Salaries for Remote Work Have Started to Decline, New Study Reveals

There was a time when it really seemed like people would be able to earn the highest salaries from the comfort of their very own home. In spite of the fact that this is the case, data released by the World Economic Forum revealed that remote job salaries are declining. Back in the third quarter of 2022, 37% of jobs paying more than $200,000 per year were remote, but more recent data shows that this proportion has plummeted to just 12%. This was data from the fourth quarter of 2023, and it reveals that remote jobs are paying less than might have been the case otherwise.

With all of that having been said and now out of the way, it is important to note that this trend holds for jobs in the tech sector as well as non-tech related jobs. Hybrid jobs are also seeing the same trend, with 16% of high paying jobs offering hybrid schedules in the first quarter of 2023, which fell to just 3% by the last quarter of the year.

However, it bears mentioning that the World Economic Forum doesn’t think that remote jobs are going anywhere at this current point in time. Jobs might continue to be remote because of the fact that this is the sort of thing that could potentially end up fulfilling worker demand for better work life balance with all things having been considered and taken into account.

In April of 2022, 20% of all job listings on LinkedIn were remote, but this declined to just 8% by December of 2023. It will be interesting to see where things go from here on out, since companies clearly want employees to return to the office, but employees might want to have the freedom that comes with working from home.

One thing that’s for certain is that the work from home trend didn’t become the norm the way so many people expected it to. Quite on the contrary, it started to fade away pretty much as soon as people could start to return to working from the office, and this trend might continue in the future.

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by Zia Muhammad via Digital Information World