As artificial intelligence (AI) and machine learning continue to reshape the technology landscape, these skills command salary premiums of up to 17.7%. Despite this growth, the tech industry is facing a rising wave of dissatisfaction, with 47% of technology professionals actively seeking new roles in 2024, according to Dice’s 20th Annual Tech Salary Report. This marks a sharp increase from 29% in 2023, highlighting shifting priorities among tech workers who now value total compensation and growth opportunities over base salary alone.
Key Insights from Dice’s 2024 Tech Salary Report
1. Salaries and Satisfaction:
- The average tech professional salary reached $112,521 in 2024, a modest 1.2% year-over-year increase.
- Compensation satisfaction has hit a record low, with 59% of respondents feeling underpaid—the highest percentage in the report’s history.
2. AI Skills Drive Premium Pay and Satisfaction:
- Tech professionals working in AI earn 17.7% more than peers in non-AI roles.
- Those involved in AI also report higher job satisfaction levels, indicating a correlation between advanced skills and workplace fulfillment.
3. Industry and Regional Variations:
- Manufacturing saw the highest industry salary growth in 2024, at 15.1%.
- Silicon Valley remains the highest-paying region for tech roles, despite a 7.3% decline in salaries year-over-year.
- Consulting, software, and banking/finance remain the highest-paying sectors, each offering average salaries exceeding $125,000.
4. Benefits Decline Amid Cultural Shifts:
- Training and professional development opportunities fell by 6 percentage points from 2023 levels.
- Remote work options declined by 4 percentage points year-over-year.
- Merit-based raises were awarded to only 36% of tech professionals, compared to 41% in 2023.
5. Two Decades of Progress and Challenges:
- AI and machine learning were identified as the most transformative technologies of the past 20 years, cited by 36% of seasoned tech professionals.
- Women with over 20 years of experience are 1.5 times more likely than men to report improvements in workplace culture, although only 48% of seasoned professionals feel overall culture has improved.
CEO Perspective on the Tech Job Market
“Tech professionals now prioritize the total employment package, including benefits, job security, and professional development,” said Art Zeile, CEO of DHI Group, Inc. “This creates both challenges and opportunities for companies aiming to attract and retain top talent.”
Zeile emphasized that employers who can bridge the gap between what tech professionals value and what they are offered-particularly in areas like remote work flexibility and upskilling-will have a competitive edge in 2025.
Methodology
The Dice 2024 Tech Salary Survey gathered 2,835 qualified responses from August 30 to November 6, 2024. Respondents included employed technology professionals across the U.S., with data weighted for gender and age to ensure representativeness.
