The technology profession remains one of the most lucrative job types for modern professionals. High salaries and a relative immunity from economic downturns combine to attract many of the most talented minds out of college. However, some industries offer their IT pros a higher salary and better benefits package compared to others.
Here is a look at what industry sectors are paying the most for technology talent. Leverage these insights to ensure you earn what you’re truly worth. Maybe a change in jobs might be lurking in the near future?
A Six-Figure Average Technology Salary in These Industry Sectors
According to a 2017 survey from an IT industry analyst group, the combined banking/finance/insurance business sector boasts the highest average annual tech salary, at $103,860. This is a 1.2 percent increase over the previous year. Following close behind is the utilities/energy sector at $103,492, an increase of 2.1 percent compared to 2016 data.
The aerospace and defense sector just missed the $100,000 threshold, reporting an average annual salary of $99,992. If the 4.7 decrease in earnings compared to 2017 is merely a blip in the data, a six-figure pay rate should be expected in 2018 and beyond. IT industry pundit, Nick Kolakowski, commented on the regular need for talented technology professionals in aerospace and defense.
“Those who specialize in the tech side of aerospace & defense can easily find private vendors and the federal government clamoring for their services, provided they have the right mix of skills and experience,” said Kolakowski.
The Surprising Renaissance of Manufacturing
Apparently, the rumors of the demise of the American manufacturing industry were exaggerated. The average yearly salary for a tech pro working in manufacturing is $90,488, a 3.9 increase over the previous year. Kolakowski feels this uptick is largely due to the increased use of automation and robotics in factories; requiring an influx in experienced IT professionals.
Other Lucrative Industries for Technology Pros
The technology industry itself remains a high-paying field; with computer software ($98,455) and computer hardware ($97,569) residing near the top of the surveyed business sectors. Both incurred a slight decline (less than one percent) in salaries compared to 2016. The professional services, medical/pharmaceutical, and entertainment media sectors all boast salaries over $95,000 per year.
With the average tech salary across all industries at $92,081, there is no denying the rewarding nature of the IT profession. Pick a sector of interest and take your career to a higher level.
When you need additional advice on growing a rewarding career in technology, talk to the knowledgeable recruiters at The MindFinders. As one of the top tech staffing agencies in Washington DC, we also know the companies looking for talent. Connect with us soon!
Written by Tim Booker, President and CEO of MindFinders, with over 20 years of industry experience.