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Tag: Salary and benefits

  • Majority of women have never asked for a raise. Here’s how to negotiate for a higher salary

    Majority of women have never asked for a raise. Here’s how to negotiate for a higher salary

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    Asking for a pay raise is no easy feat, particularly for women.

    More than half of women around the world have never asked for a raise before, according to a 2024 study by job listings site Indeed. Of the 43% who asked, three in four received a pay increase.

    Additionally, 61% of women globally believe “they need to work harder for recognition than their male counterparts,” according to the survey, which polled more than 14,500 women across 11 countries.

    According to research from Indeed, here’s the percentage of women who have asked for a raise in each country surveyed:

    One Asian country stands out from the pack: India. Women in India were the most confident, with 65% of the respondents saying they have sought out a pay raise in the past.

    “Female respondents in India were consistently more optimistic than their global counterparts,” Nishita Lalvani, marketing director for India and Southeast Asia at Indeed, told CNBC Make It. Indian women also reported having more satisfaction when it comes to steps their employers were taking to close the gender wage gap.

    However, women in Japan and Singapore were the least confident when it came to asking for a salary increment, the survey showed. Only 13% of women in Japan and 32% in Singapore said they’ve asked for a raise before.

    Globally, 24% of the women surveyed said they lacked opportunities to ask, while 28% said they were afraid of negative consequences. Additionally, 28% of women said they did not have the confidence to bring up the conversation.

    “Women generally find it more of a challenge to self-advocate for a promotion and/or pay raise,” Aileen Tan, chief human resources officer with AIA Singapore said.

    Having the drive and ambition are crucial if you want to build a successful and fulfilling career. This must be coupled with the ability to deliver and execute on plans.

    Alieen Tan

    Chief human resources officer, AIA Singapore

    “I learnt early in my career that ‘nothing ventured, nothing gained,’” she told CNBC Make It. “It is equally important to be willing to raise your hands and step out of your comfort zone because all opportunities will come with its own set of risks.”

    Here are six tips on how to best navigate a salary negotiation, according to HR experts.

    Do your research

    Prior to the conversation, it is important to find data on salary benchmarks for your role online and discuss with peers so you can be best informed before entering the meeting, said Pooja Chhabria, career expert and Asia-Pacific head of editorial at LinkedIn.

    It’s imperative to have “clarity of thought” about what you think your compensation should be prior to the discussion, she told CNBC Make It.

    Be confident

    Although having the salary conversation can be daunting, ultimately, being well prepared will help you find confidence during the conversation. Practicing with a friend or a mentor beforehand can also help you identify ways to perfect your delivery.

    “I always believe that it takes a lot of effort to look effortless. So that confidence will always come from having that clarity of thought having done that research,” she adds.

    It is also important to understand what your manager and company cares about, and to keep that in mind throughout your conversation. After all, the point of a negotiation is to reach a “mutually beneficial outcome.”

    Prepare your pitch

    Preparing your pitch should begin before the conversation is set to take place. It is important to include specific achievements, and be prepared to address any objections from your manager.

    “Be very clear about what is it that you’re going to tell your manager, starting with showcasing your value [and] giving examples of industry benchmarks,” Chhabria suggests. It’s also important to “address concerns where there could be constraints around budgets,” she said.

    Additionally, “having a mentor to advocate for you is key,” says Aileen Tan. “[My mentor] helped me build up confidence and provided a good sounding board.”

    Schedule a meeting

    It is important to schedule a meeting in advance and to make clear that you would like to discuss compensation and career development. Don’t spring the conversation on your manager unexpectedly or frame it casually.

    Additionally, be strategic with the timing of the meeting. “For example, if everybody’s really busy with the launch a new product launch and everybody’s really all hands on deck, maybe that’s not the right time,” she says.

    Showcase your value

    As they like say for college essays: “Show, don’t tell.” It’s the same with salary negotiations.

    It’s crucial to bring examples of how you’ve helped solve problems and create a positive impact in the past. Quantifying your examples with numbers can also help during your negotiation.

