Tech Professionals See Pay Jump; Bonus Popularity on the RiseDice Press Release
Average Tech Salaries in Silicon Valley Top $100,000
Technology professionals enjoyed their largest annual salary growth since 2008, according to the 2012-2011 Salary Survey from Dice, the leading career site for technology and engineering professionals. After two straight years of wages remaining nearly flat, tech professionals on average garnered salary increases of more than two percent, boosting their average annual wage to $81,327 from $79,384 in 2010.
A more considerable jump was noted in both size of average bonuses, up eight percent to $8,769, and the number of technology professionals receiving bonuses: 32 percent in 2011, compared with 29 percent in 2010 and 24 percent in 2009. The industries most likely to pay out bonuses: Telecom, Hardware, Banking, Utilities/Energy and Software.
"Finally! Compensation has mustered some momentum, as more and more top tech markets are notching increases in pay. Silicon Valley's compensation moved first and wrote the playbook for highly qualified tech professionals to ask for more - whether that be in Seattle, Houston or Raleigh," said Tom Silver, SVP, North America at Dice. "The increasing popularity of bonuses shows companies are rewarding their top performers. While everyone loves a bonus, anyone who has been through a cycle knows that bonuses both reward and punish. In fast-changing markets, it's imperative for highly skilled tech professionals to capitalize on their career and compensation options."
Six-Figure Silicon Valley
In Silicon Valley, annual tech salaries topped six figures for the first time since the survey began about a decade ago. The highest in the nation, Silicon Valley's annual salary of $104,195, increased five percent year/year. In addition, bonuses are both fatter and more frequent in Silicon Valley - with 38 percent of tech professionals receiving bonuses at an average of $12,450.
While the Valley's resurgence is well documented, other tech markets did exceptionally well too. In fact, 12 of the top 20 cities for tech jobs had above average wage growth. The largest: Austin, Texas with a 13 percent jump in pay to average $89,419. Portland, Oregon showed an annual wage increase of 12 percent to $82,055; Houston saw seven percent growth ($89,307); and Washington D.C. experienced nearly six percent growth ($94,317).
Chicago and Seattle each garnered five percent increases in average tech salaries, Denver and Dallas/Ft. Worth managed four percent growth, while New York, Los Angeles and Raleigh, North Carolina each increased three percent.
"Conventional wisdom says that as Silicon Valley goes, so goes the tech world. That's true, and Silicon Valley is going well, but it doesn't tell the entire story when it comes to tech employment," added Mr. Silver. "Nationally, we're seeing stiffer competition and higher salaries for tech pros with the right skill sets and the right experience level."
Difference Makers: Skills and Experience
While salaries are on the rise among technology professionals, entry-level salaries continue to be pushed downward, according to the survey. The professionals who generally saw their wages increase were those with 11 or more years of experience in their field.
The skills that commanded six-figure salaries and had above average year/year growth are:
2011 Average salary
ABAP - Advanced Business Application Programming
SOA - Service Oriented Architecture
ETL - Extract Transform and Load
JDBC - Java Database Connectivity
UML - Unified Modeling Language
"This looks like a push towards enterprise java – with WebSphere, JBoss and WebLogic showing outsized gains," said Alice Hill, Managing Director, Dice.com. "Not to mention, a continuation of the trends we've seen toward tech professionals helping their companies gain more insight into their cost structures, customer behavior and emerging trends. If tech professionals spark companies to win by harnessing their data, that's when the tech department is no longer seen as a cost center, but a strategic partner in meeting companies' goals."
Dice Salary Survey Methodology
The Dice Salary Survey was administered online with 18,325 employed technology professionals responding between September 19 and November 21, 2011. Respondents were invited to participate in the survey through a notification on the Dice home page, and registered technology professionals were sent an email invitation. A cookie methodology was used to ensure that there was no duplication of responses between or within the various sample groups, and duplicate responses from a single email address were removed.
Dice, a Dice Holdings, Inc. service, is the leading career site for technology and engineering professionals. With a 21-year track record of meeting the ever-changing needs of technology professionals, companies and recruiters, our specialty focus and exposure to highly skilled professional communities enable employers to reach hard-to-find, experienced and qualified technology and engineering candidates. www.Dice.com
Jennifer Bewley or Rachel Ceccarelli