High-tech salaries continue to rise, break new ground
High-tech salaries continue to rise, break new ground
According to the Central Bureau of Statistics, the average high tech salary rose to a record NIS 35,870 ($9,710), in comparison to the national average salary which decreased by 4.2% to NIS 13,493 ($3,652)
The average salary in the high-tech sector continues to soar according to data from the Central Bureau of Statistics, reaching a new record in March for the second month in a row at NIS 35,870 ($9,710), a 5.6% increase from NIS 33,964 ($9,194) in February. This marks a 19.1% increase compared to NIS 30,126 ($8,155) in January. Conversely, the average salary in the general economy experienced a predicted correction in April, dropping by 4.2% to NIS 13,493 ($3,652), after reaching an all-time high of NIS 14,709 ($3,981) in March.
These findings come from data collected on the national average salary and number of jobs for March, published by the CBS, along with preliminary estimates for April. Preliminary estimates are published only for the general economy. However, since the average salary in high-tech significantly influences the average salaries of the larger economy, it can be assumed that when the data for April is released, there will be a significant decline in high-tech as well.
Nevertheless, these figures raise questions about the high-tech sector as they are not accompanied by a corresponding surge in demand for workers, but rather a significant drop in the number of available jobs.
According to CBS data, the average salary for programmers stands at NIS 38,308 ($10,370), an 8.9% increase compared to February, marking a new high after surpassing the NIS 35,000 ($9,475) mark for the first time in February. Programmers make up 54% of the 399,000 employees in high-tech, at roughly 214,000 workers. The average salary for R&D roles in March was NIS 36,578 ($9,902). In February, the average salary for R&D roles was NIS 44,670 ($12,092). It is unclear what the precise causes are behind these significant fluctuations.
