Tech workers saw their paychecks swell last year as their employers became increasingly desperate to hire and retain them, but the gains were unevenly distributed.
Take Snap and Netflix. The median salary at the social media firm increased 28% last year, an analysis of company disclosures shows. But at the streaming giant, median pay actually fell. These diverging fortunes in part track the relative performance of the two companies, but also likely reflect quirks in Netflix’s pay structure.
Among the 23 public tech firms included in The Information’s analysis, 11 saw the median employee compensation fall or increase by less than 5%. Meanwhile, the average salary for tech professionals overall increased 7% to $104,566 in 2021, according to tech jobs site Dice.