In its Renewable Energy Salary Snapshot 2022 report, LVI found a “visible spike” in the annual base salaries ranging between $15-20m and over $40m. LVI noted the former could be represented by senior position salaries, whilst the latter may be for executive positions.
“We expect that the majority of the hiring this year will be focused on senior to executive positions,” the report read in part.
LVI said data gathered on energy storage is not as extensive, considering the industry is relatively young. But available data showed that 53% of professionals in the industry saw their salaries rise; whilst 60% were entitled to a bonus this year.
Amongst the benefits granted to employees in the industry are housing allowance, travel allowance, laptop or phone, and dental and medical coverage.
Around 41% were also entitled to parental leave, 32% were not, whilst the remaining 27% were unaware. Most parental leaves last between 0-14 days (78%), and 15-30 days (22%).
The majority, or 82%, are also allowed to work flexible hours in their current roles.
“Those embarking on new career opportunities within start-ups in the energy storage systems industry, whether at entry or senior level, can expect to be pioneers within the exciting new space, but perhaps should not expect to receive high bonus rates within early stages of development,” LVI said.
It added the majority of startups will likely have a “strong focus” on modern requirements of the talent pool, such as parental leave and flexible working.