Image: vdovychenkodenys/Adobe Stock Even with the strong possibility of an economic downturn, the typical income for U.S. tech experts is as soon as again over the six-figure mark, according to Dice’s 2023 Tech Income report. This indicates that tech pros with specialized abilities are still highly in demand.
A general dip in hiring triggered by an economic crisis “would not always have an impact on core tech functions, offered the importance of these capability in running company operations, protecting crucial data and continuing digital change efforts,” the newly-released report kept in mind.
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Greater discontentment with wages
In 2022, the average U.S. tech salary increased by 2.3% to $111,348. At the same time, participants suggested greater frustration with their wage compared to 2021, with almost half (49%) thinking they are underpaid.
“Combined with the 52% who are most likely to change companies within the next year, you have a double-edged sword for companies: More knowledgeable tech skill is readily available, but retention will be even more hard,” the report stated. “Revealing appreciation and value to tech specialists stays a crucial to retention, throughout all industries and roles.”
Highest-paying tech positions
Similar to previous years, IT management including CEOs, CIOs and CTOs saw the largest wages in 2022, making an average of $164,814.
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“That’s a whopping 8.4% boost from 2021, and hints at how many business, their spending plans flush with make money from the previous few years, amply rewarded their executives,”the report stated.
Tech experts with extremely specialized skills did nearly too last year, specifically in roles that affect company strategies and tech stacks. This consists of:
- Solutions designers, with a typical wage of $155,934.
- Principal software engineers with an average wage of $153,288.
- Systems architects with an average wage of $151,364.
Cybersecurity engineers, cloud designers and program analysts/managers likewise earned significant wages, the report stated.
Tech skills commanding the greatest salaries
Earning some of the highest tech incomes this year were data-related tech abilities such as:
- Elasticsearch ($143,619).
- Apache Kafka ($142,764).
- Teradata ($141,515).
- Redis ($140,290).
“For companies that need extremely specialized tech specialists, such talent will continue to come at a premium; the expenditure is most likely to be worth it, nevertheless, considering how essential things like data management and security have actually become to the success of a lot of organizations,” the report observed.
Tech cities and hubs with the highest wages
While the total average tech salary throughout the nation didn’t experience much modification in between 2021 and 2022, there were some considerable shifts when taking a look at wage by location, the report said.
The leading 5 cities for typical tech wages were:
- Silicon Valley.
- Boston.
- Seattle.
- Portland.
- New York City City.
“Modern incomes are definitely no longer limited to the coasts, as all of the leading 25 cities for tech payment boast an average wage [of] over $100,000, and these locations are spread throughout the country,”the report specified. “The average development in the leading 25, however, was 4%, given that there were a few decreases and lots of modest year-over-year boosts.”
At the city level, the hubs with the greatest wages saw continued tech salary development in 2022. For example, Tampa, FL (+19%), Portland (+16%) and Charlotte, NC (+11%) all experienced double-digit development in incomes during the year, with others in the top 10 revealing more modest gains, according to the report.
Outside of the more established tech hubs, there was also significant salary growth in locations including Columbus, OH, where average tech salaries grew 16% year over year, and Phoenix, AZ, where salaries grew 26%.
Top tech incomes by state
At the state level, Massachusetts took the top area in the highest average tech salary at $128,690. Rounding out the leading 5 were Oregon, California, Washington and Connecticut, all with average incomes of $120,000 and above.
They were followed by New Jersey, Colorado, Virginia, Arizona and the District of Columbia. Significant states outside the leading 10 were New York at No. 15, with an average tech income of $109,901 and Texas at No. 16 with an average tech wage of $109,819. Arizona, led by significant gains in Phoenix, had the highest state growth at 20%, followed by Oregon at 12%.
Tech incomes by industry
In 2022, developed markets showed that they are prepared to spend for talent with the ability and experience they require. Consulting ($131,995), medical and pharmaceutical ($129,118) and banking and finance ($128,571) industries each made the leading five, alongside the ranks of conventional tech industries, software ($124,071), and aerospace and defense ($121,560).
On the flip side, retail and e-commerce and advertising and marketing all experienced a double-digit percentage drop in average tech salary in 2022.
Better benefits and flexible work choices are crucial
What do tech specialists desire? Much better work-life balance through advantages, according to the report.
“Companies that can provide tech specialists remote and flexible work schedules, along with motivate them to take their allocated holiday days, will continue to win talent,” the Dice report said.
Forty-five percent of tech expert participants stated they planned on utilizing all their getaway days in 2022, up from 39% in 2021. Further, in addition to ranking remote work and versatile work schedule choices as critically important non-traditional advantages, there was a considerable year-over-year boost in how tech experts ranked the importance of health cares as an advantage: 49% in 2021 to 58% in 2022, the report noted.
Survey approach
Dice stated this study was administered online amongst its signed up task hunters and site visitors in between Aug. 16, 2022 and Oct. 17, 2022. A total of 7,098 finished studies are represented in the report, and this number excludes jobless respondents, students, insufficient responses and those who work outside of the U.S.
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