The ICT industry has recently experienced noticeable growth, especially in salary. With industries becoming more inclined to use technology, the demand for more professionals will increase. The subsequent effect? Higher salaries.
A trend indicating salary growth in the past five years has already emerged. But what exactly is driving it, and how can IT experts take advantage of these growing salary trends?
This article will answer these questions in more detail below. Read on:
What’s Driving the Surge in IT Salaries?
Many factors are at play in the current IT salary scale. From the growing demand for specialized skills to growing tech adoption, here’s a breakdown of how each factor influences salaries:
Demand for Specialized Skills
The world is moving toward the Web3 era, where decentralized blockchain technology will power the internet. This has led to emerging technologies such as artificial intelligence (AI), blockchain, and machine learning. With the emergence of these technologies, the demand for such specialist skills has also increased.
Many organizations are willing to pay premium salaries to secure the services of expertise in these areas. For example, the current IT salary guide shows that machine learning specialists’ average salary has YoY change of about 5.3%, while for AI engineers, it is 12.3%. These changes are higher than those of other common skills, such as back-end developers, who only change 2.7%.
Cloud computing is another area where the demand has skyrocketed. With businesses migrating to cloud-based infrastructures, professionals skilled in platforms like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud are highly sought after. Roles such as cloud architects and DevOps engineers are particularly lucrative.
Growing Tech Adoption Across Industries
Tech adoption in the past was confined to tech companies only. However, there’s been a shift. Many non-tech businesses that once solely depended on human effort are now embracing technology. Industries such as healthcare, finance, and education are also undergoing a digital transformation, hence a massive demand for IT Talent.
In fact, according to the Bureau of Labor Statistics, tech jobs in the US are expected to grow twice the overall workforce in the next decade. This indicates that more industries and businesses want to acquire top tech talents as they shift towards more digital operations. (1)
Talent Shortages in the Industry
Despite the tech workforce growing much faster than other roles, there’s still a massive shortage of skilled workers. A few available jobs are highly sought-after, contributing to the high salaries paid.
A report by Gartner highlights that IT executives identify talent shortages as the primary obstacle to adopting 64% of new technologies. In fact, the lack of talent was cited more than security and implementation costs. (2)
This shortage is not limited to entry-level roles. It extends to mid and senior-level positions, particularly for roles requiring specialized cybersecurity, AI, and cloud computing skills. But it doesn’t stop here. These shortages will likely increase as many institutions struggle to keep up with technological changes.
Plus, the competition for global tech talents intensified. Remote work and the global hiring process have enabled companies to look for talent across borders. This opens up access to better-paying jobs. That is why companies in countries with lower wage rates are forced to increase the salaries of their tech employees.
How to Cash In on IT Salary Growth
As an upcoming IT professional, or even if you’re already established in the field, this salary growth trend isn’t something to miss out on. You need to cash in as soon as possible and enjoy the benefits. Here’s how you can do it:
Upskilling and Reskilling
New skills are often required to keep up with emerging technologies and in-demand roles in the IT industry. Therefore, the best way to capitalize on the rise in IT salaries is to equip yourself with skills that align with the current industry needs.
For instance, current reports indicate a shortage of 3.4 million cybersecurity professionals globally. Therefore, if you are a front-end or back-end developer, you can learn about network and system security, among other cybersecurity-related courses. That way, you’ll be ready to fill in the existing gap in cybersecurity and demand a higher salary. (3)
There are several opportunities to upskill. One good example is joining tech boot camps. These programs focus on a unique set of skills, such as software development, DevOps, and data analytics. There are also several online platforms where you can enroll and study. The best part of most of these courses is that they’re self-paced, which suits those who have hectic schedules.
Stay Ahead of Industry Trends
The IT industry moves quickly, and you must stay relevant and adaptable. This requires continuous learning and knowledge of emerging tech developments. Read tech blogs every day to stay informed about tech trends. Search for information about advancements in AI, blockchain applications, and cybersecurity threats.
Next, subscribe and listen to podcasts and webinars. These sessions provide insights into the latest developments and best practices. Tech conferences and meetups can also introduce you to cutting-edge technologies and connect you with thought leaders. These conferences also allow you to network and build a strong professional connection that can boost your career success.
Strategic Job Searching and Salary Negotiation
Where you look for a job and how you negotiate your salaries are just as important as your skills. Different organizations have varying salary rates; hence, you need to be on the lookout for the best offers. First, target companies that align with your career goals and salary expectations. Start with companies that are known to offer competitive salaries.
Secondly, research salary ranges for specific roles, industries, and locations. Knowing your worth before negotiating gives you confidence and ensures you’re not underselling your value. During the negotiation stage, highlight your unique skills, certifications, and relevant experience. Be ready to explain how you can contribute to the company’s success.
You must also mention other benefits as they’re as important as the salary. Ask for other perks, like signing bonuses, remote work opportunities, or additional vacation days.
In Conclusion
IT salaries have experienced remarkable growth over the past five years, driven by the demand for specialized skills, talent shortages, and rising technology adoption across industries. As this trend isn’t slowing down, it’s now an excellent opportunity for those willing to adapt and invest in their careers. Learn in-demand skills, stay informed about industry trends, and position yourself strategically to negotiate higher salaries.
References:
- 2025 tech job market statistics and outlook: https://www.techtarget.com/whatis/feature/Tech-job-market-statistics-and-outlook#:~:text=1.%20Tech%20jobs,job%20openings%20annually.
- Gartner Survey Reveals Talent Shortages as Biggest Barrier to Emerging Technologies Adoption: https://www.gartner.com/en/newsroom/press-releases/2021-09-13-gartner-survey-reveals-talent-shortages-as-biggest-barrier-to-emerging-technologies-adoption#:~:text=IT%20executives%20see,security%20risk%20(7%25).
- Expect To See These Technical Skills Gaps In The Next Year: https://www.forbes.com/councils/forbestechcouncil/2024/03/19/expect-to-see-these-technical-skills-gaps-in-the-next-year/#:~:text=Cybersecurity%20And%20Data,cybersecurity%20professionals%20worldwide.
