In its 19th annual Tech Salary Report, Dice
predicts major shifts in 2024 as technology professionals eye new
opportunities for growth
In a year characterized by ups and downs for those in tech, one
thing remained flat in 2023: the average salary for technology
professionals. In its 19th annual Tech Salary Report, tech career
marketplace Dice (a DHI Group, Inc. brand; NYSE: DHX) reports an
average tech salary of $111,193 in 2023 (compared to $111,348 in
2022).
“This plateau in salary growth represents a correction more than
a red flag, especially given the huge surge we saw in compensation
coming out of the pandemic,” says Dice CEO Art Zeile. “Most
companies are being very cautious about expenses in general, and
most companies’ business model revolves around people. So, when
they think about managing their expenses carefully, it means
managing what they’re doing to compensate their people; but
compensation is just one component of an employment contract.
Benefits are another component technology professionals prioritize,
as are the ability to work from home and flexibility in
general.”
Most Tech Professionals Are Interested in Change
Another key finding in this year’s Tech Salary Report is that
93% of employed technology professionals are either looking for a
new job or willing to hear about a relevant new opportunity.
That is likely driven by a decline in salary satisfaction: In
2022, 30% of tech professionals were dissatisfied with their
salaries, and that rose to 35% in 2023. Not surprising, considering
the percentage of tech professionals who reported their salaries
had decreased in 2023: 12%, double the percentage who reported a
decrease in 2022 (6%).
Dice predicts that 2024 will be a year of significant turnover
as tech professionals entertain new roles, especially ones in
non-tech industries that may provide more stability and security.
The aerospace and defense industry had the highest average salary
for tech professionals in 2023 ($130,574), along with the
second-fastest salary growth rate (7.4%).
Rounding out the top five industries for highest average tech
salary were:
2. Software ($130,559) 3. Medical /
Pharmaceutical / Biotechnology ($128,141) 4. Banking / Finance
($126,226) 5. Consulting ($125,160)
For recruiters outside the tech industry who are responsible for
attracting and hiring skilled tech talent, now is the time to
source and land the talent they’ve been seeking for years.
Tech Leaders Aren’t the Only Workers With High Salary
Growth
As with previous years, companies are still willing to pay top
dollar to tech professionals who can use their combination of
technical and soft skills to guide teams in driving significant
change: CEO / CIO / CTO positions, as well as solutions architects,
principal software engineers and program analysts.
While these positions command the highest tech salaries, they
weren’t necessarily the ones that saw the most growth in 2023. The
roles with the fastest growth in salary were:
1. Systems Administrator (+11.2%) 2. Software
Developer (+6.5%) 3. Program Analyst / Manager (+6.1%) T4. Help
Desk Technician / Computer or Desktop Support Specialist (+4.8%)
T4. .NET Developer (+4.8%)
Help desk technicians have seen significant salary increases in
the past two years (+6.9% in 2022, and then another 4.8% in 2023),
likely due to the re-emergence of in-office work after the
pandemic. While the average salary of $58,549 is well below the
overall average tech salary, these employees are critical in
solving problems for remote, hybrid and full-time office
workers.
Mastering Key Competencies Elevates Tech Professionals’
Opportunities
Over the past few years, Dice has repeatedly seen data-related
skills top the estimations of salary and demand; from small
businesses to large enterprises, there’s a rising awareness that
data means the difference between failure and market-beating
success.
The top-paying skill for technology professionals in 2023 was
Service Oriented Architecture (SOA), with an average salary of
$137,917. However, that was a decrease of 3.4% from 2022. Skills
that did have year-over-year salary growth include VSAM (+9.6%),
Parallels (+9.1%), SQLite (+8.9%), MS Dynamics (+7.0%) and VoIP
(+6.7%).
For technology professionals who want more opportunities and
even a measure of job security, mastering complex skills — and
keeping them up to date — can be leveraged for more advanced roles
and higher salaries.
Strategic Perks Bridge Gaps in Tech Talent Retention
Health insurance, paid vacation, and 401(k) matching or a
pension top the list of must-have benefits for technology
professionals; unsurprisingly, remote and flexible schedule options
are also high priority. These benefits should be a key part of
company packages if they want to be successful in filling their
open tech roles.