    “Communicate the impact that you’ve driven through your role, through your work, through the results that you’ve driven, tying it back to what the company and your team objectives are,” Chhabria suggests.

    Be professional

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  • Microsoft skips salary increases for full-time employees this year

    Microsoft skips salary increases for full-time employees this year

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    Satya Nadella, CEO of Microsoft, appears at the World Economic Forum in Davos, Switzerland, May 24, 2022.

    Hollie Adams | Bloomberg | Getty Images

    Microsoft will hold off on offering salary increases to full-time employees, CEO Satya Nadella told staffers by email Wednesday.

    The move aligns with Microsoft’s efforts to reduce costs as revenue growth slows and clients reel in spending. In January, the software maker said it would cut 10,000 jobs, or just under 5% of its workforce. Alphabet, Amazon, Meta and other tech companies have downsized as well in recent months.

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    Last year, as inflation rippled through the economy, Microsoft nearly doubled the budget for merit increases and boosted stock allocations for certain employees. This year, compensation will look more normal.

    “We will maintain our bonus and stock award budget again this year, however, we will not overfund to the extent we did last year, bringing it closer to our historical averages,” Nadella wrote in the email. Microsoft did not immediately respond to a request for comment. Insider reported on the message earlier.

    Nadella said performance bonuses for Microsoft’s top executives will be down considerably from last year.

    In April, Microsoft Chief Financial Officer Amy Hood said year-over-year revenue growth in the current quarter would slow to 6.7% from 7.1% in the first three months of the year. The company also called for operating expenses to grow less than 2%, compared with 7.4% growth in the first quarter.

    In addition to his comments on pay, Nadella highlighted Microsoft’s effort to capitalize on a growing artificial intelligence market.

    “We are clear that we are helping drive a major platform shift in this new era of Al, and doing so in a dynamic, competitive environment while also facing global macroeconomic uncertainties,” Nadella wrote.

    In January, Microsoft announced a multibillion-dollar investment in startup OpenAI, which relies on Microsoft’s Azure cloud to run its viral ChatGPT chatbot and provide large language models such as GPT-4 to power apps from Microsoft and a variety of other companies.

    Hood said last month Microsoft’s capital expenditures would increase quarter over quarter because of investment in Azure AI infrastructure.

    WATCH: Microsoft’s Satya Nadella joins fellow tech executives for White House meeting on AI

    Microsoft's Satya Nadella joins fellow tech executives for White House meeting on AI

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  • What Home Depot’s billion-dollar pay raise may help prove about workers

    What Home Depot’s billion-dollar pay raise may help prove about workers

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    Workers walk through the garden center at a Home Depot store

    Scott Olson/Getty Images

    In its last quarterly earnings report, Home Depot forecast flat sales and lower profits for 2023, partly because consumers aren’t spending as much on home improvement products as they did during the pandemic, a boon period for the sector. Another hit to its bottom line, the company predicted, was the decision to invest $1 billion this year to increase hourly wages for every one of its frontline workers.

    Giving pay raises at the same time sales are slumping seems like an incongruous strategy, but Home Depot executives project that it will actually boost the big-box retailer’s industry-leading position. “We plan to continue to capture market share,” CFO Richard McPhail told analysts during the February earnings call. One reason, he said, is “the unique advantage that our orange-blooded associates give us over our competition,” alluding to Home Depot’s signature color and the term for its frontline employees.

    While Home Depot made a splash with the billion-dollar pay hike, it comes on the heels of similar moves by other major retailers that also espoused the benefits of investing in a well-paid workforce.

    A year ago February, Target set a new starting wage range from $15 to $24 an hour for its so-called team members and expanded access to health care benefits, at a cost of $300 million in 2022. “We know that those investments lead to a more engaged team and that team then builds greater guest trust and loyalty, which in turn continues to power our growth across the company,” said Melissa Kremer, chief human resources officer, last fall when Target was named 12th among Fortune’s 100 best companies to work for.

