New O'Reilly Report Reveals Tech Workers Gain Increased Salary and Skills Training Through Workplace Learning
O'Reilly, the premier source for insight-driven learning on technology and business, today announced the results of its 2022 Cloud Salary Survey. The report findings demonstrate that tech workers make more money in hybrid or remote work scenarios and gain increased salary and skills training through workplace learning. The survey revealed that cloud professionals are paid an average yearly salary of $182,000. Report findings also show the impact of the great reshuffle within the tech sector, with 20% reporting they've already changed employers over the last year, and 25% of respondents planning to find new employment with better compensation, raising a question of whether the great reshuffle will continue.
Remote and hybrid work arrangements are widespread for the cloud professionals surveyed: almost two-thirds (63%) of respondents work completely remote full-time, and 31% follow a hybrid schedule, reporting to the office one to four days a week. The survey also discovered that hybrid work was associated with higher overall salaries-the average reported salary for hybrid staff was $188,000, while full-time remote workers made slightly less ($184,000). Full-time in-office workers reported the lowest average salary at $131,000. With the time and cost savings that come from eliminating lengthy commutes (for employees) and downsizing office spaces (for employers), remote and hybrid work trends are likely here to stay.
The report also revealed the compensation benefits of workplace learning and development. Nearly half (48%) of respondents participated in technical training or certification programs in the last year, with 18% of respondents obtaining one or more certifications. Hours spent training were found to have a direct link to increased compensation. However, money isn't the only factor driving training; respondents cited learning new technologies (42%), improving existing skills (40%), and working on more interesting projects (21%) as the most popular reasons for participating in leaning and development.
"Cloud professionals are currently the most sought-after tech talent and therefore have the ability to choose from an array of employment options that best fit their lifestyle. During the pandemic, we witnessed millions of workers resign from companies in an effort to reconfigure their careers and take deliberate steps toward new job opportunities with higher wages and better alignment between their work and life goals," said Laura Baldwin, president of O'Reilly. "With these workers in such demand, we anticipate the great tech exodus to continue unless employers step up with competitive pay, substantial benefits, remote work flexibility, and on-the-job learning and development."
The survey revealed that yearly salary increases were tied to working style, with hybrid workers receiving higher salary increases than those who work completely remote. Overall, respondents didn't report particularly large salary increases; the average salary increase over the past year was roughly $8,000. The largest group of respondents had salary increases under $5,000 (27%), followed by those who received salary increases between $5,000 and $10,000 (24%). And 19% of respondents didn't have any change in salary during the last year.
Additional findings from the 2022 Cloud Salary Survey report include:
"Organizations of all sizes are utilizing cloud tools and services, and in turn, need experienced staff with the appropriate skill sets. Our survey found that the largest salaries and pay increases went to those who were certified for one of the big three cloud platforms: Google Cloud, AWS, and Microsoft Azure," said Mike Loukides, report author and vice president of content at O'Reilly. "The current job market is just as hot as the housing market. The demand for skilled cloud professionals has exceeded the supply. It's safe to say that if you're proficient in this area, your job opportunities are endless."
The 2022 Cloud Salary Survey polled 778 respondents based on location, gender, age, education level, job title, cloud certifications, and the tools they use daily. The full report and survey results are available here: https://get.oreilly.com/ind_2022-cloud-salary-survey.html .
For over 40 years, O'Reilly has provided technology and business training, knowledge, and insight to help companies succeed. Our unique network of experts and innovators share their knowledge and expertise through the company's SaaS-based training and learning platform. O'Reilly delivers highly topical and comprehensive technology and business learning solutions to millions of users across enterprise, consumer, and university channels. For more information, visit www.oreilly.com.