Tech, media and gaming industry compensation

Attraction and retention remain challenging for organizations worldwide

Organizations grapple with sourcing talent for major roles at every level

Average voluntary attrition rate among key markets worldwide. Source: WTW 2023 Global Compensation Survey Reports
Location	Average voluntary attrition rate
Brazil	7%
China	12%
United Arab Emirates	9%
United Kingdom	10%
United States	11%

Major roles employers plan to hire for in the next 12 months

Percentage of organizations recruiting for key roles in information technology, engineering and sales. Source: WTW 2023 Global Salary Budget Planning Report
Location	Information technology	Engineering	Sales
Brazil	63%	60%	55%
China	43%	74%	53%
United Arab Emirates	59%	68%	59%
United Kingdom	57%	67%	50%
United States	61%	70%	50%

Salary budget increases continued in 2023

Because salary impacts an organization's ability to attract and retain talent, this pattern is expected to continue in 2024, but employers will be cautious about allocating their salary budget.

Organizations also granted higher bonus payouts for 2023, and are expected to repeat it in 2024.

Employers (60% or more) in every industry worldwide have taken or are considering taking the following measures:

Compensation review of specific employee populations
Full compensation review for all employees
Targeted increases for specific employee populations
Hire people higher in relevant salary range

Top 3 functions at professional level (P3) with the highest pay across all industries

Top 3 functions at professional level (P3) ranked according to pay across all industries. Source: WTW 2023 Global Compensation Survey Reports
Rank	Brazil	China (Shanghai)	United Kingdom	United States	United Arab Emirates
1	Data Science and Business Intelligence	Legal	Strategic Planning/Corporate Development	Research	Technology/Systems consulting
2	IT Development	Technology Product Development	Technology Product Development	IT development	Business consulting
3	Sales, Marketing and Business Development	IT development	Financial Analysis and Tax	Data science and Business Intelligence	Technical Sales Support

A few skills will receive the highest pay premiums across regions

Skills that will demand the highest pay premiums across regions. Source: WTW 2023 Global Compensation Survey Reports
Region	Skills	Pay premium (median in percent of base salary)
Asia Pacific	AI/machine learning frameworks	15%
Europe, Middle East and Africa	AI/machine learning frameworks	20%
Latin America	Cryptography, distributed ledger development, smart contract programming	15%
North America	Cryptography, distributed ledger development, smart contract programming	15%

2023 has seen an increase in the number of unique organizations participating in WTW’s 2023 TMG surveys contributing to an 4% overall increase in data submissions.

Trends expected to shape 2024 rewards decisions

01

Despite recent high-profile layoffs, the demand for key talent continues to outpace supply in the tech industry. Therefore, organizations will need to look beyond pay and take a holistic view of total rewards to create employee experiences that attract and retain the right talent.
02

The dynamics of work are truly changing, and this will likely mandate greater flexibility, adaptation and innovation in Work and Rewards. In some cases, embracing flexible work, new talent sources and automation technologies are no longer optional but essential.
03

Given increasing legislation around pay transparency, organizations must prepare now to meet regulatory requirements. Objective job and pay structures, robust data and analytics, and manager education are likely to help your organization confidently deliver a pay narrative to internal and external stakeholders.