Job Satisfaction and Outlook
Technology professionals have a lot to like about their jobs compared to other professions — more remote work opportunities, access to innovative projects and higher pay, to name a few. However, they can and do still experience dissatisfaction over aspects of their jobs.
For technology professionals everywhere, it’s not just about the money (even if the money is pretty good, and will always be an important driver of satisfaction). Ever since the pandemic began, tech professionals have shown increased interest in benefits that allow them to achieve a better work-life balance, including remote or hybrid work. As the following data shows, even pessimism about the broader economy hasn’t stopped tech professionals from exploring their options, especially if a potential employer is offering better money and more flexibility supporting the way tech professionals want to work.
Changing Employers
More than half of technology professionals (52%) responded they are likely to change employers in the next year — that's up from the 44% we reported last year. Whether it’s that they are less satisfied with their current roles in general, specific aspects have become deal-breakers or they’re just interested in taking advantage of the wealth of opportunities available to them, the number of tech professionals likely to make a move is a notable increase over 2021.
With tech unemployment at notably low levels, and employers everywhere hungry for tech talent, there’s more reason than ever for tech professionals to explore whether another employer can make them a better offer. Tech professionals can (and should) weigh whether a potential employer can offer them a setup and benefits that align with their goals, whether that’s a larger salary, a more flexible schedule, or better work-life balance.
Tech professionals who reported they are likely to change employers in the next year:
Q3 2022 Tech Sentiment Survey
Q4 2021 Salary Survey
More than half of technology professionals (52%) responded they are likely to change employers in the next year — that's up from the 44% we reported last year. Whether it’s that they are less satisfied with their current roles in general, specific aspects have become deal-breakers or they’re just interested in taking advantage of the wealth of opportunities available to them, the number of tech professionals likely to make a move is a notable increase over 2021.
With tech unemployment at notably low levels, and employers everywhere hungry for tech talent, there’s more reason than ever for tech professionals to explore whether another employer can make them a better offer. Tech professionals can (and should) weigh whether a potential employer can offer them a setup and benefits that align with their goals, whether that’s a larger salary, a more flexible schedule, or better work-life balance.
Tech professionals who reported they are likely to change employers in the next year:
Q3 2022 Tech Sentiment Survey
Q4 2021 Salary Survey
Work-Life Balance
The majority of technology professionals reported that their work-life balance is better than it was during the pandemic, with just 16% of respondents indicating their work-life balance is “worse” (compared to 24% in 2021). Many of the open-ended responses to this question in our survey pointed to a change in employer that supported this renewed sense of balance.
Thinking about your work-life balance now, would you say your work-life balance is better, the same or worse than it was before the pandemic?
Thinking about your work-life balance now, would you say your work-life balance is better, the same or worse than it was before the pandemic?
Years ago, the biggest technology companies (i.e., the Googles of the world) offered amenities designed to keep their bright tech professionals as happy as possible: in-office cafeterias and gyms, liberal leave policies, laundry services, and more. Most companies don’t have the resources to offer those kinds of options, but it’s becoming clear that many tech professionals care more about work flexibility and work-life balance than ping-pong tables and beer taps in the breakroom. It remains true that organizations of all types need to take a hard look at the benefits that tech professionals truly value, including as much working flexibility as they can offer, if they want to keep their in-demand tech professionals happy.
Beyond something like “quiet quitting,” the most likely outcome is that tech professionals will look for other jobs (and you don’t need to look any further than the data in this report to validate that theory). Thus, many managers (with approval from their leaders) are willing to negotiate with tech professionals in order to retain them, and that may be part of what’s driving better work-life balance for tech professionals.
Merit Increases
One likely contributing factor to growing openness to changing employers is the gap between actual merit increases and what technology professionals expected to receive. Those surveyed in our study received an average merit increase of 4.8% (with more than half receiving 3% or less). However, and despite the average tech salary breaking six figures this year, they expected to receive an average merit increase of 5.2%.
Actual Merit Increase vs. Expected Merit Increase Reported by Tech Professionals
Actual Merit Increase vs. Expected Merit Increase Reported by Tech Professionals
Companies everywhere need technological expertise, and that’s often leading to high salaries (as well as bonuses and stock options). However, 59% of tech professionals reported receiving a merit increase of 3% or less, markedly lower than many expected. With notably high inflation (8% this year, a 40-year high) chewing up take-home pay, tech professionals may view a tiny merit increase as something of a pay cut.
Many companies are also claiming the current economic uncertainty prevents them from offering generous salaries and increases. Tech professionals who find themselves at such a company always have the option of leaving; but they could also use this as an opportunity to ask for perks such as a flexible schedule, educational opportunities, and more.
Outlook on Industry and Tech Profession
More than one-third of technology professionals indicated they feel “very pessimistic” about the economy. This is a significant increase from the 12% of tech professionals who responded this way in last year’s report. While our survey was conducted in the summer of 2022 when gas prices had soared and reports of potential recession were high, there is still clearly uncertainty about near-term impacts and future of the U.S. economy.
Thinking about next year, what is your overall confidence level surrounding economic conditions?
Thinking about next year, what is your overall confidence level surrounding economic conditions?
When asked about their outlook of the tech profession over the next five years, most tech professionals agree that demand for tech talent shows little sign of slowing, with 84% of respondents indicating they feel the tech profession will grow significantly or slightly from where it is now.
Thinking specifically about the tech profession and its outlook over the next five years, please select which statement you believe is true.
I believe the tech profession in the next five years will…
Widespread (and increasing) pessimism about the economy hasn’t dampened tech professionals’ interest in potentially jumping jobs. That suggests tech professionals are generally confident in their skills and ability to land a new position.
It’s also cause for optimism: even if prices have skyrocketed and certain companies are announcing layoffs and hiring slowdowns, tech professionals recognize they have in-demand skills that employers everywhere need... and that demand will likely continue for quite some time. According to CompTIA, tech-industry employment increased by 175,700 jobs between January and September 2022, 46% ahead of last year. Tech hiring has also increased across industries, backing tech professionals’ sentiments with hard numbers.
Widespread (and increasing) pessimism about the economy hasn’t dampened tech professionals’ interest in potentially jumping jobs. That suggests technologists are generally confident in their skills and ability to land a new position.
It’s also cause for optimism: even if prices have skyrocketed and certain companies are announcing layoffs and hiring slowdowns, tech professionals recognize they have in-demand skills that employers everywhere need... and that demand will likely continue for quite some time. According to CompTIA, tech-industry employment increased by 175,700 jobs between January and September 2022, 46% ahead of last year. Tech hiring has also increased across industries, backing tech professionals’ sentiments with hard numbers.