IT Pros See Shrinking Job-Related Benefits Despite Salary Increases

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The 2024 IT Salary Report shows reduced job satisfaction.

The demand for IT expertise remains strong, leading to a general increase in base compensation levels, according to the 2024 IT Salary Survey Report from ITPro Today. However, decreases in job-related benefits have led to less overall job satisfaction.

The median total compensation for IT professionals this year was $130,000, compared with $125,000 in 2023. Unfortunately, a breakdown of salaries by gender shows that the median salary for women was only $123,329 this year. “This persistent disparity echoes trends observed in previous years,” the report notes.

Despite increases in base pay, non-salary benefits (such as healthcare insurance, training and certification reimbursements, stock options) did not see similar growth:

  • Only 68% of respondents reported receiving health insurance, down 9% from 2023.
  • 56% of respondents reported receiving a 401(k) savings match, a decrease of 10%.
  • 3% of respondents reported access to daycare or daycare subsidies at their organizations, down from 4% last year.

Only 39% of survey respondents said they were “satisfied” with their total compensation, which is down from 50% last year. “Although base compensation may have increased, it

barely offset the 3.4% inflation rate in 2023. Moreover, with decreasing non-compensation benefits like health insurance, IT professionals may need to budget their base salary for these services,” the report states.

Average reported salaries by job title are:

  • CIO/CTO: $313,581
  • CEO/president/owner: $246,478
  • IT director: $150,861
  • Engineer/systems engineer: $148,819
  • Software/web developer: $144,810
  • IT consultant/SI/VAR: $138,855
  • IT manager: $131,170
  • Systems analyst/systems admin: $101,171
  • IT staff: $92,006
  • Technical staff $87,978
  • IT operations: $86,486

Read more at ITPro Today.
 
 
 

 
 
 

06/26/2024
IT
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