77% of IT professionals report an increase in base salary in 2022

May 23, 2023

Despite rising labor costs, economic inflation and companies scrambling to cut back, the salary outlook for IT professionals is positive, according to the InformationWeek 2023 US IT Salary Report: Rising Salaries and Closing the Gender Pay Gap. “.

More than three-quarters of IT professionals, 77%, reported an increase in base salary in 2022. Median salary increased 12%, from $125,000 to $140,000 in 2021.

Additionally, 61% of IT professionals expressed satisfaction with their total compensation and 62% reported satisfaction with their job overall.

While the gender pay gap persists, both men and women experienced pay increases. Women saw a 28% increase in their annual wages, reaching a median of $135,000 in 2022. Men’s wages, on the other hand, increased 9% to $140,000 this year.

The report also found that more than half, 58%, of IT professionals are unlikely to seek employment with another organization in the coming year. However, for those considering a job change in 2023, a higher salary was identified as the driving force by 70%.

“Despite the unknowns in the market, the IT salary outlook is bright for now,” said Sara Peters, editor-in-chief of Informationweek. “Businesses are raising wages as the cost of living rises, and they are committed to advancing pay parity and diversity in hiring.”

Peters said that despite witnessing a spate of layoffs at technology companies, the majority of IT professionals report positive overall job satisfaction and nearly nine in 10 feel secure in the security of their current job.

“It is difficult to predict what impact generative AI and other new automation technologies will have on IT salaries and hiring patterns. We’ll have to see what next year’s survey results tell us about that,” Peters said.

The survey includes responses from 456 full-time employed IT professionals in the US. Respondents come from more than 35 industries, including healthcare, financial services, banking, consulting, IT services, manufacturing, education, and government.