The Dice 2020 Tech Salary Report: Satisfied Technologists Primed to Innovate If Employers Shift to More Holistic Offerings
DHI Group, Inc. announced that Dice, its leading career marketplace for technology professionals, has released its annual Dice 2020 Tech Salary Report.
In 2019, the average U.S. annual salary in the technology industry hit $94,000, up just 1.3% from 2018. Some of the nation’s largest tech hubs saw increased salaries in 2019 – Silicon Valley (including San Francisco) saw average salaries increase 4.7% year-over-year, to $123,826. In New York City, salaries crept up 1.7%, to $102,359.
Satisfied technologists seek holistic approach to work
As a whole, 38% of technologists said they are likely to change employers in 2020, which is down from 45% in 2019. While external factors – like 2020 being an election year – may contribute to more technologists wanting to stay with their current employer, satisfaction among technologists remains relatively high, as nearly half said they were satisfied or very satisfied with their current or most recent job. In order to attract specialized technologists, employers should consider a strategy shift toward more holistic offerings for top talent.
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“In order to support tech as an ever-growing field across industries, employers should understand the benefits that make the most impact to skilled technologists,” shared Art Zeile, CEO of DHI Group, Inc., parent company to Dice. “To entice top talent, in addition to compensation, a focus on ’emerging’ benefits and remote work options will position tech companies’ roles at the top of the stack for in-demand experts,” said Zeile.
Emerging benefits and remote work
This year’s report shows that technologists are interested in emerging benefits such as college tuition reimbursement (which 48% expressed interest in, though only 25% report receiving it as a benefit), wellness programs (45% expressed interest, up 6% from last year), maternity/paternity leave (45%, up 11% from last year), and paid volunteer opportunities (35%, up 7% from last year).
In addition to more nuanced benefits, remote work remains a desire for more than half of technologists as 61% of survey respondents said that they wanted to work remotely at least half the time, but only 24% of them have the opportunity to do so.
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Work/life balance and a focus on creativity
2019 data showed that work-life balance was the top-rated motivator employers provided to technologists (40%), with higher rates than recognition (33%), health or retirement benefits (31%), and higher compensation or promotion (26%).
“We’re excited to share that this year’s report brought to light a new tool for balancing the demands of technology work. With over a quarter of technologists seeking opportunities to be more creative in their jobs, employers can meet this need by offering special projects and empowering technologists to approach projects in distinct and creative ways, allowing room for continued innovation and in turn, increased satisfaction for technologists,” said Michelle Marian, CMO of DHI Group, Inc., parent company of Dice.
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