    In January, Walmart announced it was raising the minimum hourly wage for its store employees to $14 from $12 and up to $19 an hour, establishing an average wage of $17.50 an hour. “Retaining talent and establishing career opportunities for our associates remains a central objective to our growth ambitions,” CFO John David Rainey said at an investor meeting in April. “We are confident we can make the investments needed to remain competitive in a tight labor market while also growing our profitability.”

    Although it’s difficult to draw a straight line from the cost of labor to sales, profits and market share — and retailers are also making big investments in automation — retaining a loyal and satisfied workforce can be seen as a wise strategy amid an ongoing battle for talent, and even as persistent inflation and interest rate hikes are expected to further moderate what has been robust consumer spending.

    Irrespective of Home Depot’s strong track record on Wall Street, Morgan Stanley analyst Simeon Gutman said he was somewhat surprised by the $1-billion outlay. “The investment community largely thought Home Depot was already in prime position in terms of wage rates,” he said, noting a series of pay increases in recent years. And the fact that the company is anticipating less-than-rosy sales this year was another eyebrow-raiser. “The [home improvement] environment seems to be weakening, not accelerating, and therefore incremental wage investments at this time would open the door to more questions and surprise. But if you look at Home Depot over multiple years, you’re okay with it.”

    Ann-Marie Campbell, executive vice president of U.S. stores and international operations at Home Depot, says the increase in wages is just one component of the investment story in associates. “We know that the key to an engaged and committed workforce is investing in the person and in their development,” she said.

    The company also began the year with a new store leadership structure, creating new management positions and increasing the number of managers on the floor at any given time. “This is a meaningful investment that we believe will position us favorably in the marketplace,” she said.

    “Essentially what they’re doing is reinvesting in a key competitive advantage of their business model, which is service within their stores,” said Brian Nagel, an analyst with Oppenheimer.

    Market leaders such as Home Depot, Walmart and Target that have scale should be in better positions than mid-size competitors to invest in their labor force, Gutman said. “They’re behaving as they should given the tight labor market, showing leadership and not just thinking about a 12-month timeframe. They’re thinking about 12 to 36 months.”

    The efficiency wage theory

    The concept that maintaining a well-compensated, enthusiastic workforce is good for business is at the heart of what labor economists refer to as the efficiency wage theory, which postulates that paying employees higher than minimum wages increases productivity, retention rates and loyalty. That, in turn, is reflected in customer satisfaction and goodwill versus the competition.

    “Providing customers a compelling reason to shop at your stores requires giving them real value and good service, and that’s not possible without having motivated and empowered employees,” said Zeynep Ton, a professor at MIT Sloan School of Management in Cambridge, Massachusetts, who has studied retail operations for more than 20 years. “Any retailer that wants to win needs to make sure they attract and retain the right employees and design their jobs so they can be productive and serve their customers well. And in a tight labor market, it’s getting increasingly difficult to keep talent [if] you pay unlivable wages and [offer] few opportunities for growth and success.”

    In addition to the efficiency wage theory, there is significant empirical evidence that paying low wages hinders employees’ ability to focus on the job and be productive, said Ton, who expounds on this topic in her forthcoming book, “The Case for Good Jobs.”

    “It also drives turnover and attendance problems,” she said. “The bottom line is that employee turnover and low pay cost companies a lot more than executives may think, both financially and competitively.”

    It’s hard to say when, and if, Home Depot will see a demonstrable return on the monumental expenditure for its frontline workers. Regardless, CEO Ted Decker said during the February earnings call, “We harken back to … what our founders said: that if we take care of our associates, they take care of the customer and everything takes care of itself. That’s what this investment is all about.” 

    Tight labor market will push inflation higher, says Citi global chief economist

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  • Rent or buy? Here’s how to make that decision in the current real estate market

    Rent or buy? Here’s how to make that decision in the current real estate market

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    Choosing whether to rent or buy has never been a simple decision — and this ever-changing housing market isn’t making it any easier. With surging mortgage rates, record rents and home prices, a potential economic downturn and other lifestyle considerations, there’s so much to factor in.

    “This is an extraordinarily unique market because of the pandemic and because there was such a run on housing so you have home prices very high, you also have rent prices very high,” said Diana Olick, senior climate and real estate correspondent for CNBC.

