“Liquidity and stability are a value proposition now, and paying top-dollar cash comp,” said Aalap Shah, managing director at Pearl Meyer. They [firms in the financial sector going after tech workers] should be going out there and recruiting like crazy.” 

"The pendulum has certainly swung back the other way [for tech workers]”, said Aalap Shah, managing director at Pearl Meyer. "Now there are austerity measures all around, and companies are looking to focus in on talent of the highest caliber."

“The stock market is hammering tech companies,” said Wes Hart, a managing director with Pearl Meyer, an executive compensation consultancy. “When we look back at end of the year, oil and gas bonuses are going to be good. The others? Not so much.”

“Executive succession and retention are an important issue,” said Wes Hart, managing director with Pearl Meyer. “With all of the oil and gas cycles in the past few years, the lack of executive talent is an issue. When oil and gas were doing badly, it was hard to keep people.”

"It’s surprising because historically it has been pretty rare to see mid-year salary increases," said Rebecca Toman, vice president of the survey business unit at Pearl Meyer.

Pearl Meyer, a compensation consultancy, found that 70% of organizations had implemented larger salary increases this year compared to 2021.