U.S. Tech Salaries, Bonuses Rise, Satisfaction With Compensation Declines
According to a Dice Tech Salary Survey for the year 2014-2015, technology pay in the United States has increased two percent from 2013, with tech professionals raking in $89,450 on an average annually.
While more than half (61%) of these professionals claimed that the hike in salary was on a merit basis, another 25 percent credited receiving higher wages to changing employers within a year.
Meanwhile, 11 percent of technology professionals cited internal promotions as the reason for receiving fatter paychecks in the year 2014. Only two percent of them professionals earned higher salaries by working overtime.
A noteworthy rise of 19 percent was also seen in the salaries of technical recruiters, with their average annual income increasing to $81,966 in 2014. This significant jump has managed to emphasize the importance of recruiting tech professionals.
Besides the increase in salaries, a two-percent hike in the bonuses of tech professionals was also noticed in 2014. An average of $9,538 bonus was earned by them as a part of their compensation, while 37 percent of them agreed on receiving bonus in the year 2014.
Though a slight increase in salaries was seen, the satisfaction with the paycheck declined. In 2014, 52 percent of tech pros were satisfied with their earnings, as compared to 54 percent in 2013. If statistics are to be believed, satisfaction with salaries continues to dip every year since 2012.
According to the President of Dice Shravan Goli, high salaries are a reflection of the ever-growing demand for tech professionals. Still, they are unsatisfied with their wages, signaling to companies that offering higher salaries is going to be necessary in order to recruit and retain the best candidates.
Overall, more than half of tech professionals – up to 67 percent – are confident enough on the scope of finding a favorable new position in the year ahead. Around 37 percent of them are also looking forward to changing employers to seek better pay or better conditions.