How much does a technician's salary increase with experience?
that's an important question Featured in Dice's Latest Tech Salary Report. Salary data from thousands of technology professionals tells you what you're probably wondering. The more years you spend in the technology industry, the higher your average salary. Even more surprising is the drop in salary that some new tech professionals experienced between 2022 and his 2023. Look at the chart.
What's behind this decline? The surge in layoffs and global market uncertainty that characterized 2023 may have led to lower salaries for less experienced employees. Given that more than 200,000 tech workers were laid off in 2023, it's no surprise that less experienced workers were hardest hit by pay cuts. Traditionally, new hires (as well as highly paid employees) are the most likely to be fired.
When looking at the nearly 8% decrease in pay for employees with 3-5 years of experience, it's important to remember that this group benefited greatly from the hiring boom and salary spike in 2021 . Hopefully, the technology professionals hired during that surge will be out of work by mid-2023, so they used the intervening period to improve their performance. Skills and Certifications. On the other hand, new tech professionals just entering the market may want to temper their expectations, as many companies aren't paying the same salaries they did a few years ago when the coffers were flush.
We also noticed a notable increase in average compensation for employees with five or more years of experience. This fact supports the idea that years of experience and upskilling still provide significant value to technology professionals.
For more information about technician salaries, We have divided the Technician Salary Report into the following sections for your reading pleasure:
Regardless of how long you've worked in the technology industry, focus on your professional skills, recognize new opportunities, and negotiate effectively.
