The global trend of working as a freelancer or remotely for foreign employers is becoming popular across the world, including Pakistan, which stands among the top countries providing talented human resources in high demanding fields.
Pakistani professionals working remotely for foreign employers did not only make it to third place in the world, but they have been recognized with handsome raises in salaries from their companies, according to a survey released by San Francisco-based hiring company, Deel.
Salaries of Pakistanis hired for remote work by foreign employers are among the world’s fastest rising, according to the “State of Global Hiring Report 2021” produced by San Francisco-based Deel.
Salaries rose the fastest for international online hires in Mexico (57 percent), followed by Canada (38 percent), Pakistan (27 percent), and Argentina (21 percent). Salaries for global hires from India rose by 8 percent, the Philippines by 7 percent, and Russia by 4 percent. Philippines, India, and Pakistan are the top three countries in the Asia Pacific region where people were hired through Deel.
Deel’s report did not disclose the exact salaries paid in Pakistan after the 27 percent pay hike. The top roles hired through Deel include software engineers, account executives, quality assurance engineers, product designers, and consultants.
The pandemic and recent advances in communications technology are helping globalize the labor market for talent, creating new opportunities for people in developing nations to work remotely at higher wages for global companies.
Deel has over 250 legal, accounting, mobility, and tax experts as partners. The company allows any business to create, sign, and send compliant localized contracts and pay teams in more than 120 currencies with just a click, according to its latest report on global hiring. It allows contract employees to withdraw a percentage of or their entire paychecks in cryptocurrency — Bitcoin, Ethereum, Solana, Dash, and USDC.
Pakistanis Are Among Highly Paid Freelancers
A global survey conducted by Payoneer in 2019 showed that Pakistani women freelancers were earning $22 an hour, 10 percent more than the $20 an hour earned by men. While Pakistani male freelancers’ earnings are at par with the global average, Pakistani female earnings are higher than the global average for freelancers.
The digital gig economy is not only helping women earn more than men, but it is also reducing barriers to women’s labor force participation in the country. The survey also concludes that having a university degree does not help you earn more in the growing gig economy. The survey was conducted in 2015.
An average Pakistani freelancer working 34 hours a week at $20 an hour earns $34,000 a year, or nearly 6 million Pakistani rupees a year, a small fortune for a young Pakistani. This is one of the upsides of the online global labor marketplace for skilled young men and women in developing nations like Pakistan. Sometimes freelancing experience leads to tech startups in Pakistan. The year 2021 was a banner year for tech startups in Pakistan.