High-tech pay down 15% from record high
High-tech pay down 15% from record high
The average salary in high-tech in Israel in August was around $8,000, compared to over $9,500 in March.
The average salary in Israel's high-tech sector has taken a significant dip, decreasing by 4.2% from NIS 31,508 (approximately $8,400) in July to NIS 30,190 ($8,060) in August, according to a report from the Central Bureau of Statistics published on Monday. This represents a 15.8% drop from the all-time high of NIS 35,870 ($9,575) recorded in March, putting pressure on an industry that has long been a key driver of Israel’s economic growth. The latest figures show the average high-tech wage is now just 1.3% above the sector's recent low of NIS 29,804 reached in May.
The number of salaried jobs in high-tech has also seen a slight decrease, falling by 0.6% in August to 400,300 positions, down from the record 402,900 in July. However, this level still marks a 0.5% increase compared to August 2023 (398,400), maintaining high-tech’s share of over 10% of all salaried jobs in Israel.
Meanwhile, the broader economy saw a 4.8% increase in the average wage over the past year, rising to NIS 13,535 in September, up from NIS 12,911 in September 2023. Compared to August, this reflects a 1.2% increase. This uptick also highlights the impact of recent advocacy efforts, which prevented freezes on disability allowances, ensuring they remained aligned with the average wage.
The latest data underscores a mixed outlook for Israel’s high-tech sector. While overall job numbers remain high, salaries have yet to recover from previous peaks, signaling potential headwinds for the industry’s stability in a shifting economic landscape.
