Tuesday, November 5, 2024

Want a six-figure salary? It’s time to say goodbye to remote work era

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By James Reinl, Social Affairs Correspondent, For Dailymail.Com

16:17 29 May 2024, updated 16:17 29 May 2024



TikTok influencers would suggest that it’s easy to get a remote job with a six-figure salary without so much as an interview.

Research from the high-earner’s career website Ladders, however, shows that it probably is not that easy.

The days of cushy, work-from-home living are coming to an end, the group says.

The number of postings for remote jobs earning $250,000 or more annually has fallen by 60 percent this past year, researchers say.

At the same time, the number of well-paid hybrid posts has dropped by a staggering 95 percent.

Career advisors on TikTok say high-paying remote jobs are plentiful and can be had without interviews
Postings for $250K+ remote jobs have fallen by 60 percent this past year, researchers say

Currently, just 4 percent of these job postings are available as fully remote, and fewer than 1 percent can be hybrid, the study says.

James Terry, from the recruitment firm Indeed Flex, says firms may increasingly offer promotions to staff who show up to the office.

‘Do people who work fully remote have the same, truly the same type of opportunities for career advancement as those that work in the office?’ Terry told NewsNation.

Ladders’ research comes as ever more companies ask staff to return to their offices, and the pandemic-era work-from-home lifestyle recedes.

Citigroup, HSBC, and Barclays have in recent weeks ordered more staffers to report to company offices five days a week — a change brought about in part from Wall Street regulatory changes.

Barclays will require thousands of investment bank workers globally to spend five days a week in the office or traveling to see clients, starting June 1, it said in a memo.

Office work ‘drives innovation, collaboration and a stronger culture,’ wrote bank executives Cathal Deasy and Taylor Wright.

Nine-in-ten companies expect to have staff working full five-day weeks in the office by the end of 2024, according to a survey by Resume Builder.

Several major corporations including Boeing, UPS, and JPMorgan Chase have already made it mandatory for workers to attend the office five days a week.

The number of well-paid hybrid posts has dropped by a staggering 95 percent, nudging workers back to the office
It’s becoming much harder to earn a six-figure salary and keep up a remote or hybrid lifestyle
US firms are paying a premium for employees who will work in the office full-time, research by ZipRecruiter found in March

Those who returned to their offices can expect to see their wages grow faster than those who stay at home or work hybrid.

The average salary advertised for in-office workers rose 33 percent to $82,037 compared to a year previously, research by ZipRecruiter found in March.

By comparison, the average wage of a ‘hybrid’ employee is just $59,992 — a difference of $22,000.

Higher-paying jobs require more commitment from their employees, including showing up to the office daily.

Companies have found it is better for their bottom line to have staff in the office versus working from home.

Still, the remote or hybrid lifestyle can be a boon for parents, those living in remote areas, and others.

Working from home has emerged as a prominent culture war since lockdown forced millions of employees to shift their office set-ups overnight.

Wall Street stalwart Jamie Dimon has been one of the biggest critics of the phenomenon.

Last year, he told The Economist he did not see how managers could work from home, adding: ‘I don’t know how you can be a leader and not be completely accessible to your people.’

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