Long reads

Salary scales indicate it’s a great time to be in tech

Barry McCall

Barry McCall

Journalist, Jobbio

Demand for skilled IT professionals continues to rise with no sign of a let up. Specialist roles like scrum master, DevOps engineers, and network cloud architects are no longer the sole preserve of the software industry as organisations across the world accelerate their digitalisation programmes in response to the changed market landscape and altered working patterns ushered in by the Covid-19 pandemic.

The emergence and rapid growth of new sectors such as Fintech, Insuretech, and Regtech is further adding to demand for talent that was already in short supply across Europe, North America and much of the rest of the world. Growing cyber threats from state sponsored and other bad actors are also driving demand.

Indeed, tech has now emerged as one of those recession-proof industries, where demand and salaries rise almost regardless of prevailing market conditions.

Buoyant salary levels

Some indication of the buoyant salary levels on offer can be determined from a number of surveys carried out over the past two years. For example, research carried out by Robert Half and Glassdoor put the average annual salary of a scrum master in the US at $91,785 in 2021. However, Robert Half’s Technology Salary Guide for 2022 saw the average rise to $104,000.

Much the same picture emerges for DevOps engineers with the 2021 average coming in at slightly below $110,000 while the 2022 figure rose to $125,750.

The numbers were closer for data scientists with average earnings for 2022 put at $141,000 as opposed to $139,000 for 2021.

Unsurprisingly, the top salaries for 2022 are commanded by security and cloud specialists with the Robert Half survey pointing to average salaries of $143,000 and $157,000 for US based security analysts and information systems security managers respectively. The average salary for network/cloud architects was $153,750.

For software engineers, the US remains top dog when it comes to salaries. According to the Payscale salary comparison, the average salary for software engineers in the US in 2021 was $110,638. Switzerland led the way in Europe with an average of $95,394. Next was Norway at $64,202 followed by Denmark ($72,151), Germany ($60,162) for Germany, and the Netherlands ($54,025).

Interestingly, at just $42,000, the UK average is among the lowest in Western Europe. However, it should be noted that this figure may be skewed by the fact that most jobs posted tend to be for entry level positions and salaries tend to rise rapidly after that.

That point is well illustrated by Morgan McKinley’s salary calculator for Python developers’ earnings in 2021. With up to three years’ experience a developer can earn between £40,000 and £75,000 in London. With three to five years’ experience, that rises to between £75,000 and £95,000, and to between £90,000 and £130,000 for those with more than five years under their belts.

For Ireland, a developer with up to three years’ experience can earn between €40,000 and €50,000 rising to up to €70,000 for three to five years’ experience.

There are numerous roles currently on offer on the Finextra Jobs Board for IT professionals looking for a fresh challenge for those just starting out. Below are just a few examples.

Digital healthcare company Tendable is looking for an Android Developer to work in London, or remotely. The successful candidate will play a pivotal role in undertaking a major refactoring of the Tendable app from Java to Kotlin as well as work on the introduction of a new development and testing framework enabling the team to add new features on a regular basis.

Discover three more open roles below - and find many more interesting career opportunities on our Job Board.

Senior Software Engineer – Infrastructure, Shopify

Global e-commerce giant Shopify is looking for a Senior Software Engineer – Infrastructure to work remotely in Europe.

Senior Software Engineers work with the Shopify Production Engineering team to build and maintain Shopify’s critical infrastructure through software and systems engineering. Some of the technology that the team uses include Ruby, Rails, Go, Kubernetes, MySQL, Redis, Memcached, Docker, Distributed Systems, and Google Cloud.

Web Software Engineer - Full Stack, PayPal

Digital payments and financial services company PayPal is looking for a Software Engineer to work on everything from the front-end through the back end and create, test, and deploy software experiences.

Senior Penetration Tester, Robinhood

Leading stock trading fintech Robinhood is looking for a Senior Penetration Tester to perform threat modelling against critical and new services and articulate the actual security risk to risk working groups.

The successful candidate will also perform application assessments, internal and external penetration testing focusing not just on network and application level vulnerabilities but fully understand what risk to Robinhood the vulnerabilities pose especially as they relate to business logic and fraud opportunities.

And there is good news for those who may be concerned about continued growth prospects. TechTarget has estimated jobs growth in the US through to 2029 for some of the key roles with very encouraging, not to say startling results. Topping the list is information security analyst at 31%; next come software developer and DevOps engineers at 22% each while data scientist roles will also have very healthy growth of 15%.

If you’re looking to boost your tech salary in 2022, discover many more open roles on our Job Board.

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