Tech pros see pay jump; Bonus on the rise

CIOL Bureau
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NEW YORK, USA: Technology professionals enjoyed their largest annual salary growth since 2008, according to the 2012-2011 salary survey from Dice, the 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 per cent, boosting their average annual wage to $81,327 from $79,384 in 2010, said a press release.

Also read: More tech workers get bonuses pay raises: survey

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.

Also read: 54 pc of IT pros says job market will pick up in 2012

"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," added Silver.


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.

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.