June 19, 2024
The median salary for IT professionals rose 3.6% to $145,000 in 2023, according to a new report by InformationWeek. Most, 78%, received a raise, but while a majority are satisfied with their jobs, overall satisfaction edged down from the previous year.
“IT professionals still seem quite satisfied with their careers today, but there are hints that the satisfaction could slip,” Sara Peters, editor in chief at InformationWeek, said in a press release. “Our survey results indicate that respondents right now find an IT career to be more exciting but a little less comfortable.”
The survey found that 56% of IT pros are either “satisfied” or “very satisfied” with their total compensation. And more than half, 59%, are satisfied with their overall job. However, both figures are down from year-ago levels of 61% and 62%, respectively.
A majority of IT professionals, 58%, also said they are unlikely to seek employment in the next year, according to the report. Still, for those who might look for a new job, 64%, the driving force behind their job search would be higher pay.
Also, despite being satisfied with their jobs, more than half of respondents rated their stress as a 6 or higher on a 10-point scale. Feeling overworked has the most negative impact on mental health, cited by 42%.
InformationWeek’s report also found the gender pay gap persists, with men reporting higher salaries. However, the gap has narrowed to $5,000, which is down from two years ago when the gap was $23,000.
The survey includes responses from 500 information technology professionals employed full time in the US across more than 33 industries including consulting, financial services, banking, manufacturing, healthcare, IT services, education and government.