Vangst has released its annual Cannabis Salary Guide, offering fresh insights into hiring plans and salary data.
Three major themes emerged from the survey of over 1,000 employers and cannabis workers:
- A hiring revival is anticipated later in 2024, with 86% of surveyed cannabis companies planning to expand hiring in core areas.
- High-value employees experienced significant pay increases, with top-end salaries rising by 4.7%, outpacing the 4.1% average increase in non-cannabis industries.
- Talent mobility remains a challenge, with many cannabis employees seeking career advancement opportunities, leading to increased job transitions within the industry.
Vangst Founder and CEO, Karson Humiston, anticipates a reversal of the downsizing trend experienced in 2022 and 2023. "We expect 2024 to mark a return to hiring and investment in our industry's greatest asset: our people," said Humiston. "Talent and expertise are more valued than ever before."
Even amidst the turmoil of 2023, cannabis salaries saw a higher growth rate compared to non-cannabis industries. Nearly 90% of surveyed companies plan to hire in 2024, with two-thirds of retail companies preparing to hire five or more employees in the coming months. Over 1,500 positions are posted on Vangst every month, showcasing abundant opportunities.
The survey highlights the increasing importance of relevant cannabis industry experience, with 63% of hiring employers citing it as their top criterion. Surprisingly, job candidates prioritize "greater career development opportunities" over increased benefits in their next cannabis industry role.
Click here to read the 2024 Salary Guide.
For more information:
Vangst
www.vangst.com