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DC Tech Salaries Are Rising

Posted by Jeff Pelliccio on Apr 11, 2018 9:00:00 AM

In ICS insights, Job Trends, Job Search Tips

A surprising 70 percent of IT pros surveyed in 2018 were happy with the work, and this was true for tech workers of all generations. However, the same people stated that they were not as happy with what they were being paid. In the survey, the majority of respondents (63 percent) thought they were not paid enough for the work they do.

So, how do salaries hold up when compared across generations and do these IT folks have legitimate complaints? Let's take a look at tech salaries in North America. The median salary for those working in IT is $60,000. On the other hand, compensation varies a great deal depending on specialization, number of years working in the field, the title of the tech professional and what industry they work in.

The Impact of Salary by Generation

What is the impact of age on salary in this competitive field? When you consider what each generation makes, compensation seems to commiserate with experience. This means that the survey found that the latest generation of inexperienced millennials make 30 percent below the previous Gen X IT technologists and 40 percent below what baby boomer IT professionals collect on their paychecks.

Millennials don't have the same experience and haven't had time to work their way to promotions and raises. As millennials gain experience, their compensation will rise. So, time will tell if this generation outpaces the prior two.

Demand Drives Tech Salaries

Most IT leaders predict that salaries will increase in general with only certain positions experiencing a downturn. Security pros are precious in this age of costly data breaches. Although most companies have resigned themselves to lost data, they are still offering the most money to security professionals in the hopes of shoring up their systems. Software engineers and DevOps positions continue to gain momentum and follow along closely behind information security.

The transportation industry is a great place for tech workers nationwide. Candidates average $145,000 a year. Contrastingly, healthcare and financial services offer tech workers the lowest wages of $111,000 and $115,000.

Increase in Hiring Rates

According to Spiceworks State of IT report for 2018, IT workers should be optimistic about their future. In this report, 45 percent of responding organizations expected to expand their IT departments in 2018. This number is a dramatic increase over the five percent expecting to shrink their IT budgets. Big companies are optimistic about hiring, and 70 percent of large corporations said they would add headcount to their IT workers in 2018.

Bureau of Labor projections say tech jobs will increase by 13 percent between 2016 and 2026, making IT the quickest growing industry. Tech will add 550,000 positions to the workforce across the nation.

Washington DC Tech Outlook is Bright

Things are looking good in DC. Hired.com stated that DC tech professionals, including software engineers, product managers, designers and data analysts, saw a 6 percent salary bump in 2017. DC and Seattle share second place with the second fastest-growing IT salaries of anywhere outside the developing Austin tech stronghold. After declining $12,000 from 2015 to 2016 from $121,000 to $109,000, DC's new tech salary averages $116,000.

The Washington, D.C region enjoys a spot in the top 3 spot tech markets and is a great place to start out a new career or explore options as a senior technologist. Cushman & Wakefield rank their tech cities countdown based on an index including job and income growth, net absorption of office space and rising rents over seven years. The nation's capital holds top rank in life sciences and government jobs, and the DC area is considered a hot spot for tech entrepreneurs and professionals who want access to policymakers and cybersecurity interests.

DC is the best place to be right now for tech talent. If you want to be paid top dollar for your work, consider moving to the area or simply switching to a job that values your talents. When you're ready to make a move, ICS is here to help. Check out our open jobs and reach out to receive the easiest job search, the ultimate job, and the greatest partnership. 

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