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HR Tech Group Releases Annual BC Tech Salary Survey
Tuesday, October 21, 2014Company Profile | Follow Company
Vancouver, BC, October 21, 2014--(T-Net)--Results of HR Tech Group's annual BC Tech Salary Survey were released today, indicating continued growth in salaries for the industry.
Intermediate to senior software developers and professionals received a 4% increase in salary compared with the same comparative group in 2013. Wages were up 3% for junior professionals over last year.
A junior software developer with typically 2-3 years experience is paid $71,500/year, and those intermediate professionals with 3-5 years experience earn on average $85,700/year. Entry level professionals start at an average of $57,000/year.
The survey has been the leading report of how tech salaries have grown for more than 20 years. It includes data on more than 11,000 tech workers from over 85 BC tech companies. This year's participants included almost 20 new companies, indicating the continued growth of companies that are interested in knowing what competitive salary data looks like in Vancouver.
“Our tech industry continues to grow, with exciting work being done here. Employee attraction and retention continue to be top of mind for HR professionals working at BC tech companies”, says Allison Rutherford, Executive Director, HR Tech Group.
“We continue to see strong performance from the BC Tech sector and expect healthy salary increases for most tech positions”, says Vincent Chow, Partner, Logan HR, a consulting firm with many clients in the BC Tech sector. “The expansion of several high profile high tech companies in Vancouver certainly puts a lot of pressure on upcoming salary increases. Also, companies will want to pay extra attention to hot jobs, for example, any jobs related to Big Data or Analytics”.
Looking ahead, 73% of respondents have determined that they will be providing salary increases in 2015, and are budgeting an overall increase of 3% for lower mainland employees, with exact increases based on position. The remaining 27% of companies reported that they are still contemplating their 2015 salary budgets.
Participants in this year's salary survey included companies from all sizes and tech sectors, including HootSuite, A Thinking Ape, Electronic Arts, Fortinet and MDA Corporation. The salary survey can be sorted based on a company's revenue, and number of employees.
For a complete list of participating companies in the salary survey, click here.
Generally, across all levels of a tech organization, more bonuses were paid out this year compared with 2013 (92% in 2014 compared with 87% in 2013). “This could speak to the fact that employees and companies have been hitting their targets”, says Rutherford. “Typically bonuses are paid based on both company and individual performance goals.”
Executives overall received an average bonus of $57,100, with the percentage of those executives who did receive bonuses increasing to 91% this year, compared with only 81% of executives who received last year. Average base pay for a CEO in a tech company is $260,000/year, however this varies dramatically based on many factors such as size of business.
Survey scope
Data is analyzed by number of employees, revenue and sector. Half of the companies represented have up to 100 employees, 28% have between 100 and 250 employees, and the largest companies with more than 250 employees make up 23% of the sample. A quarter of the companies had revenue of more than $50M, with 37% having revenue between $15M and $50M and 37% having less than $15M in revenue. More than a third (44%) of responding companies work in the IT (software) sector, with the remainder companies representing digital media, clean tech, and communications sectors.
About the HR Tech Group
HR Tech Group is a professional forum for human resources professionals employed in the BC technology industry. The annual High Tech Salary Survey, conducted by the HR Tech Group in partnership with Towers Watson, is the de facto tech salary survey for HR professionals in BC. It represents data from 85 mid to large tech BC companies and is available to non-member organizations and individuals to purchase. For more information visit www.hrtechgroup.com
Media Contact
Allison Rutherford
Executive Director
HR Tech Group
T: (604)874-2653
arutherford@hrtechgroup.com
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