Technology has quickly become a top priority for businesses across every industry. So much so that IT roles are no longer just the purview of the IT department. Every business unit has a stake in the IT services, apps, networks, hardware, and software needed to meet business goals and objectives, and many of them are hiring their own technologists.
While Silicon Valley still pays top dollar for IT pros, the war for talent has moved beyond the technology industry, with other verticals vying for talented IT workers who have the skills to enable digital transformation, process improvement, change management, and the development of apps and services. And as the demand for tech talent grows in industries beyond tech, salaries are on the rise in fields such as consulting, finance, hospitality, and more.
Here are the 10 industries with the highest tech salaries, and how much they’ve increased in value since 2021, according to the 2023 Dice Tech Salary Report.
1. Consulting
In the consulting industry, technology has become an important tool for making decisions, designing solutions, improving processes, and providing insights on optimizing business strategy. You’ll find plenty of IT consulting jobs available, a role that helps organizations identify technology solutions and strategies for improving their hardware, software, networks, and other IT infrastructure. Consulting firms are increasingly turning to tech talent to help build in-house platforms, according to the report from Dice. There’s a demand for skills such as cybersecurity, cloud, IT project management, UX/UI design, change management, and business analysis.
Average salary: US$131,995
Increase since 2021: 0%
2. Healthcare
Technology is paramount for the healthcare industry, including the medical, pharmaceutical, and biotechnology industries. Technology has evolved at a rapid pace in healthcare settings, spiking a demand for talented IT and tech professionals. It’s an industry that handles critical, private, and sensitive data so there’s a consistent demand for cybersecurity and data professionals. But you’ll also find a high demand for software engineers, data analysts, business analysts, data scientists, systems administrators, and help desk technicians. It’s an industry that can also offer some stability to tech workers, since there will always be a need for tech workers to help keep a vital industry running.
Average salary: US$129,118
Increase since 2021: +3.4%
3. Finance
The demand for tech workers in the finance industry has only continued to grow as financial services have moved online. Even internally, finance companies such as Discover, have focused on building IT and tech training platforms to upskill workers to help meet the rapidly growing need for talent. There’s a high demand for software engineers, data engineers, business analysts and data scientists, as finance companies move to build in-house tools and services for customers. There’s also a push for digital transformation in the industry, with companies looking to integrate new and emerging technology, while modernizing legacy finance tech.
Average salary: US$128,571
Increase since 2021: 0%
4. Software
The software industry is a natural fit for IT jobs, seeing as it’s an industry that fully relies on technology. There is always a demand for knowledgeable IT pros who can help organizations design, develop, implement, and maintain software products and services. There’s a broad range of roles that fall under the software industry, the most obvious ones being software developer and engineer. But you’ll also find demand for quality assurance, DevOps, technical support, and software sales engineers. There’s also a need for project managers, product managers, cybersecurity professionals, data scientists, database administrators, and software architects.
Average salary: US$124,071
Increase since 2021: 0%
5. Aerospace and defense
It likely comes as no surprise that there’s a high demand for engineers in the aerospace and defense industry including avionics, systems, AI, software, network, quality assurance, robotics, radio frequency (RF), simulation, flight test, and manufacturing engineers. But you’ll also find demand for other technology roles such as cybersecurity analyst, project manager, aerospace technologist, geospatial analyst, communications specialists, software tester, technical writer, and data analyst. It’s an industry that consistently needs skilled IT and tech workers with the expertise to develop, design, maintain, and implement complex aerospace systems, while ensuring they remain safe and secure.
Average salary: US$121,560
Increase since 2021: +2.9%
6. Consumer products
The consumer products industry has seen massive growth in IT salaries, rising just over 14% since 2021, buoyed by a high demand for talent. Knowledge areas especially vital to the consumer products industry include e-commerce, digital marketing, supply chain management, and mobile app development. Other relevant roles include security professionals, project managers, UX/UI designers, product managers, data analysts, and business analysts. There’s a demand for skills around product optimization, customer service management, tracking digital and marketing trends, demand forecasting, data-driven decision making, improving efficiency, lowering costs, and navigating supply-chain management.
Average salary: US$121,052
Increase since 2021: +14.4%
7. Entertainment
At first thought, you might not think of the entertainment industry as having a high demand for IT roles, but there’s plenty of need for skilled tech professionals. Technology is a cornerstone to developing movies, video games, live events, music, and television shows. There’s typically a high demand for multimedia developers, video game developers, virtual reality developers, and production technologists. There’s also a growing need for streaming platform engineers, now that streaming services dominate for TV and movies. Other vital roles include project manager, security specialist, web developer, data analyst, and systems administrator.
Average salary: US$119,921
Increase since 2021: +0.1%
8. Utilities/Energy
You’ll find demand for some unique job titles in the utilities and energy industries, including SCADA engineer, renewable energy engineer, smart metering specialist, grid modernization specialist, energy data analyst, energy efficient consultant, GIS specialist, and energy storage engineer. There’s also a demand for more typical IT roles such as project manager, data scientist, cybersecurity professional, RPA developer, IoT engineer, asset management specialist, data center manager, and more. The industry has a demand for highly-skilled IT pros who have the skills and knowledge to navigate complex and technical systems and networks.
Average salary: US$118,498
Increase since 2021: +3.6%
9. Telecommunications
IT jobs are a natural fit for the telecommunications industry, given that it is fully dependent on technology. You’ll find demand for nearly every IT job you can think of, including project manager, software developer, systems analyst, network engineer, security specialist, data analyst, radio frequency (RF) engineer, cloud engineer, and consultants. There’s a broad range of job roles available, and you’ll be hard pressed to find an IT job title that doesn’t fall under the umbrella of telecommunications. And for an industry that has relied on technology since the start, there has still been a nearly 7% increase in the average tech salary since 2021, suggesting the demand only continues to grow.
Average salary: US$115,940
Increase since 2021: +6.8%
10. Insurance
As insurance companies turn to digital services, the industry has seen growth in demand for IT workers who can help build, deploy, and maintain internal and external apps and services. In order to meet the growing demand for tech talent, companies such as Progressive have invested in internal upskilling bootcamp programs to help close the skills gap. Similar to the healthcare industry, the insurance industry deals with a high volume of often sensitive and confidential data, so there’s typically a demand for cybersecurity and data workers, in addition to developers and engineers. And as more insurance companies develop client-facing apps and services, there’s a need for UX/UI designers, developers, and engineers.
Average salary: US$114,522
Increase since 2021: 0%
