In 2023, the tech industry experienced a leveling off in salaries for many professionals, prompting questions about the impact on bonuses. According to Dice’s latest Tech Salary Report, 39 percent of tech professionals received bonuses, maintaining consistency with the previous year. The average bonus increased to $15,011 from $13,794 in 2022.

Encouragingly, nearly half of the surveyed tech professionals witnessed an increase in their bonuses last year. Despite high-profile layoffs, the report highlights that not all companies or tech professionals were affected similarly. Some tech professionals, even those laid off, likely received contractual bonuses from the preceding year.

Bonuses continue to be a significant income stream for tech professionals, constituting almost half of all additional income streams combined. However, the report notes a rise in the share of income generated by commissions, profit sharing, dependent care, and tuition assistance compared to 2022.

For those seeking new opportunities, companies are expanding benefits beyond traditional offerings like health insurance and paid vacation. Tech professionals are now being enticed with innovative perks such as child and elder care, fertility benefits, work-from-home stipends, and even pet insurance.

While the average tech salary in 2023 slightly decreased to $111,193 from $111,348 in 2022, the report emphasizes that highly specialized skills, especially in areas like cloud computing, still command notable salary increases. Despite overall fluctuations, the tech industry continues to evolve, offering a dynamic landscape for professionals.

By : Kruthiga V S

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