads. “Home working allowances and hybrid working have also shot up in popularity following Covid-19.”
To workers in 2023, Totaljobs reported that flexible hours are among their most valued tech job benefits. Other favourite perks include full-time remote working, bonuses, and pension contributions/holiday allowance ABOVE what’s legally required for UK employers to provide.
Postings on Totaljobs for roles in the IT industry in 2023 often mentioned financial benefits in the form of pensions, performance bonuses, and referral schemes. Some also included general wellbeing perks like cycle-to-work schemes, gym memberships, hybrid or work-from-home options for healthy work/life balance, and mental health support.
Some Totaljobs job postings in the tech sector offered resources for learning and training along with career development and progression opportunities. Many also offered to provide employees with access to new technology.
To start learning and training today and claim a competitive tech career for yourself, you can train with TechVets support. We’ve got training partnerships with companies at the top of their fields, employment support for ex-Forces IT job seekers, and an active online community of peers on their own journeys to tech career success. Contact us to begin, or keep reading at the link below for more insights on walking this promising career path.READ NEXT: Creating Your Own Luck & Preparing Early For A Cyber Career