For those in IT, now is the time to ask for a raise. That is, unless you just received one. According to a report from the Dice Tech Salary Survey, those in the technology profession have seen the largest increase in their pay in 2012 since 2008. For many, that’s good news because it means that the economy is growing – and paychecks are reflecting the increased demand in this industry.
Average Wage Increased
According to the survey, after two years in which wages in the IT field seemed to stagnate, there’s been a nice two percent increase for professionals, on average, in 2011. The average salary for an IT professional in the United States in 2010 was $79,384. This year, average rates are now up to $81,327.
Bonuses Are Paying Out
Many individuals in this industry are given bonuses for a job well done. That proved to be the case in 2012 as well. The average size of IT bonuses grew by a whopping eight percent. On average, individuals received as much as $8,769. The survey notes that the number of people getting bonuses also increased. Check out these numbers:
- In 2009, the number of IT professionals receiving a bonus was 24 percent.
- In 2010, that number was 29 percent.
- In 2011, the number grew to 32 percent.
Where were you most likely to see a bonus if you worked in this field? Those in the telecom, hardware, banking, utilities and software industries were most likely to see a boost to their paycheck as a result of a bonus.
It’s Not Just in Silicon Valley Either
Though Silicon Valley is still the highest paid market for well-trained professionals in IT, it’s not the only place seeing these improvements. There are wage increases and higher bonuses being paid out to more people across the country. This includes areas like Austin, Washington DC, Seattle and Dallas. That means the entire industry is growing.
What It All Means
Why are wages going up and more individuals receiving larger bonuses? There are numerous reasons this is happening and it is all good news for those in this industry.
- In many areas, economic conditions are improving and that’s driving more employers back to growing their businesses.
- In some areas, however, it is the sheer lack of growth that is pushing the IT world. Instead of hiring numerous people to do a job, many employers are looking for IT solutions to cut into the cost of hiring more. That’s making IT pros in demand.
- Employers are more willing than ever to hold onto good talent. They know it is hard to find qualified professionals, and they are willing to spend the money to keep them.
For those IT professionals looking for wage increases, use these numbers as a tool to help show just how in demand your services are. With higher bonuses, employees can now start thinking about asking the boss for bigger paychecks.