Latin America increasingly stands out for its growing recruitment of tech talent. These are the three principal variables to recruit IT Talent in Latin America for your company when you are hiring: First, cost. Second, quality. Third, work culture.
Of course, recruiting is complex and has many things to take into account. But let’s be honest, the recruiter uses all those metrics to have the best talent with one goal in mind: the company’s success. Everything turns around the purpose of having a winning company.
So, those variables of quality, cost, and work culture are the basis of success when a talent manager is recruiting. Combining them when hiring IT talent in Latin America is an excellent option for recruiters. For less money companies can find highly skilled IT professionals who are hungry to succeed and perform the best tasks.
There are more than 26 billion Internet-connected devices and 4 billion Internet users around the globe. Today the Internet is one of the most important technologies with the power to make huge impacts on the economy and deep changes in social structures.
As the World Economic Forum has noticed, we are passing from the Third Industrial Revolution to the Fourth Industrial Revolution. The First one began with the steam machine, the Second with the advance of science to apply to production, and the Third with digitization. Now, the Fourth Industrial Revolution involves “artificial intelligence, genome editing, augmented reality, robotics, and 3-D printing”.
Everything implies technology in the process of offering a product or service today. It is then understandable why Information Technology, commonly called IT, is imperative now. According to Colorado State University, there are typically five areas where IT workers perform their activities, and each one requires its responsibilities.
Let’s see the costs of recruiting IT talent in Latin America
There are computer programmers, who write and test the code for applications and software. According to the U.S. Bureau of Labor Statistics, the average annual income in Unites States for a computer programmer who “writes, modify, and test code and scripts that allow computer software and applications to function properly”, was $93,000. In comparison, a computer programmer earns a yearly average of USD 9,240 yearly in Colombia, USD 11,534 in Mexico, and USD 14,400 in Argentina.
Thereby, you can see the huge advantage of hiring IT talent in Latin America when it comes to cost and savings. Recruiting skilled tech talent in Latin American countries can save you thousands of dollars every month. And if you hire a complete team, you can save even millions.
Computer Programmers Median Annual Wage- USD
Following the same publication from CSU, there are also Computer systems analysts. Those are more focused on making the systems “more efficient and effective”. The U.S. Bureau of Labor Statistics reports that the annual average wage for computer system analysts was $99,270. It is important to know that “employment of computer systems analysts is projected to grow 9 percent from 2021 to 2031, faster than the average for all occupations”. So companies will require many of these IT specialists during the next decade, and Latin America can provide many of them for the market. Comparing the same yearly pay for computer analysts in the United States, you can see that in Colombia the payment of the same skilled professional is USD 9,613, USD 11,064 in Argentina y USD 11,016 in Mexico.
Computer System Analysts Median Annual Wage- USD
Other IT specialists are computer network architects. Those “design and build data communication networks, including local area networks (LANs), wide area networks (WANs), and Intranets”. Its demand is also projected “to grow 4 percent from 2021 to 2031”.
The last two roles in the field of technology are Information Security Analysts and Computer and information systems managers. The security analysts will be in demand, for sure, with a projected growth of 35% until 2031 and a median annual wage in United States of $102,600. Protection and security are crucial to safeguard valuable and sensitive data and prevent cyber attacks. And with an average annual income of $159,010, Computer and information systems managers will be in high demand, growing 16% until 2031.
And what about the quality of IT recruitment in Latin America?
Of course, when hiring talent costs are one important variable, but not the only one. What about quality? Latin America has many universities among the best 200 institutes in the world. The Catholic University in Chile, the University of Sao Paulo in Brazil, and the UNAM of Mexico are one of the best universities in the world.
Also, other countries have excellent institutions with a high ranking around the world. The University of The Andes, Xavierian University and National University in Colombia, the Monterrey Institute of Technology in Mexico, or The University of Buenos Aires in Argentina are institutions that prepare the most qualified engineers, programmers, and IT talent in Latin America. With such a high level of education, it is easy to understand why Latin America’s human talent is so competitive. Companies around the world can leverage this high-quality workforce to improve their corporate processes.
In 2022, Chilean technology companies achieved two first-place awards in the US Army International competition in the area of biosciences. The food delivery app Rappi in Colombia is a startup company valued at more than five billion dollars. Habi, a tech company to buy and sell homes just received 200 million dollars in investment in 2022. And the software company Mosyle in Brazil got USD 196 million in investment. And last but not least, the Mexican retail company Justo received USD 152 million. All this success was possible thanks to the great quality of developers, programmers, and IT talent in Latin America.
Work culture… when people are focused on winning while smiling all the time
Two things are true in Latin America, for sure. Workers are avid to succeed, and second, you do not see stressful faces, but smiling people all the time. While they are focused on having the best performance, Latin Americans smile a lot and that helps to make the work easier.
The current Minister of Finances in Colombia is Jose Antonio Ocampo. He was the Executive Secretary of the Economic Commission for Latin America and the Caribbean. In an interview, Mr. Ocampo stated with his vast experience that, for example, Colombians had a strong spirit of work, a deep feeling connected to working diligently and well.
Sometimes, sport is a good thermometer to measure the soul of a nation. See the last example of the Argentinian team winning the last Soccer World Cup. There is a strong desire to be the best and to fight to achieve the highest goal. That is something the Latin American workers have deeply internalized.
Of course, speaking about these topics will be a great pleasure in person. Let’s talk about IT talent in Latin America, and the benefits in costs, quality, and work culture for your company. You will leverage great benefits by hiring IT talent in the region, save considerable amounts of money, and improve your company’s performance with the quality of all these amazing workers. Only send us a message to have a video call with the beauty of these mountains in the background.
By: César Salgado