According to the “State of Global Hiring Report 2021” published by San Francisco-based Deel, salaries of Pakistanis employed for remote labour by international employers are among the world’s fastest rising. For businesses who hire overseas workers and contractors online, the organisation offers employment and payroll services. Since the COVID-19 pandemic began, the demand for remote workers has increased. The pandemic and recent developments in communications technology are contributing to the globalisation of the talent labour market, opening up new chances for people in underdeveloped countries to work remotely for multinational corporations at better wages.
Mexico experienced the largest salary growth for foreign online hires (57%) followed by Canada (38%) Pakistan (27%) and Argentina (21 percent ). Salary increases for international hires from India, the Philippines, and Russia totaled 8%, 7%, and 4%, respectively. The top three nations in the Asia Pacific region where people were hired through Deel were Pakistan, India, and the Philippines.
The minimum wage of American software company Edge’s remote workers in Pakistan was increased by 150% to Rs. 200,000 ($1,000 USD) per month. The 190 employees of the Sacramento, California-based company work from home. “We are mindful of the effects of the global economic slump on our people, particularly in Pakistan. Its Pakistani-American founder and CEO Iffi Wahla remarked, “We feel our obligation towards our people and the need to invest in them more than before. “I genuinely hope that this judgement kicks off a wave of salary rises across the nation. Our goal is to democratise fair pay and employment opportunities worldwide.
Fact – Freelancers in Pakistan generated above $215 million in exports (through their services) during the fiscal year 2021-22! @beinggurudotcom has played a vital role in bringing the freelance culture to Pakistan!#letsconnect with the best #letsconnect with #hishamsarwar!
— Digi-IK (@DigiIk) June 18, 2022
Edge was established in 2020 and works in the retail, health, and insurance industries. It offers remote workers from throughout the world to North American businesses. The company, which includes operations in the United States, Pakistan, and Peru, has 320 total workers. By the end of this year, Edge intends to reach seven more nations, and by 2024, 150 nations.
More than 250 specialists in law, accounting, mobility, and tax are partners at Deel. According to the organization’s most recent study on global recruiting, any corporation can easily write, sign, and deliver localised contracts that are compliant with local laws, as well as pay teams in more than 120 different currencies. It enables contract workers to take out a portion of or all of their compensation in cryptocurrencies like Bitcoin, Ethereum, Solana, Dash, and USDC.
The actual salaries given in Pakistan following the 27 percent salary increase were not made public by the Deel study. In contrast, a 2019 global survey by Payoneer revealed that Pakistani women freelancers were making $22 per hour, 10% more than the $20 per hour that males were making. Pakistani female freelancers earn more than the world average whereas Pakistani male freelancers earn the same as the global average. The country’s labour force participation hurdles for women are being reduced by the digital gig economy, which also helps women earn more than males. A university degree does not, according to the report, help you earn more in the burgeoning gig economy. The poll was taken in 2015.
A typical Pakistani freelancer makes $34,000 a year, or approximately 6 million Pakistani rupees, working 34 hours per week at $20 an hour, which is a modest income for a young Pakistani. For talented young people in underdeveloped countries like Pakistan, this is one benefit of the internet global job market. Experience with freelancing might occasionally result in Pakistani IT startups. Pakistani tech startups had a successful year in 2021.