Tech Professionals See Jump in Salaries, Bonuses, Contract Rates 

02.02.2016
HR & Safety

Average technology salaries in the U.S. saw the biggest year-over-year leap ever, up 7.7% to $96,370 annually, according to the annual salary survey by tech career website Dice.
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.
techsalariesThe 2016 Dice Salary Survey was administered online by Dice.com, with 16,301 employed technology professionals responding between Oct. 6, 2015 and Nov. 25, 2015.
The tech-sector wage hikes paint a picture of an overall solid environment for technology professionals with 62% 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% receiving a merit increase and 10% receiving an internal promotion.
The second most common reason for a rise in salary was a result of the professional changing employers (23%).
Bonuses
Over time, bonuses have become more commonplace in the tech industry.
The average bonus in 2015 was $10,194, a 7% increase from 2014.
In 2015, 37% of technology professionals received a bonus, unchanged from last year but up from 2009 when 24% earned the extra payout.
More experienced tech professionals were more likely to receive a bonus as well as those in the banking/financial, telecom, hardware, entertainment/media, and utilities industries.
Bonuses were not as prevalent with technology professionals who had less than two years of experience.
However, newer tech pros saw rises in their paychecks. Average salary increases were greatest among new technology workers (one to two years’ experience), suggesting there is wage pressure for entry-level technology jobs, and employers are willing to pay for fresh talent.
Contract workers saw a rise (5%) in hourly compensation, with contractors earning $70.26 per hour.

Contract workers saw a rise (5%) in hourly compensation, with contractors earning $70.26 per hour.

Tech contractors working in industrial/chemical, professional services, healthcare and utilities/energy segments were paid higher than overall tech contract rates.
Technology professionals are becoming more satisfied with their pay with 53% noting satisfaction compared to 52% last year.
Plus tech professionals' confidence in job prospects remained high with 67% claiming that they could find a favorable new position. More than a third (39%) intend to change employers in the upcoming year.
Six-Figure Salaries in Top Metros
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.
 

Metro Area 2015 Salary Year/Year Growth
Silicon Valley $118,243 5%
New York $106,263 11%
Los Angeles $105,091 10%
Boston $103,675 7%
Seattle $103,309 4%
Baltimore/Washington D.C. $102,873 5%
Minneapolis $100,379 9%
Portland, OR $100,309 10%
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