How to handle rampant pay inflation for tech candidates
Not so long ago, tech professionals in finance were largely seen as support staff in the finance sector: employers weren’t so focused on pay negotiation when hiring, and candidates didn’t have much leverage around compensation. But now that technologists are in high demand and short supply, they are increasingly driven by money.
At a recent eFinancialCareers round table for senior in-house recruiters, one delegate said new joiners to his bank’s technology team are now receiving increments of 25% to 35% – more than double the pre-pandemic average.
With pay pressure for new joiners now so intense, how should recruiters approach pay negotiation, and balance the interests of hiring managers and candidates? The new eFinancialCareers webinar, How to Hire Technologists in Financial Services (which is now available on demand) pinpoints seven tips for negotiating pay in tech. The webinar also explores other innovative strategies for hiring tech talent in a candidate-led market – from understanding candidate motivations to speeding up hiring processes.