Fri Sep-29-2023: Tech Salary Declines and the Impact on Providers, Q3 2023 Diversity Report: Big Ideas and Insights

In this episode of the Business of Tech podcast, Dave Sobel discusses the pressures faced by IT professionals today. With the expansion of corporate networks and the rise of hybrid work and cloud adoption, IT and security teams are taking on more responsibilities. A study commissioned by CloudFlare reveals that over half of IT security professionals are now responsible for the security of both on-site and remote workers, compared to five years ago. Additionally, almost half of them have taken on the task of managing and securing applications in public cloud platforms or data in SaaS environments, which was not part of their role in the past. However, these new tasks have made it increasingly difficult for IT professionals to manage, with 30% describing it as significantly more complex today than in 2020. In addition to these challenges, the tech industry has seen a decline in salaries, with a 3% drop in local roles and the lowest salaries in the past five years. Junior talent with less than four years of experience has been hit the hardest, with a nearly 5% decrease in salary. Despite this, the tech industry still offers an average salary of $158,000, almost double that of a U.S. knowledge worker. The growth in IT has also led to increased burnout among professionals, with excessive workloads, long hours, lack of recognition, and lack of challenges being major contributors. Incidents and glitches demand their attention, causing frustration for both IT teams and end users.Three things to know today00:00 Overworked and Underpaid: What Tech Salary Declines Mean for Providers03:51 Return-to-Office or Not: The Struggle for Management to Make the Case07:26 The Q3 2023 Diversity Report, and some big ideasAdvertiser: https://supportadventure.com/MSPRadio/Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/Support the show on Patreon: https://patreon.com/mspradio/Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.comFollow us on:LinkedIn: https://www.linkedin.com/company/28908079/YouTube: https://youtube.com/mspradio/Facebook: https://www.facebook.com/mspradionews/Instagram: https://www.instagram.com/mspradio/TikTok: https://www.tiktok.com/@businessoftech  💼 All Our SponsorsSupport the vendors who support the show:👉 https://businessof.tech/sponsors/ 🚀 Join Business of Tech PlusGet exclusive access to investigative reports, vendor analysis, leadership briefings, and more.👉 https://businessof.tech/plus 🎧 Subscribe to the Business of TechWant the show on your favorite podcast app or prefer the written versions of each story?📲 https://www.businessof.tech/subscribe 📰 Story Links & SourcesLooking for the links from today’s stories?Every episode script — with full source links — is posted at:🌐 https://www.businessof.tech 🎙 Want to Be a Guest?Pitch your story or appear on Business of Tech: Daily 10-Minute IT Services Insights:💬 https://www.podmatch.com/hostdetailpreview/businessoftech 🔗 Follow Business of Tech LinkedIn: https://www.linkedin.com/company/28908079YouTube: https://youtube.com/mspradioBluesky: https://bsky.app/profile/businessof.techInstagram: https://www.instagram.com/mspradioTikTok: https://www.tiktok.com/@businessoftechFacebook: https://www.facebook.com/mspradionews Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.