Chicago IT jobs merit higher pay

Posted on January 27, 2013

Those holding Chicago IT jobs are getting bigger paychecks, according to a recent survey from Dice.com.

The job board repots that reports that technology professionals enjoyed their largest annual salary growth since 2008.

After two straight years of wages remaining nearly flat, tech professionals on average garnered salary increases of more than two percent, boosting their average annual wage to $81,327 from $79,384 in 2010.

A more considerable jump was noted in both size of average bonuses, up eight percent to $8,769, and the number of technology professionals receiving bonuses: 32 percent in 2011, compared with 29 percent in 2010 and 24 percent in 2009. The industries most likely to pay out bonuses: Telecom, Hardware, Banking, Utilities/Energy and Software.

“Finally! Compensation has mustered some momentum, as more and more top tech markets are notching increases in pay. Silicon Valley’s compensation moved first and wrote the playbook for highly qualified tech professionals to ask for more – whether that be in Seattle, Houston or Raleigh,” said Tom Silver, SVP, North America at Dice. “The increasing popularity of bonuses shows companies are rewarding their top performers. While everyone loves a bonus, anyone who has been through a cycle knows that bonuses both reward and punish. In fast-changing markets, it’s imperative for highly skilled tech professionals to capitalize on their career and compensation options.”

Chicago and Seattle each garnered five percent increases in average tech salaries, Denver and Dallas/Ft. Worth managed four percent growth, while New York, Los Angeles and Raleigh, North Carolina each increased three percent.

“Conventional wisdom says that as Silicon Valley goes, so goes the tech world. That’s true, and Silicon Valley is going well, but it doesn’t tell the entire story when it comes to tech employment,” added Mr. Silver. “Nationally, we’re seeing stiffer competition and higher salaries for tech pros with the right skill sets and the right experience level.”

“This looks like a push towards enterprise java — with WebSphere, JBoss and WebLogic showing outsized gains,” said Alice Hill, Managing Director, Dice.com. “Not to mention, a continuation of the trends we’ve seen toward tech professionals helping their companies gain more insight into their cost structures, customer behavior and emerging trends. If tech professionals spark companies to win by harnessing their data, that’s when the tech department is no longer seen as a cost center, but a strategic partner in meeting companies’ goals.”