Did you know the Ukrainian IT market is valued at $12.74 billion and counts 307,000 IT specialists? 

The war in the country, as well as unstable political and economical situations could be scary. But, in reality, the IT sector here is flourishing. The industry has shown remarkable resilience and growth, with over 5,000 IT job vacancies as of August 2024. 

Read this article and find out:

• Which IT trends do we see in the Ukrainian IT market in 2024? 
• How much do you need to pay to hire Ukrainian IT experts? 
• What are the changes in the labor market? 
• What are the future prospects, and is it worth it to look for IT specialists here? 

Dive in!

IT job market trends Ukraine

The Ukrainian IT market is booming. Despite the Ukrainian-Russian war forcing many businesses to shift to remote work models, problems with electricity, and a significant brain drain, the country still remains one of the strongest in terms of IT services. 

Here is an overview of IT market statistics Ukraine. Just think about these figures!

• There are 307,000 IT specialists in the country
• You can find here 2,150 active IT businesses
• The total economic effect of the country's activity is $12.74 billion

We can also add that the number of IT vacancies is rising. As of August 2024, DOU, one of the most popular platforms for IT recruitment, has more than 5,000 IT jobs. Among the popular categories, there is an increase for:

• Project Managers (+18%),
• PHP (+17%),
• AI specialists 

Interestingly, TypeScript is now the most popular programming language for Ukrainian IT programmers, followed by JavaScript in second place. Mobile developers most often use Kotlin. Swift is less popular — it was chosen by 27%.

The number of vacancies for Node.js specialists is also gradually increasing. In particular, there were 187 offers for them in August 2024, the highest figure in the last two years. In addition, there was a positive trend for C++ specialists in July and August. The DOU notes that such figures are the best since the beginning of a full-scale war.

Salaries

Companies seeking to reduce IT labor costs may find Ukrainian IT specialists to be a valuable asset. The war in Ukraine has led to a decrease in wages and an increase in unemployment, resulting in a highly competitive IT labor market. This forces programmers to continuously learn new skills to stay relevant in the ever-evolving IT industry in Ukraine. 

Scala developers command the highest median IT salary among programmers. Most of them are Senior-level specialists.

IT startups began to receive significantly less ($3338, -$663 for half a year). The median salaries of middles in these companies decreased by $500, to $2,500, and seniors — by $350, to $5,650. Lead+ developer salaries did not change and remain among the highest ($6,000).

The level of English proficiency could also impact salaries.  Many Ukrainian developers possess a very good knowledge of English: 45% rated it as Upper-Intermediate, and another 10% rated it as Advanced. Over the year, the share of specialists who know the language at the Upper-Intermediate level and above increased by 3%.

Experienced developers know English better: among specialists of the Middle level, 43% have an Upper-Intermediate level and above; among seniors — 66%; among specialists of the Lead+ level — already 72%.

Changes of the labor market

With the rise of artificial intelligence and fierce competition, businesses are changing their requirements and expectations. What is demanded now? 

• Platform-specific expertise: Proficiency in major cloud platforms like AWS, Azure, and GCP and cloud computing.
• Infrastructure as Code (IaC): Experience with tools like Terraform or CloudFormation.
• Serverless computing: Knowledge of functions-as-a-service (FaaS) platforms.
• Python: Strong programming skills in Python, the primary language for AI and ML development.
• Machine learning frameworks: Familiarity with TensorFlow, PyTorch, or scikit-learn.

• Cybersecurity: The ability to gather, analyze, and interpret data about cyber threats to protect systems and data.
• Data science: The ability to design, build, and maintain data infrastructure to support data-driven decision-making.
• Data analysis and visualization: Proficiency in tools like pandas, NumPy, and Matplotlib.
• Data pipelines: Experience in building and managing data pipelines using tools like Apache Airflow or Luigi.
• Big data technologies: Knowledge of Hadoop, Spark, and other big data frameworks.
• Data warehousing and data lakes: Understanding of data storage and retrieval concepts.

Ukraine holds second place in the number of AI companies among CEE countries. The number of AI specialists has grown fivefold in ten years. There are more than 240 firms working in the field of artificial intelligence there. The most famous startups are:

• Grammarly
• Preply
• People.io

Prospects for growth

As Ukraine’s economy recovers, the IT sector is expected to benefit from increased demand for technology solutions across various industries. This recovery will likely stimulate new projects, partnerships, and opportunities within the IT market.

The industry has shown great resilience against the backdrop of the war. The volume of deals increased 4.1 times compared to the first half of 2023 — from $68 million to $283 million. Only in 2023, the country attracted $209 million. The following companies raised the largest investments:

• Preply. The company raised $70 million from Owl Ventures, Horizon Capital, and others. 
• Fintech Farm.  The company raised $22 million from Nordstar and others.
• Creatio. This unicorn attracted $200 million.
• GoIT. The company raised about $15 million.

Of course, few IT industry challenges remain, even despite such a positive tendency. 

For example, Ukraine still competes with countries in Eastern Europe and Asia. The political situation remains unstable, and the war in Ukraine causes international companies to hesitate to consider long-term investments. 

Another potential problem is a so-called "brain drain." Many skilled professionals started to seek better opportunities elsewhere due to the war. This "brain drain" and IT relocation threaten to deplete the local talent pool, making it harder for companies to find qualified IT specialists domestically.

Summing up…

Despite the challenges posed by the ongoing war, Ukraine's IT sector remains a beacon of resilience and innovation. The country's developers continue to attract global attention. With a growing AI presence and a thriving startup ecosystem, Ukraine's IT landscape offers promising prospects for both domestic and international companies seeking top-tier talent.

Innovation Feel boasts of our Ukrainian developers. Book a free consultation with Innovation Feel and discover how our programmers can drive your business forward. Hire Ukrainian Talent Today!