IT Salaries: Which Profession is Best Paid

IT Salaries

Information Technology (IT) is one of those exceptional sectors where salaries rise every year, and the unemployment rate is typically half compared to other fields. IT is a source of competitive advantage for many countries, impacting the digital economy worldwide. It has a massive influence on the world's course and the well-being of the global population, as it touches everything, from resource allocation to income distribution and growth.

Non-physical outputs such as service delivery, software and computing are the factors leading to the growth of the digital economy, and this of course will have an impact on salaries. Despite it being difficult to precisely quantify the contributions of IT to the economy, researchers consider that "the digital economy is worth $11.5 trillion globally, equivalent to 15.5 percent of global GDP, and has grown 2.5 times faster than global GDP over the past 15 years." However, while the sector performed better than many other industries during the pandemic, it was not immune to the global crisis.

According to 2020 IT Skills & Salary Report by Global Knowledge, cybersecurity and cloud computing are the top IT investment areas, meaning that for candidates it can be a good professional path to explore. The report helps the reader to have an idea of where to put the money, either for company investment or professional development, giving an insight into the global market, thanks to the data provided by big companies such as Google Cloud, Cisco, Microsoft, or IBM among others.

Ireland and the UK in the Top Five of Europe

The median annual wage for IT professions in Europe reaches up to $71,796, translated in pounds is around £50,600, but don't forget this is the average, and some professions like React Developers, one of the fastest growing roles in the UK in the last 12 months, is up to £60,000.
Going back to the average salaries, Ireland holds the third place in Europe, having a median annual wage of $87,154, which is around £61,500. While UK is in 5th place, with a median annual salary of $82,792, around £58,400. The country heading the list is Switzerland, with an average of $133,344, followed by Germany with $88,195, and in 4th place is Belgium with salaries of $85,899 per year.

USA, leading global salaries

IT professionals in the United States have an average annual salary of $120,491, around £85,000; while decision-makers earn $138,200 a year, around £97,500 per year. Again, this is only an average and salaries vary between locations around the States. In this sense, New jersey leads the score with an annual average of $145,688 (£102,746) followed by California with $138,941, around £98,000 per year, and Maryland in 3rd place with $134,814 (£95,077). Texas, one of the states where ShortList Recruitment also have offices, is in the top 10 of higher salaries in the USA. IT professionals earn an average of $122,122 per year, that translated into pounds is over £87,000.

According to the 2020 IT Skills & Salary Report by Global Knowledge, the 5 top IT jobs are: Technology Management earning an average of $161,483, Cloud Computing with $153,655 salary, IT Risk Management with $131,195 a year, Cyber Security with $128,726 and IT Architecture & Design, earning $128,441 per year.

Would you like more information regarding salaries, before your next big jump?

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