As the demand for cloud tech talent has grown, so too have the salaries that comes with that talent.
Recent survey by the world-leading cloud training firm, Revolent shows that the salaries earned by cloud tech professionals do however differ by country.
Of the 14 countries surveyed in the report, Switzerland topped the charts of countries offering the highest cloud tech salaries, with an average salary of £107,228 ($133,326), across all roles.
USA and Australia both made the top three, offering, on average, some of the world’s highest cloud tech salaries. Home to many top tech companies, the US offers almost $120,000 to professionals in the industry while Australia pays a little above one hundred thousand per annum.
Canada, the United Kingdom, Ireland, Singapore, Germany, and Japan are also among the highest-paying nations for tech cloud talent, each offer over $60,000 US as an average yearly salary.
On the other hand, countries like Italy, Netherlands, Spain, Belgium, and France pay the least to cloud tech professionals, they offer less than fifty thousand US dollars, as shown in the survey results.
For instance, the amount offered by Italy, the country with the lowest average salary offering, is four times less than that of Switzerland. And, compared to the salary offered by the Netherlands, job seekers who are hired by recruiters in Switzerland earn three times more.
Highest paying tech cloud positions
With questions centered upon on experience, knowledge, technology expertise, market trends, sales, and technical expertise, the survey also identified some of the highest-paying positions in the world. Going by the average salary, some of the highest paying cloud tech positions across multiple technologies, including AWS, Salesforce, and Microsoft include Functional Consultant, Technical Consultant, Salesforce/nCino Solution Architect Mulesoft Achitect, Project Manager, Programme Manager and among others.
In Switzerland for example, Account Manager/Account Executive, IT Director/CIO, and Programme Managers are top earners in the country’s tech cloud industry.
While roles like Solution Architect, Technical Architect, Project Manager and Mulesoft Achitect tend to attract the most salary in Australia’s tech cloud market.
Aside from Testers, most of the high paying job roles in the USA are like that of their counterparts in Switzerland and Australia. The US also pays industry professionals who occupy position such as Technical Consultant, Salesforce/nCino Solution Architect, and Program Manager the highest salaries.
Even in the countries with some of the lowest salary offerings, the trend on the job positions with the highest rewards are similar.
Data benefit for job seekers
With extensive experience in creating talent that can thrive within in-demand technology markets, Revolent’s President, Nabila Salem says through the help of the survey findings, tech cloud professionals “can see what others with a similar level of experience and skillset are currently earning, enabling you to better understand your market value.”
The question around ‘not knowing’ right salary has been answered by the survey report both for industry specifics and global market.
Following the available data, cloud tech professionals in employment, and those seeking new opportunities, now have a benchmark for evaluating their market worth. Meaning they can be better informed to re-negotiate their salaries to reflect global market value, or their rates.
Tips for salary negotiations
Cloud tech professionals who wish to re-negotiate their market value with their employers should considering the following, says Salem, President of Revolent:
Market value: Instead of approaching an employer with a pay raise request, it would be more effective to discuss what the local and global market is offering for similar positions.
Demand the precise amount: As gathered from the survey report, most salaries paid to cloud tech professionals have some extra figures on the main amount, for example, a Solution Architect in the United Kingdom earns £87,625; such figures should be presented to employers. By doing so, an employee is more likely to receive a final offer that is closer to the desired amount.
Pick the highest amount: It is expected that local market value and salary offering in other countries may differ, as seen in some countries surveyed in the report, it is, therefore advisable for employees to go with the highest in the range. After all, the chances are the employer is likely to price down to the lower amount.
Timing: While an employer deserves to earn the appropriate market value for their position, the timing of the negotiation is as essential as the employer’s expected response. Any employee who intends to renegotiate with the employer must be strategic in order to do so, so pick an appropriate time and make sure you’re doing it via the best channels, to set yourself up for success.
Benefit for recruiters
The study offers companies and hiring managers with the information necessary to benchmark their “team’s compensation.” According to Revolent’s President, this will enable businesses to create budgets for the upcoming fiscal year.
While paying above-average industry salaries is one of the most important retention strategies for many tech companies, the following can help a company retain some of its best employees:
One of the factors that can assist in retaining employees is job security. A company that distributes a portion of its shares to its employees or allows its staff to have a stake in the company has not only succeeded in providing job security but also in empowering its employees. A company with a functional structure; a promotion plan, and a framework for compensation increases it more likely to keep its people.
Focus on employee engagement and the general well-being of your team, instead of just focusing on hitting targets. To this end, modifying the company’s work structure to suit current realities can aid in accomplishing this objective. For instance, the COVID-19 pandemic has increased the number of individuals who are happy with a flexible or mixed work schedule. Beyond this, many companies are also starting to provide female employee with menstral leave, this could help you stand out in the hiring market.
Providing employees with professional skills and training development to assist them advance in their careers is a win-win for both the company’s productivity and talent retention. According to studies, employees are more likely to seek employment elsewhere if their current employer is unwilling to invest in their upskilling and reskilling.
Data collected from 2021/2022 Mason Frank’s Career and Hiring Guide. The salary data for each role in each country was broken into both junior and senior pay levels with both the minimum and maximum possible salary displayed. For each role, an average was calculated based on all the salary data present. A total average for each country was calculated using each average figure for each role. The total from each country was then converted into the 8 currencies (USD, CAD, GBP, EUR, AUD, CHF, SGD and JPY) with the conversion rate being correct as of the 18th of May 2022. Finally, the average salary for each country was then ranked from largest to smallest in USD, GBP, CAD and AUD.