Salary Of IT Professionals Highest Ever Recorded
The average annual salary for global IT professionals is $89,732
Photo Credit : Reuters,
The average annual salary for global IT professionals is $89,732—the highest it’s ever been, according to the 2019 IT Skills and Salary Report by Global Knowledge. The report highlights North American IT professionals earn $109,985, which is 23 percent more than the worldwide average, which increases to 27 percent in the US.
A clear distinction across all geographies is the ratio of IT decision-makers’ salaries compared to the salaries of the employees they manage. In North America, IT managers earn an average of 40 percent more than their staff. This ratio is comparable to Latin America (44 percent) and Asia-Pacific (38 percent).
Salaries are going up
Global IT compensation is the highest it’s ever been. There are a number of factors at play, including responsibility level, job function, tenure, company size, industry and where you live. This report examines how the top-paying IT professionals fit into all of these categories.
Want a raise? Be better at your job
IT professionals on average earned $5,000 more this year compared to 2018. The main reason? Job performance. Training to add skills that immediately translate to the workplace is leading to pay increases. Professional development makes a difference if you’re looking to boost your earnings.
Eighty-five percent of global IT professionals hold at least one certification, of which over half were earned in the past 12 months. Another 66 percent plan to attain a new certification this year. Tech professionals still see the value in certifications and are pursuing them in various categories and technologies.
Top-paying certifications vary by region
Instead of just looking at the highest-paying certifications worldwide, this year we broke up our lists by region. That means the top-paying certification in North America may not match the top-paying credential in Latin America.
The highest salary increase was amongst Latin American IT professionals, who experienced an average raise of 6.5 percent. North America (5.8 percent), EMEA (5.6 percent) and Asia-Pacific (5.2 percent) saw slightly smaller increases.
Forty-two percent of the respondents who received a raise attribute it primarily to job performance. Standard company increase is the second most frequently mentioned reason. Fifteen percent were promoted within their company in the past year.
The reason for a raise impacts the amount of the raise. Nine percent of IT professionals attribute their raise to adding new skills—those same individuals earned nearly $12,000 more than last year, a strong indication that training pays off.
Professionals who left their current company and sought a promotion elsewhere saw their salaries jump over 26 percent, while those who were promoted internally increased their salaries by 14 percent. A lateral move to another company resulted in a 20 percent salary increase.