What do Technology Jobs Pay?
The US Bureau of Labor Statistics (BLS) publishes employment data based on the Occupational Employment Statistics (OES) survey, which looks at the base wage and salary employment opportunities across the country. Unfortunately, this survey doesn’t break out data about IT jobs but contains other tech-related information. Take, for example, its findings on average technology salaries across the country. What do technology jobs pay? According to the BLS, not much in some parts of the country, but quite a bit in others.
A new survey of tech salaries
A recent survey of technology jobs pay has revealed the average tech salary for companies worldwide is $112,665. That’s nearly three times the global average salary of $41,869. Even better, technology professionals have an opportunity to earn significantly more through promotions and bonuses. Of those surveyed, 25% reported an increase in compensation to as much as 30% due to a promotion or performance bonus at their current job. And if you’re on the lookout for work, there are a lot of opportunities out there. For example, 73% of companies reported hiring for full-time positions in 2017, with over half indicating they were looking to hire multiple people over the next six months.
A look at job titles and salaries
The report shows over a hundred job titles are in the technology field. This makes sense because the use of new technologies is constantly changing, and thus, so are the jobs. From cybersecurity engineers to web developers, these occupations offer salaries ranging from $35,000 to $135,000 annually. Other noteworthy careers include cloud infrastructure architects and software developers with average annual salaries of $118,00-$127,000 and $109,000-$120,000, respectively.
Each year there are always some tech jobs with higher pay than others, mostly due to demand for certain skill sets like cybersecurity experts or data analytics professionals. The following table lists which industries are looking for these particular skills and what they’ll be willing to pay.
Numerous occupations can make you a decent salary in technology. But one thing is for sure: you have to work hard and put yourself out there because it’s not an easy field to get into. However, once you’re in, your opportunities to advance are endless, as many companies are willing to invest time and money in their employees’ training and development. And don’t forget about job satisfaction! You’ll likely be amazed at how amazing it feels to create something from scratch or fix a problem using software or coding.
A look at salaries by experience level
The demand for a highly skilled and educated workforce has never been greater in today’s competitive and fast-paced business world. Unfortunately, fewer people are enrolling in math, science, engineering, or computer science than ever before, and there is a shortage of tech professionals across all sectors. Fortunately for those considering entering the profession now or are already established computer professionals looking to switch jobs, salaries in this field are among the highest available!
It’s important to remember that the difference between an engineer with five years of experience versus 10 years can make a significant difference in salary depending on their expertise. However, it’s not just about how many years you have under your belt. It’s also about where you’re working- salaries can vary greatly depending on location. For example, the Northeast Corridor has traditionally been known as one of the highest-paying regions nationwide. In contrast, states like Alabama, Arkansas, Louisiana, and Mississippi typically rank among the lowest-paying states regarding engineering wages nationwide.
Ways to boost your salary
There are many ways to boost your salary and increase what you make per hour. One way is by getting better at your job. As a tech worker, you can always further your knowledge of the newest developments and technologies by reading tech blogs, attending training sessions, or watching tutorials on Youtube.
Another way to get a raise is by identifying the opportunities for advancement that arise from time to time. When these appear, do not hesitate to apply for them. These may be formal requests through HR, but they may also be informal requests from your supervisor. It’s worth the chance if it could mean earning more money. Finally, some jobs have higher salaries due to specific skills that need not be learned: data analytics positions usually require advanced degrees in mathematics or statistics and their corresponding fields. If you don’t have this degree, it would likely take years of additional schooling before being eligible for one of these positions- unless you’re fortunate enough to find an employer who will pay for your education as part of their hiring package!