For tech professionals on the job hunt, here’s some good news: companies in pretty much every industry need tech talent. Even the most old-school business requires a website, at the very least, and often a database of some sort. But how much do industries outside of tech actually pay?
According to the latest edition of Dice’s Tech Salary Report, industries such as aerospace and defense, medicine, and finance can pay out substantial compensation to tech professionals. Salaries in key industries have also risen year-over-year. Here’s the chart:
However, the tech industry still retains a slight edge when it comes to pay. According to the Salary Report, salaries among tech professionals working at a technology company are 2.9 percent higher on average than those offered to tech professionals in other industries. Or to put it another way, tech professionals working at tech companies earned an average of $112,335 last year, whereas those working outside of tech earned an average of $109,170. (Some 49 percent of tech professionals working for a tech company said they were satisfied with their compensation, versus 34 percent of those working outside of tech.)
If you’re interested in working for a new industry and curious about how to break in, keep in mind that nearly every industry demands specialized knowledge. If you want to work in healthcare, for example, chances are good that you’ll need at least some familiarity with HIPAA, which secures patient data. For many aerospace and defense roles, you may need a security clearance. But don’t let the need to learn that extra knowledge dissuade you from considering other industries; there’s clearly a need for tech talent.
We’ve broken down the Tech Salary Report into the following sections for your reading pleasure:
As we proceed through 2024, always remember that, no matter what your industry, you can boost your salary by focusing on specialized skills, recognizing new opportunities, and negotiating effectively.
