Last year, many tech professionals saw their salaries level off. Did that trend impact their bonuses?
According to Dice’s latest Tech Salary Report, 39 percent of tech professionals received a bonus in 2023, roughly consistent with 2022 (when 38 percent received one). The average tech professional’s bonus hit $15,011, up from $13,794 in 2022.
Nearly half of surveyed tech professionals saw an increase in their bonus last year, which is great news. Most bonuses are given at the beginning of the year, meaning that even amid an unprecedented layoff spike in January and February, many tech professionals enjoyed an infusion of cash. This is a strong reminder that, while high-profile layoffs dominated the tech landscape for much of the year, not every company or every tech professional was impacted in the same way. (Among those tech professionals laid off, some were likely contractually obligated to receive their bonuses from the preceding year, as well.)
Among the various income streams that tech professionals enjoy beyond their annual salary, bonuses remain the most significant, constituting nearly half of all additional income streams combined. However, we did see an increase in the share of income generated by commissions, profit sharing, dependent care and tuition assistance compared to 2022.
If you’re currently looking for a new position (or you want to upgrade your current position with a better portfolio of benefits), keep in mind that many companies have been expanding their offerings to tech professionals in recent years. While traditional benefits such as health insurance and paid vacation remain mainstays at companies large and small, more hiring managers have been trying to entice (and retain) tech professionals with new, interesting perks such as child and elder care, fertility benefits, work-from-home stipends, and even pet insurance.
Meanwhile, last year’s average tech salary was $111,193, down very slightly from $111,348 in 2022. That’s quite a change from previous years, when the average salary rose 9 percent between 2019 and 2021. It’s important to note, though, that highly specialized skills in arenas such as cloud enjoyed notable salary bumps; companies always have a hunger for cutting-edge talent.
