That doesn't seem like it would work. Isn't it basic supply and demand dynamics? If people can work remotely in London from their home elsewhere the supply of available Devs for London companies has increased. They don't need to offer the same full salary any more because they'll have lots of choice to offer less, or give it to someone else.
You can't just avoid supply & demand dynamics by saying everyone should just hold out until they get a higher offer. As a non-London dev myself I can tell you I'd snap up a remote job for a 20% payrise, and I suspect most would. Your suggestion of only taking the full on site salary only works if everyone does it, and most will take lower. It's a prisoners dilemma kind of problem, if we all agreed to hold out for higher salaries we would all benefit, but for each individual it makes sense to defect and take lower because if you don't, someone else almost certainly will. The salary will reach an equilibrium where supply at that price matches demand.
Also, no offense intended about the numbers ;-). I mostly just made those numbers up with no bearing on reality. I'm actually more northern myself, and I'd say average senior dev salary here is probably around £50-60k. I don't really have any idea about equivalent London salaries.
But if a dev working up north for £50k takes a remote job from London paying £60k that would normally have paid £100k for someone local, they are getting something better and the company are getting someone cheaper. Doesn't this drive London salaries down because all the local people now have to complete with remote people willing to take less?
So yes it increases salaries in some places, but decreases them in the headline areas where they were highest to start with. Remote work should be a force to move everything to the mean, not just a force for increasing salaries.
Does anyone have any info/data/anecdotes for the UK job market. (or infact any non-US market)
My story (hence the throwaway account)... Last year we got no pay rises and were told "no increases this year because covid uncertainty". This year it's a rather megre 2% percent that doesn't even beat inflation, even more so when viewed over two flat years.
I'm obviously looking around and can likely get some small increase, but I'm not seeing the crazy increases or behaviour this article talks about.
The whole remote work move also seems like it would apply downward pressure to some of the top locations. For example I can now compete for remote jobs based in London and would be quite happy being paid a lot less than a typical local London salary given I live significantly further north where salaries are much lower. And potentially if any US tech firms are open to remote workers from the UK they'll find they can get top quality devs at a fraction of the price. So why is remote work being blamed for driving salaries up, shouldn't it have opened up the talent pool for hiring companies just as much as it's opened up the potential choice for applicants.
It feels like the US job market is so hugely skewed in comparison to the rest of the world that it's slightly insane.
You can't just avoid supply & demand dynamics by saying everyone should just hold out until they get a higher offer. As a non-London dev myself I can tell you I'd snap up a remote job for a 20% payrise, and I suspect most would. Your suggestion of only taking the full on site salary only works if everyone does it, and most will take lower. It's a prisoners dilemma kind of problem, if we all agreed to hold out for higher salaries we would all benefit, but for each individual it makes sense to defect and take lower because if you don't, someone else almost certainly will. The salary will reach an equilibrium where supply at that price matches demand.
Also, no offense intended about the numbers ;-). I mostly just made those numbers up with no bearing on reality. I'm actually more northern myself, and I'd say average senior dev salary here is probably around £50-60k. I don't really have any idea about equivalent London salaries.