High-Tech salaries in Israel take nosedive in April

Sector sees average salaries falling from record high in March, overall number of salaried positions decreases slightly compared to previous month and year

Gad Lior|
The average salary for Israeli employees fell to 13,506 shekels ($3,647) in April 2024, down from slightly over 14,000 shekels ($3,780) recorded in March, according to data released this week by the Central Bureau of Statistics.
This represents a 7.3% increase compared to April of last year but a notable decline from the previous month. Preliminary estimates for May indicate a further drop, with the average salary reaching 13,093 shekels ($3,535).
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עובדי היי-טק
עובדי היי-טק
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Additionally, the number of salaried positions in April stood at 3.965 million, reflecting a 0.2% decrease from March and a 0.8% decrease compared to April 2023.
The high-tech sector also experienced a significant downturn after several months of increases and record highs. The average salary in this sector was 31,976 shekels ($8,634) in April, an 8% increase from last year but a decrease from the all-time high average of 35,870 shekels ($9,685) recorded in March. The number of salaried positions in high-tech was 398,400, a 0.2% decrease from March 2024 but a 0.6% increase compared to April 2023.
The most substantial decrease in average salary within the high-tech sector was among programming and computer consultancy employees, whose average salary fell to 32,737 shekels ($8,839) compared to 38,308 shekels ($10,343) the previous month. According to the Central Bureau of Statistics, this sector constitutes over 50% of high-tech employees. Research and development workers earned an average of 34,380 shekels ($9,283), while employees in computer, electronic and optical manufacturing earned 33,309 shekels ($8,993) on average.
By industry, the highest average salary in March was in the information and communications sector at 30,576 shekels ($8,256), followed by financial and insurance services at 29,274 shekels ($7,904) and the electricity and water sector at 21,859 shekels ($5,902).
At the bottom of the salary scale for March were employees in the hospitality and food services sector, with an average salary of 6,289 shekels ($1,698) per month, followed by various service employees earning 6,474 shekels ($1,748) and arts, entertainment and recreation workers (excluding artists) with a gross salary of 7,356 shekels ($1,986) per month.
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