Cathcart Technology IT Salary Guide 2023 – Stay Ahead of the Curve

Our team at Cathcart Technology are delighted to present to you our comprehensive IT Salary Guide for 2023.

Since March 2020, the world has gone through tremendous technological transformation as a result of Covid 19 pandemic. Companies were forced to sharply pivot to a work from home policy, which forever changed the way we work and also the perception of how we work. Due to the pandemic restrictions, consumers no longer ventured outside to acquire products but, instead, went online. According to McKinsey Global Survey of Executives, their companies accelerated the digitization of their customers, supply-chain interactions, and of their internal operations by three to four years.

The biggest technology companies in the world couldn’t hire fast enough to keep up with the demand. Amazon and Meta almost doubled their workforce, followed closely by other major brands as the demand for talent became increasingly fierce. Thailand was no exception as we saw huge demand from current and new clients looking to increase the size of their teams.

Fast forward to March 2023, the technology world has found itself in a very different situation. The same major technology companies, which previously hired so aggressively, have now shed tens of thousands of jobs as we enter the post-pandemic era. The huge surge in growth and hiring was never going to be sustainable, so the time has come for a re-balancing of the workforce which will create a lot of pain in the short term.

Another major development in 2023 has been the emergence of Artificial Intelligence into the mainstream, as ChatGPT has sprung onto the scene. The World Forum estimates that 14 million jobs will be lost in the next 5 years with AI being one of the major contributing factors to this. However, the same report also mentioned that AI will potentially create up to 97 million new jobs. While it is still too early to predict the full impact that AI will have, I’m excited to see how it develops over the coming years and emphasises the need to adapt and upskill.

In Thailand, we have continued to see a robust market and many of our clients have continued to hire into 2023. There hasn’t been the same shockwaves in the technology recruitment sector as in other countries, and IT spending in Thailand is expected to grow around 4.2% which is only slightly lower than in 2022. Our salary guide this year aims to give you more of a comprehensive view of the technology market in Thailand and some insights into our activities over the past year.

We believe that Thailand has a very bright future if it can maintain the technological momentum of the last few years, and Cathcart Technology is excited to be part of that journey.

We also offer free consultations, so if you would like to discuss our salary guide personally or need help with your hiring, then please reach out to me or contact 02-038-5878 for assistance.