    By the numbers, renting is often cheaper. On average across the 50 largest metro areas in the U.S., a typical renter pays about 40% less per month than a first-time homeowner, based on asking rents and monthly mortgage payments, according to Realtor.com.

    In December 2022, it was more cost-effective to rent than buy in 45 of those metros, the real estate site found. That’s up from 30 markets the prior year.

    How does that work out in terms of monthly costs? In the top 10 metro regions that favored renting, monthly starter homeownership costs were an average of $1,920 higher than rents.

    But that has not proven to be the case for everyone.

    Leland and Stephanie Jernigan recently purchased their first home in Cleveland for $285,000 — or about $100 per square foot. The family of seven will also have Leland’s mother, who has been fighting breast cancer, moving in with them.

    By their calculations, this move — which expands their space threefold and allowing them to take care of Leland’s mother — will be saving them more than $700 per month.

    ‘You don’t buy a house based on the price of the house’

    “You don’t buy a house based on the price of the house,” Olick said. “You buy it based on the monthly payment that’s going to be principal and interest and insurance and property taxes. If that calculation works for you and it’s not that much of your income, perhaps a third of your income, then it’s probably a good bet for you, especially if you expect to stay in that home for more than 10 years. You will build equity in the home over the long term, and renting a house is really just throwing money out.”

    Mortgage rates dropped slightly in early March, due to the stress on the banking system from the recent bank failures. They are moving up again, although they are currently not as high as they were last fall. The average rate on a 30-year fixed-rate mortgage is 6.59% as of April — up from 3.3% around the same time in 2021.

    But that hasn’t significantly dampened demand.

    “As the markets kind of bubbled in certain parts of the country and other parts of the country priced out, we’ve seen a lot of investors coming in looking for affordable homes that they can buy and rent,” said Michael Azzam, a real estate agent and founder of The Azzam Group in Cleveland.

    “We’re still seeing relatively high demand” he added. “Prices have still continued to appreciate even with interest rates where they’re at. And so we’re still seeing a pretty active market here.”

    Buying a home is part of the American Dream

    The Jernigans are achieving a big part of the American Dream. Buying a home is a life event that 74% of respondents in a 2022 Bankrate survey ranked as the highest gauge of prosperity — eclipsing even having a career, children or a college degree.

    The purchase is also a full-circle moment for Leland, who grew up in East Cleveland, where his family was on government assistance.

    “I came from a single-mother home who struggled to put food on the table and always wanted better for her children … it was more criminals than there were police … It is not the type of neighborhood that I wanted my children to grow up in,” said Jernigan.

    The new homeowner also has his eye on building a brighter future for more children than just his own. Jernigan plans to purchase homes in his old neighborhood, renovate them and create a safe space for those growing up like he did.

    “I’m here because someone saw me and saw the potential in me and gave me advice that helped me. … and I just want to pay it forward to someone else” Jernigan said.

    Watch the video above to learn more.

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  • Earning less than $30,000 a year is a ‘deal breaker’ for daters, new survey finds

    Earning less than $30,000 a year is a ‘deal breaker’ for daters, new survey finds

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    One-third of couples don’t talk about finances until after marriage, according to a recent survey of 1,000 adults by Western & Southern Financial Group. 

    This is especially alarming because, as it turns out, people do have financial deal breakers when it comes to seeing someone as a potential partner.

    When asked what amount of debt or how low a salary would make a potential partner undateable, survey respondents had some surprising answers. Here are two financial deal breakers, according to the study. 

    Salary deal breaker: Less than $29,878

    This is well below the median annual salary in the United States, which is $37,522, according to 2021 data from the U.S. Census Bureau.

    Salary was the number one financial trait that respondents wish they had talked about sooner with their partners. 

    More than one-fourth, 27.2%, of those surveyed said they only talked about salaries after getting married. And 18.7% said they talked about salaries after getting engaged. 

    Student loan debt deal breaker: More than $28,076

    This is below the average amount of student loan debt someone with a bachelor’s degree has, which is $37,574, according to data from Education Data Initiative.

