Forging a successful career in technology requires keeping your finger on the pulse of the scene, especially salary trends.
This information helps you understand whether or not your current career path provides a chance for higher pay. If not, maybe you need to look for another IT role with better opportunities for financial growth?
What follows is a high-level overview of where tech salaries are headed in the current year. Maybe you need additional education or a few certifications to qualify for the job of your dreams? Use this helpful information to plot an IT career path to success!
2022 Tech Salaries Continue Their Upwards Trend
The current IT job market remains competitive, with certain roles especially high in demand. These include cybersecurity engineers, Cloud architects, mobile developers, and data scientists. All told, this demand caused the overall IT salaries to continue to trend upwards in 2022.
In fact, a recent study noted tech salaries for experienced professionals increased by nearly 10 percent in 2021. Notably, the number of jobs in the American tech sector stands at 4.76 million, a historic high. Over two-thirds of surveyed companies plan on hiring up to 50 programmers in 2022.
This growth also highlights the aftereffects of the COVID-19 pandemic, as the competition for talented professionals grows. Notably, only 40 percent of tech employers successfully filled their open positions last year. Not surprisingly, businesses ended up making higher offers to candidates as a result, helping to drive this salary growth.
Companies are Offering Higher Bonuses
Another artifact of the strong competition for IT professionals is an increase in bonuses. Remember, these make up a critical component of your overall pay. In fact, companies now offer five times as many sign-on bonuses to successfully make that hire. Take advantage of this fact when interviewing.
Remote Working Becomes Normalized
COVID-19 also caused a large increase in the number of technology professionals working remotely. In fact, the same study reported a massive 357 percent increase in the number of remote IT jobs. As such, companies increasingly base their salary offers on the open position as opposed to location.
This provides a boon for those in-demand tech job roles noted earlier. Technology professionals with the right experience living in lower cost-of-living areas now enjoy a chance for high-salary job opportunities.
How’s Your IT Career Going?
If you want to take your tech career to a higher level, connect with the experienced recruiters at The CERES Group. As one of the top IT staffing agencies in Boston, we know the companies looking for exceptional candidates. Schedule a time to discuss your current career path.