image sourced from original article at Israeli technology companies are increasingly shifting hiring to lower cost markets such as Eastern Europe, India and Latin America as the strong shekel drives up domestic employment expenses. Executives say exchange rate changes have significantly altered budget assumptions, making local engineers far more expensive than originally planned.
One senior leader at a major cybersecurity firm noted that budgets based on a weaker exchange rate are now well off target, while additional costs such as office rent and property taxes have also risen sharply. As a result, Israeli engineers have become about 20 percent more expensive than their American counterparts due solely to currency movements.
The combined pressure of currency strength and rising overhead is prompting firms to reconsider where they build engineering teams, accelerating the trend toward remote hiring in more affordable regions.