    Men are a little more forgiving of debt than women, the survey showed. For men, $31,179 was a deal breaking amount of debt. For women it was $22,901. 

    Personal loans and credit card debt were also a source of friction while dating, according to the survey. 

    Ask your partner these 5 money questions

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  • California forces companies to show pay on job listings, revealing big tech salaries

    California forces companies to show pay on job listings, revealing big tech salaries

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    Steve Proehl | Corbis Unreleased | Getty Images

    A new law that went into effect this week requires most California employers to disclose salaries on job listings.

    The law affects every company with more than 15 employees looking to fill a job that could be performed from the state of California. It covers hourly and temporary work, all the way up to openings for highly paid technology executives.

    That means it’s now possible to know the salaries top tech companies pay their workers. For example:

    Notably, these salary listings do not include any bonuses or equity grants, which many tech companies use to attract and retain employees.

    California is the latest and biggest of the states and cities that have enacted pay transparency laws, including Colorado and New York City. But more than 20% of Fortune 500 companies are based in California, including leaders in technology and media, and advocates hope that California’s new law will be the tipping point that turns posting salary information into standard practice.

    In the U.S., there are now 13 cities and states that require employers to share salary information, covering about 1 in 4 workers, according to Payscale, a software firm focusing on salary comparison.

    California’s pay transparency law is intended to reduce gender and race pay gaps and help minorities and women better compete in the labor market. For example, people can compare their current pay with job listings with the same job title and see if they’re being underpaid.

    Women earn about 83 cents for every dollar a man earns, according to the U.S. Census.

    “You’re going to need a lot of different elements in place in order for men and women to get paid the same for the same amount of work and the same experience,” said Monique Limón, the California state senator who sponsored the new law. “And one of those is transparency around salary ranges.”

    But the new disclosures under the law might not tell the whole story of what a job pays. Companies can choose to display wide pay ranges, violating the spirit of the law, and the law doesn’t require companies to reveal bonuses or equity compensation.

    The law could also penalize ambitious workers who are gunning for more money because of their experience or skills, the California Chamber of Commerce said last year when opposing the bill. Some employers might be wary of posting pay to prevent bidding wars for top talent.

    In a comment to CNBC, a Meta spokesperson said, “To ensure fairness and eliminate bias in our compensation systems, we regularly conduct pay equity analysis, and our latest analysis confirms that we continue to have pay equity across genders globally and by race in the US for people in similar jobs.” The firm also noted that it generally pays full-time employees in equity as well as cash.

    Apple and Google did not immediately respond to requests for comment.

    The new law

    There are two primary components to California Senate Bill No. 1162, which was passed in September and went into effect Jan. 1.

    First is the pay transparency component on job listings, which applies to any company with more than 15 employees if the job could be done in California.

    The second part requires companies with more than 100 employees to submit a pay data report to the state of California with detailed salary information broken down by race, sex and job category. Companies have to provide a similar report on the federal level, but California now requires more details.

    Employers are required to maintain detailed records of each job title and its wage history, and California’s labor commissioner can inspect those records. California can enforce the law through fines and can investigate violations. The reports won’t be published publicly under the new law.

    Limón said the bill helps narrow pay gaps by giving information to people so they can negotiate their pay better or determine if they are being underpaid for their experience and skills. It will also help the state make sure companies are following existing equal pay laws.

    “The reason this is important is that we are not able to address problems that we cannot see,” she said.

    Limón said she also hopes that the requirement will help California companies recruit the best talent and compete against other states that don’t require employers to post salaries.

    Pay transparency laws could also spur companies to raise wages after they see that rivals are offering higher salaries. Some companies could even choose to post salary ranges on job listings where it’s not required.

    Ultimately, she said, helping to ensure women and people of color are getting paid equally will help California’s economy.

    “The consequence is not just for an individual; there are economic consequences for the state for people being underpaid,” Limón said. “That means that their earning power and how they’re able to contribute to this economy in California, whether it’s through a sales market, a housing market, through investment, is limited, because they are not being paid equitably.”

