SAN FRANCISCO--(BUSINESS WIRE)--InformationWeek, the world’s most trusted business technology resource, today unveiled the InformationWeek 2023 U.S. IT Salary Report: Rising Salaries and Closing the Gender Pay Gap. Despite rising labor costs, economic inflation, and companies making an effort to cut back, the salary outlook for IT professionals is positive. Work-life balance and base pay top the list as what matters most to IT professionals when it comes to their jobs.
More than three-quarters (77%) of IT professionals reported an increase in base salary in 2022. The median salary increased from $125,000 in 2021 to $140,000, a jump of 12%. Sixty-one percent of IT pros are satisfied with their total compensation, and 62% report they are satisfied with their overall job.
The gender pay gap still exists, but both men and women saw an increase in pay. Women’s annual salaries increased 28% from a median of $105,000 to $135,000 in 2022 and men’s pay increased 9% from $128,000 in 2021 to $140,000 in 2022. Fifty-seven percent of IT pros believe there is salary pay parity in terms of race or ethnicity, and 44% say their companies are trying to better support employees of color.
Other key takeaways from the 2023 InformationWeek IT Salary Survey report:
- More than half (58%) of IT pros say they are unlikely to seek employment at another organization in the next year. For those who might look for a new job in 2023, the driving force behind their search would be higher pay (70%).
- More than four in ten (42%) rate their present job security as “very secure,” and an additional 47% say they feel “somewhat secure.” Additionally, 45% say a career path in IT is more secure than other careers.
- Collaborating with internal stakeholders, managing vendors, and aligning business and technology goals are the top skills IT pros need to do their job.
- As IT departments look to automate processes in an effort to save money, it is unknown if AI and other new technologies will result in a loss of IT jobs. The majority (58%) say that training on innovative technologies is valuable to them in developing their careers, followed by training on risk and cybersecurity.
“In spite of the unknowns in the market, the IT pay outlook is rosy for now. Companies are increasing pay as the cost of living increases, and they are committed to advances in pay parity and diversity hiring. Despite witnessing a string of layoffs at tech companies, the majority of IT professionals report positive overall job satisfaction and nearly nine out of ten feel confident with regard to their present job security,” said Sara Peters, Editor-in-Chief of InformationWeek. “It’s difficult to predict what impact generative AI and other new automation technologies will have on IT salaries and hiring patterns. We’ll have to see what next year’s survey results tell us about that.”
InformationWeek surveyed 456 information technology professionals employed full time in the U.S. with questions related to salaries, benefits, and other career issues. Ninety-five percent are steadily employed full time at an organization, and 5% report they are either full-time contract workers or consultants. Most of the respondents work in management roles. Just under half (49%) are from enterprises with more than 1,000 employees, about one-third (32%) are from mid-size companies, and 17% are from small companies of 100 employees or fewer. Respondents come from more than 35 industries including healthcare, financial services, banking, consulting, IT services, manufacturing, education and government.
To download the 2023 InformationWeek U.S. IT Salary Survey report, click here.
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