The big tech companies are responsible for a large part of the salary excesses in the tech industry.
(Photo: imago/Xinhua)
The digital transformation needs professionals. Therefore, considerations in the German economy to introduce upper limits for the salaries of IT specialists are the completely wrong approach. Of course, such mental games fit into a time when politicians are converting the social market economy into a social cover economy. Whether it’s rent or energy. If the government doesn’t know what to do, a lid is put on it. However, even with the introduction of coercive measures such as the rent cap in Berlin, everyone knows that this will go wrong.
However, if the German economy seriously considers limiting the salaries of IT professionals, then it will harm itself. Intervention in the price mechanism is never good. The market economy lives on supply and demand. However, anyone who artificially curtails the supply sends out fatal signals. The idea of arranging this within the industry is also a wrong approach. That would be nothing more than the formation of a cartel on the market, as is currently the case with the mineral oil companies.
>> Read more: 100,000 euros for IT developers quite normal? Companies have to set an upper limit for salaries
Basically, the problem can only be solved in the long term – by starting with what is on offer, i.e. by ensuring that the relevant subjects are promoted in schools and universities. For years, companies have rightly complained that too few young people choose to study or train in mathematics, computer science, natural sciences and technology.
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The debate about a salary cap is certainly not the right incentive to lure potential applicants into these subjects. Perhaps HR should do a survey in the lecture halls to find out which factors are decisive when choosing a course. Money is not everything. However, if you already know when you start your career where you will end up financially at the age of 67, you will become a civil servant right away.
Amazon, Apple, Microsoft, the big players in the industry, may be the drivers of the salary excesses. But the answer cannot be to raise the national salary walls. Talent just wanders. In addition, a shadow market will emerge. Even if you were to set a sound limit of 100,000 euros for a developer, for example.
How fast would you be when it comes to additional offers: company car, another bonus if you achieve your goals as softly as possible. Even if it’s the rockier road: The German economy doesn’t need salary socialism. You need to get to the root of the problem, not the symptoms.
Considerations in the German economy to introduce upper limits for the salaries of IT specialists are the worst possible solution.
More: “A million dollars for brilliant developers”: US corporations are driving up salaries for IT staff.