    Loopholes

    The new law doesn’t require employers to post total compensation, meaning that companies can leave out information about stock grants and bonuses, offering an incomplete picture for some highly paid jobs.

    For high-paying jobs in the technology industry, equity compensation in the form of restricted stock units can make up a large percentage of an employee’s take-home pay. In industries such as finance, bonuses make up a big portion of annual pay.

    “Especially for tech employees, ultimately people want to know how much they’re getting in total compensation,” said Zuhayeer Musa, co-founder of Levels.fyi, a firm focused on recruiting and coaching for technology workers which crowdsources compensation. “Sometimes stock compensation can be more than 50% of your actual total comp.”

    Musa said stock from big tech companies is basically liquid because it can be immediately sold on the stock market.

    The new law also allows companies to provide wide ranges for pay, sometimes ranging over $100,000 or more between the lowest salary and the highest salary for a position. That seemingly violates the spirit of the law, but companies say the ranges are realistic because base pay can vary widely depending on skills, qualifications, experience and location.

    Companies may be open to hiring candidates with a range of experience — starting from entry level to a more senior person — for a particular opening, said Lulu Seikaly, senior corporate attorney at Payscale.

    Seikaly said she recommends clients post job listings with a specific seniority level to narrow the potential pay range.

    “When we talk to customers, and they ask what do you think is a good-faith range, we tell them that’s a business decision, but the way we would do it, especially from the legal side, if you post by levels, that’s going to cover you a lot more than posting one wide range,” Seikaly said.

    Some California companies are not listing salaries for jobs clearly intended to be performed in other states, but advocates hope California’s new law could spark more salary disclosures around the country. After all, a job listing with an explicit starting salary or range is likely to attract more candidates than one with unclear pay.

    “I was telling some folks this morning that pay transparency right now is kind of the exception,” Seikaly said. “Give it five to 10 years, I think it’ll end up being the norm.”

    Gender pay gap remains despite more women entering the work force

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  • There’s an opportunity to bring talent from other sectors into banking, says Citi

    There’s an opportunity to bring talent from other sectors into banking, says Citi

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    Julia Raiskin of the investment bank discusses what it's doing to retain and attract staff.

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  • HarperCollins union begins strike, citing wages, diversity

    HarperCollins union begins strike, citing wages, diversity

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    NEW YORK — Some 250 copy editors, marketing assistants and other employees at HarperCollins Publishers went on strike Thursday, with the two sides differing over wages and benefits, diversity policy and union protection. It was a rare work stoppage in book publishing, where HarperCollins is the only company among the industry’s so-called “Big Five” to have a labor union.

    “We feel really good about we’re doing and the spirit we’re doing it with,” said Carly Katz, an audio coordinator at HarperCollins and one of more than 100 striking staff members who picketed outside of the publisher’s offices in downtown Manhattan.

    “We feel like this is the kind of action we need to take to make things happen,” said Parrish Turner, an editorial assistant in the children’s division of HarperCollins.

    The HarperCollins union, Local 2110 of the United Auto Workers, struck for one day last summer and this time plans to stay out indefinitely until an agreement is reached. Employees had been working without a contract since April.

    “HarperCollins has agreed to a number of proposals that the United Auto Workers Union is seeking to include in a new contract,” a HarperCollins spokesperson said in a statement. “We are disappointed an agreement has not been reached and will continue to negotiate in good faith.”

    No new negotiations are currently scheduled.

    The strikers represent a small percentage of HarperCollins’ worldwide personnel, which totals around 4,000. The publisher is owned by Rupert Murdoch’s News Corp. and earlier this fall laid off a “small number” of employees, citing cost management and uncertainly about the publishing market. This week, News Corp. reported an 11 percent drop in sales for HarperCollins during the fiscal first quarter, citing the strong U.S. dollar and warehousing issues at Amazon.com as factors.

    In recent years, entry- and mid-level employees throughout publishing have been increasingly vocal on social media about their unhappiness with wages, workloads and diversity. Book publishing has long been a predominantly white, low-paying industry, and starting salaries remain below $50,000 at many companies, making it increasingly difficult for staffers to afford to live in New York City.

