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IT Salaries Increase as Benefits Shrink

14 Nov, 2024

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 in 2024 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, itbarely 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