Remote Work: 6 Predictions About Its True Impact
Here's how remote work impacted employment all over the world, what it means for the future, and opportunities that have emerged with it.
"What free trade did to blue collar jobs, Remote work will do to white collar jobs."
- @naval tweeted last year.
So these are 6 predictions about the true impact of remote work globally.
1. High Paying Jobs Become Available Globally
- Companies have long struggled to hire tech talent locally
- After the pandemic, many are going remote
- They start hiring candidates who have the right skills for the job
- Regardless of where in the world they are physically located
2. Tech Workers Flee Expensive Cities
- Location is no longer a key factor to get high paying jobs
- Many tech workers living in expensive cities decide it isn't worth the cost
- They move out to cheaper and more liveable places
- Many emigrants return to their home country
3. Previously Buzzing Cities Become Less Buzzing
- Cities like SF, NY, and London are facing an exodus
- Offices are emptier and some surrounding businesses are less viable than before
- These cities will gradually convert from commuter-optimised to liveability-optimised
4. A Growing “Digital Diaspora” in Third World Countries
- This is a life-changing opportunity for people in developing countries
- People who used to earn $20k, now earn $100k remotely
- Their career, salary and daily interactions are international. They are digital emigrants
5. Demand for Digital Talent Is Still Larger Than Supply
- The skills gap has been widening over the last decade
- Even with this massive shift to remote work, there's still more openings for tech workers than there are people with such skills in the world
6. Salaries Will Adjust Towards a Global Mean
- Top tier salaries (above $300k) might become rarer in remote work
- Lower tier salaries (below $50k) will massively increase
- Many people with decent experience in high demand skills could see their salary double or triple
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