igamingbusiness . com
PEOPLE
SALARIES BY FUNCTION AND ROLE
“ Overall salaries have returned to ‘ normal ’ following the remarkable 12.5 % year-onyear growth observed in 2021 and 2022 ”
STEVE KIRK , MANAGING CONSULTANT
MARKET OVERVIEW
After experiencing record salary increases of up to 30 % in some instances in 2022 , the igaming industry has settled into more moderate figures . However , some employers feel that candidates are still too expensive and have pushed back with lower-than-expected offers . While hiring activities have slowed across many functions there is still plenty of opportunity for top talent and candidates can wait for better opportunities if offered belowaverage salaries .
Therefore , it ’ s important to understand what ’ s driving salaries and plan accordingly . Aligning talent acquisition and retention with business objectives and growth is essential in today ’ s market . By strategically investing in talent and offering a competitive rate , you can yield a significant return on investment ( ROI ).
RECALIBRATION OF SALARIES
Overall salaries have returned to “ normal ” following the remarkable 12.5 % year-on-year growth observed in 2021 and 2022 . There has been a stabilisation in wage trends across the industry , with growth at approximately 4 %. This trend towards recalibration is positive and signifies the industry ’ s commitment to maintaining competitive compensation while managing economic factors .
Additionally , there ’ s a noticeable trend among employers embracing flexible work arrangements , with over 50 % of surveyed employers introducing such measures , recognising that attracting candidates goes beyond monetary incentives .
FINANCIAL IMPACT OF COVID
The pandemic undoubtedly contributed to the growth of the igaming sector with the shift to digital and successive lockdowns accelerating expansion . Now , the industry ’ s focus has shifted to taking control of the numbers and achieving post-pandemic sustainable growth . C-level leaders play a pivotal role in guiding these efforts , ensuring that financial strategies align with the industry ’ s ambitions for long-term success .
NEW GEOGRAPHIC MARKETS FOR GROWTH
The Conexus Group Skills & Employment Survey suggests that the use of mergers and acquisitions to access new markets appears to be waning in favour of expansion into new geographic markets . Specifically , the igaming sector has set its sights on emerging markets like LatAm , where significant potential for expansion exists . Access to talent with market-specific knowledge is increasingly valued as companies seek to navigate these new territories effectively .
IT DEVELOPMENT AT THE FOREFRONT
Sixty per cent of our survey respondents identified IT development as the area with the highest demand for skills , highlighting the critical role of technology in the sector ’ s evolution . Even after the layoffs seen earlier in the year , we have a tech skills shortage which means it ’ s never been more important to think creatively about talent acquisition and retention . Flexible working , competitive compensation and tech outsourcing solutions are all part of the mix .
The igaming industry is undergoing a series of adjustments and transformations in response to market conditions and regulation . Flexibility , innovation and aligning talent and retention with strategic objectives will help you navigate these changes successfully .
Steve Kirk
ICE LONDON 2024 • ISSUE 135 • 91