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The average tech salary increased 2.3 percent to $111,348 in 2022, according to the 2023 Dice Tech Salary Report. And, although the spate of recent layoffs may have shifted the job outlook in traditional tech hubs, other areas are seeing strong growth, and experienced tech professionals are still in high demand.
In this article, we share highlights from the Dice report, focusing on general trends.
Looking for Change
Despite the average salary increase mentioned above, the report says that 30 percent of tech professionals surveyed were “either somewhat or very dissatisfied with their salaries in 2022, up from 28 percent in 2021. Furthermore, nearly half (49%) of respondents “believe they are underpaid relative to other people with the same occupation/skill level.”
In addition to higher compensation, tech pros are seeking better benefits and more growth opportunities:
- Higher compensation or a promotion (76%)
- Improved health or retirement benefits (26%)
- More training or certifications (23%)
- Remote work options (20%)
- Better work/life balance (19%)
“Combined with the 52 percent who are likely to change employers within the next year, you have a double-edged sword for organizations: More skilled tech talent is available, but retention will be even more difficult,” the report states.
Industry and Location
“In 2022, established industries proved that they are prepared to pay for talent with the skill sets and experience they need,” the report notes, with the following industries showing the highest averages:
- Consulting ($131,995)
- Medical/Pharmaceutical/Biotech ($129,118)
- Banking/Finance ($128,571)
- Software ($124,071)
- Aerospace and Defense ($121,560)
Location also makes a difference in terms of compensation, and the report lists the following US cities with the top average salaries:
- Silicon Valley, CA ($144,962)
- Boston, MA ($130,399)
- Seattle, WA ($129,456)
- Portland, OR ($127,734)
- New York, NY ($121,556)
We’ll look at how salaries relate to specific tech skills in an upcoming article.
Learn More
Global Cybersecurity Workforce Gap Continues to Grow
IT Career Trends for 2023: Focus on Skills
Lack of Open Source Talent a Top Challenge for Organizations
Top Tech Jobs and Skills According to Dice 2022 Salary Survey
Why People Leave Jobs and How to Get Them to Stay
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