IT Pros See Salaries, Bonuses Continue to Rise

 
 
By Nathan Eddy  |  Posted 2016-01-27 Print this article Print
 
 
 
 
 
 
 
dice and it salaries

Average salaries for tech professionals reached the six-figure mark in seven markets for the first time in the annual Dice study.

Average technology salaries in the U.S. saw the biggest year-over-year leap ever, up 7.7 percent to $96,370 annually, according to the annual salary survey by Dice, a careers site for technology professionals.

The wage hikes paint a picture of an overall solid environment for technology professionals with 62 percent of workers earning higher salaries in 2015.

Almost half of respondents reported a salary increase as a result of upward mobility at the same company, with 38 percent receiving a merit increase and 10 percent receiving an internal promotion.

The second most common reason for a rise in salary was a result of the professional changing employers (23 percent).

Bonuses and contract rates also rose from 2014, and tech salaries in seven metro areas reached six-figures for the first time since the survey began more than a decade ago.

Average salaries for tech professionals reached the six-figure mark in seven markets for the first time in the annual study.

Already posting average salaries over $100,000, tech pros in Silicon Valley were again the highest paid in the country.

Other top-earning markets spread from coast-to-coast and included a not traditionally recognized tech city, Minneapolis.

"The IT job market is very healthy, not only in Silicon Valley but across the country," Bob Melk, president of Dice, told eWEEK. "Average salaries for tech professionals reached the six-figure mark in seven markets for the first time in our annual study. These other top-earning markets include New York, Los Angeles and Seattle as well as emerging tech hubs like Minneapolis."

The survey also indicated technology professionals are becoming more satisfied with their pay, with 53 percent noting satisfaction compared to 52 percent last year.

In addition, tech professionals’ confidence in job prospects remained high with 67 percent claiming that they could find a favorable new position--more than a third (39 percent) said they intend to change employers in the upcoming year.

"While salary, bonuses and stock options are important, we’ve conducted separate studies that show that perks like unlimited vacation, flex-time and working remotely can help attract top talent," Melk said. "Work-life balance is a priority for many. We found that nearly half of tech employees say they want more of a work-life balance, but that their current job doesn’t allow it."

Contract workers saw a 5 percent rise in hourly compensation, with contractors earning $70.26 per hour, with tech contractors working in industrial/chemical, professional services, healthcare and utilities/energy segments getting paid higher than overall tech contract rates.

"We've seen a continual growth in the average salaries of tech professionals since 2011. That trend will likely continue into the foreseeable future, but as always, this depends on the overall economy and the strength of local tech markets," Melk said.

 

 
 
 
 
 
 
 
 
 
 
 
 
 

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