Determinants of Pay in the Ukrainian IT Industry

With the development of artificial intelligence, Information Technology has become the most prestigious and highest paid field in the world. Mankind is trying to automate every process. The performance of this sector of the economy is growing rapidly in Ukraine and brings in about $5 billion a year. Compared to 2013, the share of the IT sector has increased 5 times and accounts for 8.3% of total exports as of 2020. It brings the IT industry closer to the key engines of the Ukrainian economy, such as agriculture and metallurgy. According to Outsourcing Journal, the number of IT companies in Ukraine should double by 2025. As for 2020, Ukraine became the 4th country in the world to provide technical services (after the United States, Russia and India). Ukrainian outsourcing provides a wide range of services from individual to large-scale software development companies. Thanks to many years of experience and proven practices, outsourcing companies offer developers of the senior level. It creates a trust in world-renowned brands, which increases the number of orders and, accordingly, the IT teams in Ukraine. The number of employees in the IT industry of Ukraine grows by 20% annually, including not only technical specialties. As of 2020, more than 200, 000 Ukrainians work with technological resources, 67% of which are located in Kyiv, Lviv and Kharkiv. Wages in this area range from $2, 000 to $5, 000 per month and are much higher than the market average. High salary rates attract pupils and directly affect on the choice of future profession. The share of entrants to STEM faculties is increasing to 130,000 professionals graduates annually.