Tech Wages Grew, but Not Enough to Keep Top Talent

By Dennis McCafferty
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    The average tech professional makes $89,450 a year, up only 2% from 2013.

While compensation for IT professionals rose in 2014, the increases amounted to a minor bump-up for the average employee, according to a recent survey from Dice.com. The findings reflect a half full/half empty state for the industry: Yes, most tech workers received raises, but many had to change employers to do so. And more are receiving bonuses. However, the vast majority of IT pros do not get bonuses, and those who do are seeing only a slight increase in the amount. So IT managers and executives should not be surprised to find growing dissatisfaction about compensation among their staff members, along with the loss of top-notch talent to competitors when those workers leave to get better compensation packages. "As demand for technology professionals rises and highly skilled talent is harder to find, the pressure is being reflected where it counts: paychecks," says Shravan Goli, president of Dice.com. "Still, tech pros are less happy with their earnings, signaling to companies that in order to recruit and retain the best candidates, offering more will be necessary." More than 23,400 tech employees took part in the research.

This article was originally published on 2015-02-26
Dennis McCafferty is a freelance writer for Baseline Magazine.
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