It’s no secret that there’s a very nice living to be made as an IT professional. Hard work, a thirst for knowledge, the drive for continuous improvement and inherent intelligence all play big roles in the success of IT pros. And while all those reasons are the primary drivers behind a satisfying IT career, there’s certainly nothing wrong with collecting a sizeable paycheck as a reward for all that hard work. And those already-impressive paydays are on the rise, based on Global Knowledge’s 2019 IT Skills and Salary Report. In fact, IT professionals’ salaries across the globe are higher than they’ve ever been.
Why Are IT Salaries on the Rise?
Job performance: the bottom line is, if you do your job well, you’re going to be rewarded. That’s a big reason why IT pros’ salaries, on average, increased $5,000 per year since 2018. Approximately 42% of respondents that received a raise correlate it primarily to job performance.
And the best way to do well at your job? Keep learning. Adding new skills to your repertoire (such as through IT training and certifications) can eventually lead to more responsibility, which generally translates to a salary increase.
Professional development is critical when it comes to advancing your career and maximizing your earnings.
Case in point:
- 9% of IT professionals credit their salary bump to the addition of new skills to their toolbox
- Those same IT pros earned nearly $12,000 more than last year
This is clear evidence that training, IT certifications and the desire to expand your knowledge base pay off. Literally.
A standard yearly raise is another major reason for the overall increase in average salary.
- Promotions: Approximately 15% of respondents earned an increase via promotion. Those who were promoted internally received a 14% increase, while those who found a promotion with another company saw their salaries grow by 26%.
- Job Change: Even lateral moves proved lucrative for IT pros in 2019. Workers who left their company for the same or a similar position elsewhere earned 20% more.
- Bonuses: Across the globe, 50% of all IT staff received a bonus as well as 56% of IT decision makers, which contributed to the overall increase in 2019.
The conclusion to be drawn here is a very straightforward and logical one. Salary increases among IT professionals are directly tied to job performance. The harder IT staff work, the more training they receive, the more results they get, the better the company performs – it’s all tied together. And it’s paying off quite nicely for IT pros.
IT Salaries: Where the Money Is
So, where’s the place to be if you want to maximize your earning potential as an IT pro? According to the Global Knowledge report, that would be North America, where the average salaries for non-management IT staff, mid-level professionals, senior roles and executives rank the highest among all regions of the world.
Digging deeper into each role type shows that:
- Non-Management IT Pros: The global average among non-management IT staff (such as network engineers, security analysts and programmers/developers) was $75,345. The lowest end of the spectrum was in Latin America at $29,156, while IT pros in North America earned the most at $87,328 (you’ll notice a trend here).
- Mid-Level IT Managers: Among mid-level professionals (positions like IT audit managers, security officers, IT project managers and other management/team lead roles), the global average came in at $85,761. IT managers in Latin America trailed the pack with an average salary of $39,437 while their North American neighbors ranked #1 at $108,798.
- Senior IT Pros: Senior-level roles demonstrated a similar pattern in 2019. The global average of these positions (directors, chief security officers, senior engineers) came in at $109,689. Once again, Latin America had the lowest average at $46,155 while North America led the way at $136,604.
- The C-Suite: Finally, the global average salary for IT executives (chief technical officers, chief information officers, chief executive officers) in 2019 was an impressive $123,508, with North America at the top of the list at $160,474.
The overall global average annual salary for IT professionals was $89,732...the highest figure ever in the Global Knowledge IT Skills and Salary Report.
Broken down by region, the figures look like this:
- North America: $109,985 (23% more than global average)
- Europe, the Middle East and Africa (EMEA): $70,445
- Asia-Pacific: $65,738
- Latin America: $41,465
IT Salaries Trending Upward Globally
Despite trailing the field in average annual salary, Latin America is trending in the right direction, reporting the highest global salary increase from 2018 at 6.5%. North America was close behind at 5.8%, followed by EMEA at 5.6% and Asia-Pacific at 5.2%.
Needless to say, if the lowest average salary increase was more than 5%, it’s safe to proclaim 2019 as a very successful year for IT professionals. And assuming the trajectory continues upward, 2020 is shaping up to be an even more lucrative year for the IT workforce.