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IT Wages to Rise 4.0% at the Median in 2023, Salary Study Finds
With current high levels of inflation and relatively low levels of unemployment, we would expect IT salaries to be rising strongly. But in the IT job market right now, that is not the case. The job market is being influenced by a series of competing tensions, which will continue in ’23. This Research Byte summarizes the executive summary of our IT Salary Report 2023.
IT Salary Report 2023
This report provides total compensation for 80 IT job functions for more than 400 US metro areas and 20 industry sectors. The executive summary also provides our forecast for pay raises and hiring in 2023 and includes job descriptions for each job function. The salary tables are provided as a downloadable Microsoft Excel workbook, with total salaries reported at the 10th, 25th, 50th (median), 75th, and 90th percentiles.
Biggest Salary Increase in a Decade for IT Workers
It is difficult to overstate the impact of COVID-19 and the subsequent social and economic fallout on the labor force. Call it greed. Call it labor finally understanding its value. Call it a response to inflation. Call it whatever you want. The outcome is the same. Workers are demanding higher salaries and more flexible ways of working. This Research Byte summarizes the executive summary of our IT Salary Report 2022.
IT Salary Report 2022
The report is based on our annual survey of representative IT organizations on median salaries and bonuses paid to their IT professionals for positions under study along with other sources of pay data and the US Department of Labor’s Bureau of Labor Statistics (BLS) compensation data. The study also includes job definitions for each position covered.