According to data from the world’s leading remote employee hiring platform Deel, at the start of the year, the average monthly salary for IT specialists from Latvia employed by foreign companies was USD 3,618 or approximately EUR 3293, whereas Lithuanians received USD 3,891 and Estonians 10% more, or USD 4,038.
The startup Deel has concluded that Baltic IT specialists are in demand in various markets. Companies in the USA, United Kingdom and Malta are among the top employers of Baltic IT specialists. Along with businesses in the aforementioned countries, IT specialists from Latvia are also employed by companies in Ireland and Germany, while Lithuanians are employed in Denmark and the Netherlands, and Estonians in Canada and Germany.
Similarly Baltic IT companies have actively taken advantage of remote employment capabilities, hiring software developers from foreign countries. Latvian companies most commonly employ IT specialists in Spain, the United Arab Emirates, Kazakhstan, Bangladesh and until recently Russia. Meanwhile, Estonian IT companies have hired specialists in Turkey, the United Kingdom, India, Spain and the Philippines, while Lithuanian companies most frequently employ foreign professionals in Brazil, Poland, Spain, Italy and Latvia.
“Remote employee hiring is becoming increasingly popular all over the world, because there is intense competition and demand for professionals, and companies frequently encounter difficulties finding qualified employees in their domestic markets. This is confirmed by our data – compared with the previous year, the demand for employees from foreign countries has grown by 200%, and the greatest demand has been for IT specialists,” explains Liina Laas, Head of Expansion CEE at Deel.
According to the Deel Global Hiring Report for 2021, the most sought after IT specialists globally are software developers, account executives, quality assurance engineers, product designers and consultants. According to Deel data, the TOP countries where companies employ IT specialists remotely, and where demand for this continues to grow are Israel, Argentina and the Dominican Republic. In turn, in the past year the countries where the salaries of IT specialists have grown fastest are Mexico (57%), Canada (38%), Pakistan (27%), and Argentina (21%).
Likewise Deel’s observations indicate that month after month, there is a growing desire among employees to receive their salaries in cryptocurrencies. Specialists in Argentina Brazil and Nigeria are increasingly receiving part of their pay in cryptocurrencies.
The conclusions of Deel’s Global Hiring Report are based on data from over 100,000 employment contracts in over 150 countries, where Deel offers its remote employment services. This data has been collated for the period from June to December 2021.
Deel is a leading global compliance and payroll solution that helps businesses hire anyone, anywhere. Deel’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.
In order to make remote employee hiring easier for its clients all over the world and to help them understand salary levels and employer cost calculations, Deel has created several new tools including a salary overview for various positions and in different countries, which helps clients to determine their salary offer so that it corresponds to the market situation. The employer’s cost calculator provides an overview of the total costs of employing employees in different countries. Similarly, a great benefit for employees is the tool that makes it possible to compare employment data in 87 countries, including information about the number of vacation days, the minimum wage, benefits for employees stipulated in legislation, etc.
Using a tech-enabled self-serve process, Deel’s customers can hire independent contractors and full-time employees in over 150 countries, compliantly and in minutes. With more than 250 legal, accounting, mobility, and tax experts as partners, Deel enables any business to create, sign and send compliant localized contracts from a library of templates and pay teams in more than 120 currencies with just a click.
Founded in 2019 by Alex Bouaziz and Shuo Wang, Deel is a fully distributed company with employees based worldwide. Learn more about Deel here.