Cube: Tech salaries elevated in 2021

Even because the COVID-19 pandemic continues, the necessity for tech corporations to retain previous workers and rent new ones has pressured the business to supply extra aggressive salaries.

Sinenkiy/Getty Pictures/iStockphoto

Whereas 2020 was a tricky yr for hiring throughout the tech business as a result of results of the COVID-19 pandemic on the economic system, 2021 confirmed promising development as salaries practically throughout the board rose final yr. Cube has launched its annual wage report within the tech area to help resolution makers in extending presents and assist workers know their worth primarily based on their roles and abilities. The report broke down the developments by exhibiting the will increase inside particular fields, in addition to by the cities and states that noticed the most important will increase from 2020 to 2021.

Wage developments by location

Regardless of the considerations with returning to in-office work in the course of the ongoing pandemic, the median wage inside tech positions rose 6.9% or a mean of $6,707 per worker from 2020 to 2021. As well as, the common wage for a data employee throughout the business now sits at $104,566 because the starvation for expertise within the tech area has pressured corporations to turn into extra aggressive with their wage presents to retain present workers and appeal to new ones. 

SEE: Google Workspace vs. Microsoft 365: A side-by-side evaluation w/guidelines (TechRepublic Premium)

Inside tech hubs all through the U.S., Silicon Valley unsurprisingly ranked because the chief in median wage, with the common employee incomes $133,204 in 2021. The report acknowledged that whereas some believed that the pandemic would encourage workers to maneuver away from excessive value of dwelling areas like Silicon Valley, however did not take note of the prevailing base of corporations looking for expertise and the flexibility for these well-established corporations to supply extra in wage than their smaller opponents.

Rounding out the top-five common salaries inside these tech hubs across the U.S. have been Seattle ($118,729), New York Metropolis ($115,510), Boston ($114,959) and San Diego ($114,801). The largest will increase from 2020 in wage by % got here from the cities of Pittsburgh, which was up 14%, adopted by Atlanta (13.9%), Chicago (12.6%), Miami (11.4%) and Seattle (11.2%). 

Wage will increase by area and talent

In particular fields, the salaries of IT administration executives, equivalent to CEOs and CIOs, remained the highest-paying positions on common with a median wage of $151,983, adopted by programs architect ($147,901), cloud architect/engineers ($140,571), cybersecurity engineer/architect ($135,059) and information architect ($128,835). A double-digit bounce in wage share was seen in net builders, which have been up 21.3% in salaries from 2020 and was famous because the quickest rising salaries within the tech area. The report theorized that the explanation for this was as a result of giant shift towards needing well-kept and correct info in organizational databases whereas additionally permitting companies to simply analyze the information to shift focus as wanted to cater to clients.

The report additionally detailed the salaries earned by workers who possessed sure specialised abilities. Staff who confirmed expertise in utilizing enterprise-search platform Apache Solr noticed each the most important wage on common with a median revenue of $143,464 and the most important bounce in wage share year-over-year, at a 15.8% improve.A number of of the entries on the checklist, like PAAS ($134,894), HANA ($133,302) and  Hadoop ($129,913 common wage), have ranked extremely in common wage on a yearly foundation as corporations proceed to worth expertise in enterprise-level infrastructure, notably in information storage, information discovery and the cloud.

Whereas not seeing as giant of a wage bounce from their cloud and information storage counterparts, coders with mastery of programming languages like Ruby ($128,689), Python ($116,498) and JavaScript ($109,833) all noticed wage will increase of 4% or extra as they continue to be the lifeblood of serving to companies of all sizes preserve legacy code or construct new apps and providers.  

Wage satisfaction in workers

Whereas these working in tech have seen practically common will increase in wage throughout the board, many workers working within the area nonetheless really feel undercompensated. Of these surveyed within the report, 47.8% expressed that they felt underpaid of their roles, in contrast with 32.6% who felt they have been appropriately compensated for his or her work. This may increasingly turn into an issue long-term, as lack of satisfaction in salaries might result in elevated resignations or workers more and more discovering work elsewhere with corporations that may extra adequately compensate them. 

SEE: Google Workspace vs. Microsoft 365: A side-by-side evaluation w/guidelines (TechRepublic Premium)

Famous within the report is when workers ought to attempt to negotiate for extra compensation. The perfect alternative for employees to seek out pay will increase comes when beginning a brand new function elsewhere, in accordance with 48% of respondents who discovered work at a distinct firm in the course of the pandemic. Solely 30% of these surveyed stated they earned further compensation when beginning a brand new function with their employers, and 26% stated they acquired a pay improve throughout their annual evaluate in the identical jobs.

As enterprise picked again up in 2021 on the heels of mass layoffs and an financial downturn from 2020, many workers turned extra comfy with trying to barter wage will increase final yr. As employers proceed needing extra employees to assist fill openings inside their corporations, the salaries throughout the business ought to proceed rising sooner or later.

Additionally see