    Numerous authors and agents have expressed support for the union. Tara Gonzalez of the Erin Murphy Literary Agency tweeted that she would send no submissions to HarperCollins until an agreement was reached. During the walkout in July, Neil Gaiman noted that he was published by HarperCollins in the U.S. and tweeted “I hope that the terrific people working there, who get my books made and onto the shelves, succeed in their demands.”

    In a company memo sent last week and since widely circulated, Zandra Magariño, the publisher’s senior vice president for personnel, wrote that “While our goal remains to reach agreement on a fair contract with the United Auto Workers Union that is beneficial to both parties, HarperCollins has implemented plans to ensure that operations continue uninterrupted during a potential strike.”

    Union representation at HarperCollins long precedes the ownership of Murdoch, who purchased what was then Collins and Harper & Row in the 1980s. In 1974, employees at Harper & Row went on strike for 2 1-2 weeks before agreeing to a new contract.

    While few publishers have unions, organizing efforts have grown sharply at independent bookstores around the country, with employees citing the pandemic as making them more sensitive to working conditions. Moe’s Books in Berkeley, California and McNally Jackson stores in New York City are among the sellers whose staffers have formed or joined unions.

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  • Remote jobs have tripled during the pandemic—these are the top 10 companies hiring for them

    Remote jobs have tripled during the pandemic—these are the top 10 companies hiring for them

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    Though people are returning to in-office work, the option for remote work remains high and is likely to keep growing.

    The share of jobs that explicitly say workers can be remote has nearly tripled from pre-pandemic, from roughly 4% of in 2019 to nearly 12% of jobs in 2022, according to ZipRecruiter data.

    Some previous growth is now reversing as people resume in-person activities, particularly in education, tourism, agriculture and sports and recreation jobs, according to the job-search platform. Remote roles in business, arts and entertainment, and finance and insurance have leveled off throughout the last two years.

    But elsewhere, remote opportunities are rapidly expanding: technology, legal, engineering and science jobs are well-suited for remote work, and organizations — especially in health care, financial services and tech — are continuing to offer them.

    Here are the top 10 companies hiring for the largest share of remote-capable jobs on ZipRecruiter in 2022:

    1. Anthem: 60,445 remote jobs listed this year
    2. CBRE: 51,304 remote jobs listed this year
    3. USAA: 42,311 remote jobs listed this year
    4. Capital One: 36,336 remote jobs listed this year
    5. Cerebral: 34,526 remote jobs listed this year
    6. Change Healthcare: 30,602 remote jobs listed this year
    7. Meta: 29,052 remote jobs listed this year
    8. SAP: 282,62 remote jobs listed this year
    9. Kronos: 25,965 remote jobs listed this year
    10. SelectQuote: 25,799 remote jobs listed this year

    Upwards of 60% of job seekers hope to find remote opportunities, according to ZipRecruiter data. And a similar share, 56%, of full-time U.S. workers — more than 70 million people — say their job can be done working remotely from home, according to Gallup.

    Women are more likely than men to prefer remote work, and Black, Asian American and Latino workers are more likely than white peers to want the setup, per ZipRecruiter. Workplace experts have said throughout the pandemic that a greater adoption of flexible work arrangements could help boost company diversity, equity and inclusion efforts.

    Since the beginning of 2022, workers say Covid concerns are becoming less of a reason for wanting to work remotely, but a desire to save on commuting costs has gone up considerably. The typical job-seeker would even take a 14% pay cut in order to work remotely, with younger workers and higher earners willing to give up even more for the flexibility.

    Looking ahead, Gallup estimates 55% of jobs in the future will be done in a hybrid setup, and 22% will be done fully remote — nearly three times the share of exclusively remote jobs available before the pandemic. It projects just 23% of jobs will be done exclusively from a worksite, down from 60% of solely in-person work done in 2019.

    Check out:

    Job openings dropped by 1 million last month—here’s why

    California job-seekers will soon see salary ranges on job postings

    Why does work feel so dysfunctional right now? A psychologist, labor expert and CEO weigh in

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