Tech salaries in Israel fell in 2020

High-tech office / Photo: Shutterstock illustration , Shutterstock.com
High-tech office / Photo: Shutterstock illustration , Shutterstock.com

Ethosia found that salaries in high-tech fell for the first time last years since 2009.

After climbing consistently and steadily between 2009 and 2019, tech salaries fell 7% on average in 2020, the Ethosia employment agency has found. According to Ethosia, the average salary at a technology company in Israel in 2020 was NIS 26,260, down from NIS 28,240 in 2019. The average salary has fallen to its level in 2016-2017.

Ethosia's data is based on figures from its customers who have 140,000 employees and the 12,000 people it has placed in jobs over the past year. Ethosia's figures show similar findings to the Central Bureau of Statistics. However, unlike the Central Bureau of Statistics, Ethosia distinguishes between staff in technology positions with high-tech companies, and does not include staff working in administration, finance, maintenance etc.

Ethosia notes that there was an improvement in tech salaries in Israel in the final two months of the year. In October 2020 the average tech salary was NIS 22,700, 5% down from NIS 24,055 in October 2019. In November 2020 the average salary was NIS 26,750 and in December 2020 the average salary was NIS 27,762 - approaching the average salary of NIS 28,240 in 2019.

Another indicator of a slight slowdown in the tech sector was that while 11% of tech employees voluntarily left their jobs in 2019, usually for a higher paid job, this figure fell to 6% in 2020. This figure has been steadily falling with 16% of tech employees voluntarily leaving their jobs in 2016.

A further sign of slowdown in Israel's tech sector, Ethosia found, was that the number of open tech positions was cut in half in 2020 to 6,400 from 12,500 in 2019.

Published by Globes, Israel business news - en.globes.co.il - on January 6, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021 .

High-tech office / Photo: Shutterstock illustration , Shutterstock.com
High-tech office / Photo: Shutterstock illustration , Shutterstock.com
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018