Skip to main content
main content, press tab to continue
Article | Beyond Data

Tech, media and gaming industry compensation

2024 pay trends to watch

January 5, 2024

Explore insights into what organizations in the tech, media and gaming (TMG) industry are planning for this year.
Compensation Strategy & Design
Beyond Data

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

  1. 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.

  2. 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.

  3. 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.

Contact us