Secondary benefits don’t hold as much importance, but they do
offer companies who can’t compete on salary a strategic way to
differentiate themselves. While they don’t rank as high as the key
benefits previously mentioned, Dice data shows offerings such as
stock programs, work-from-home stipends, wellness programs and
fitness reimbursements have continued to grow in popularity in the
past few years.
These secondary benefits are also areas where Dice has found the
largest gaps in what benefits employees want versus what benefits
employees have. For example:
- Work-from-home stipend: 53% of tech professionals consider it
important, but only 19% of employers offer it.
- Stock programs: 54% of tech professionals consider it
important, but only 25% of employers offer it.
- Training and education: 67% of tech professionals consider it
important, but only 43% of employers offer it.
“There’s no question that, in 2023, we saw the advent of
generative AI. What companies should be thinking about in terms of
benefits is helping their technology workforce to have the relevant
skills — skills associated with data science, artificial
intelligence, generative AI — for the future,” Zeile says. “Most
non-tech companies are focused on their primary occupational
cohort. If you’re working for a healthcare company, they are
focused on doctors and nurses, as opposed to the technology workers
and their distinct needs. But most technology workers think about
their careers as being an accumulation of the right tech skills to
be relevant in the future, so the best thing those companies can do
is focus on training and education as a benefit to attract and
retain tech professionals.”
2024 is a Year for Opportunity and Adaptation
Despite initial setbacks in tech, a recession was averted in
2023 and tech unemployment remained low, indicating continued
demand for skilled professionals. As we navigate the dynamic
landscape of tech in 2024, both tech professionals and employers
must adapt to seize emerging opportunities.
One of those large opportunities is artificial intelligence. The
continued importance of AI will fundamentally change how most tech
professionals do their jobs, automating many processes and even
creating new positions, such as chatbot building and prompt
engineering. However, these tech professionals will need to embrace
cutting-edge technologies and continue to upgrade their skillsets
to stay relevant and command increasingly higher pay.
In a year poised for economic and technological advancement, the
Dice Tech Salary Report is a comprehensive analysis of salary
trends, benefit differentiators and regional shifts that equips
tech professionals and the companies who rely on them with the
insights needed to thrive in the ever-evolving world of tech.
Methodology
Collection of Data
The 2023 Dice Salary Survey was administered online by Dice.com
among registered Dice job seekers and site visitors between August
30, 2023, and October 31, 2023. Respondents were invited to
participate in the survey in two ways: 1) via an email invitation
to Dice’s registered (searchable) database members and 2) through a
notification via website banner on Dice.com user profile page. A
total of 6,166 completed surveys are represented in this report
(this number excludes unemployed respondents, students, incomplete
responses and those who work outside of the U.S.).
Data Weighting
In each year of the survey, the data are reviewed to assess the
need for data weighting to ensure that the overall data properly
reflect the universe of Dice.com job seekers. Examination of the
data from 2023 showed a weighted data adjustment was needed for two
variables — gender and age. The impact on the mean salary results
from the weighting for the 2023 data increased the average salary
by +$7,898.
Job Posting Data
Job posting data was gathered by Dice’s partner, Lightcast
(formerly Emsi Burning Glass), which has a database of more than 1
billion current and historical job postings worldwide. Data was
used from Lightcast to complete city, occupation and skill
callouts.
About Dice
Dice is a leading tech career hub connecting employers with
skilled technology professionals and providing tech professionals
with career opportunities, data, insights and advice. Established
in 1990, Dice began as one of the first career sites and today
provides a comprehensive suite of recruiting solutions, empowering
companies and recruiters to make informed hiring decisions. Dice
serves multiple markets throughout North America. Dice is a DHI
Group, Inc. (NYSE:DHX) brand.
About DHI Group, Inc.
DHI Group, Inc (NYSE: DHX) is a provider of AI-powered career
marketplaces that focus on technology roles. DHI’s two brands, Dice
and ClearanceJobs, enable recruiters and hiring managers to
efficiently search for and connect with highly skilled technology
professionals based on the skills requested. The Company’s patented
algorithm manages over 100,000 unique technology skills.
Additionally, our marketplaces allow tech professionals to find
their ideal next career opportunity, with relevant advice and
personalized insights. Learn more at www.dhigroupinc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240130482578/en/
Media Contact Mari Shirley
dicemedia@dice.com (303) 267-4602 x664602
DHI (NYSE:DHX)
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