"What free trade did to blue collar jobs, Remote work will do to white collar jobs."
- @naval tweeted last year.
So these are 6 predictions about the true impact of remote work globally.
1. High Paying Jobs Become Available Globally
- Companies have long struggled to hire tech talent locally
- After the pandemic, many are going remote
- They start hiring candidates who have the right skills for the job
- Regardless of where in the world they are physically located
2. Tech Workers Flee Expensive Cities
- Location is no longer a key factor to get high paying jobs
- Many tech workers living in expensive cities decide it isn't worth the cost
- They move out to cheaper and more liveable places
- Many emigrants return to their home country
3. Previously Buzzing Cities Become Less Buzzing
- Cities like SF, NY, and London are facing an exodus
- Offices are emptier and some surrounding businesses are less viable than before
- These cities will gradually convert from commuter-optimised to liveability-optimised
4. A Growing “Digital Diaspora” in Third World Countries
- This is a life-changing opportunity for people in developing countries
- People who used to earn $20k, now earn $100k remotely
- Their career, salary and daily interactions are international. They are digital emigrants
5. Demand for Digital Talent Is Still Larger Than Supply
- The skills gap has been widening over the last decade
- Even with this massive shift to remote work, there's still more openings for tech workers than there are people with such skills in the world
6. Salaries Will Adjust Towards a Global Mean
- Top tier salaries (above $300k) might become rarer in remote work
- Lower tier salaries (below $50k) will massively increase
- Many people with decent experience in high demand skills could see their salary double or triple
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