IT Pros See Shrinking Job-Related Benefits Despite Salary Increases
The demand for IT expertise remains strong, leading to a general increase in base compensation levels, according to the 2024 IT Salary Survey Report from ITPro Today. However, decreases in job-related benefits have led to less overall job satisfaction.
The median total compensation for IT professionals this year was $130,000, compared with $125,000 in 2023. Unfortunately, a breakdown of salaries by gender shows that the median salary for women was only $123,329 this year. “This persistent disparity echoes trends observed in previous years,” the report notes.
Despite increases in base pay, non-salary benefits (such as healthcare insurance, training and certification reimbursements, stock options) did not see similar growth:
- Only 68% of respondents reported receiving health insurance, down 9% from 2023.
- 56% of respondents reported receiving a 401(k) savings match, a decrease of 10%.
- 3% of respondents reported access to daycare or daycare subsidies at their organizations, down from 4% last year.
Only 39% of survey respondents said they were “satisfied” with their total compensation, which is down from 50% last year. “Although base compensation may have increased, it
barely offset the 3.4% inflation rate in 2023. Moreover, with decreasing non-compensation benefits like health insurance, IT professionals may need to budget their base salary for these services,” the report states.
Average reported salaries by job title are:
- CIO/CTO: $313,581
- CEO/president/owner: $246,478
- IT director: $150,861
- Engineer/systems engineer: $148,819
- Software/web developer: $144,810
- IT consultant/SI/VAR: $138,855
- IT manager: $131,170
- Systems analyst/systems admin: $101,171
- IT staff: $92,006
- Technical staff $87,978
- IT operations: $86,486
Read more at ITPro Today.