The ten highest-paying industries for IT expertise – Cyber Tech

Expertise has shortly turn into a high precedence for companies throughout each trade. A lot in order that IT roles are now not simply the purview of the IT division. Each enterprise unit has a stake within the IT companies, apps, networks, {hardware}, and software program wanted to satisfy enterprise targets and goals, and lots of of them are hiring their very own technologists.

Whereas Silicon Valley nonetheless pays high greenback for IT execs, the conflict for expertise has moved past the expertise trade, with different verticals vying for proficient IT employees who’ve the talents to allow digital transformation, course of enchancment, change administration, and the event of apps and companies. And because the demand for tech expertise grows in industries past tech, salaries are on the rise in fields equivalent to consulting, finance, aerospace, protection, and extra.

Listed here are the ten industries with the best tech salaries, and the way a lot they’ve elevated in worth since 2022, in response to the 2024 Cube Tech Wage Report.

1. Aerospace and Protection

It might come as no shock that there’s excessive demand for engineers within the aerospace and protection trade, together with avionics, techniques, AI, software program, community, high quality assurance, robotics, radio frequency (RF), simulation, flight take a look at, and manufacturing engineers. However you’ll additionally discover demand for different expertise roles equivalent to cybersecurity analyst, mission supervisor, aerospace technologist, geospatial analyst, communications specialists, software program tester, technical author, and knowledge analyst. It’s an trade that constantly wants expert IT employees with the experience to develop, design, preserve, and implement advanced aerospace techniques, whereas guaranteeing they continue to be secure and safe.

Common wage: US$130,574

Change since 2022: +7.4%

2. Software program

The software program trade is a pure match for IT jobs, and there may be at all times demand for IT execs who will help software program distributors design, develop, implement, and preserve their services and products. A broad vary of IT roles assist gas the software program trade, the obvious being software program builders and engineers. However you’ll additionally discover demand for high quality assurance, DevOps, technical help, and software program gross sales engineers. Challenge managers, product managers, cybersecurity professionals, knowledge scientists, database directors, and software program architects are additionally in excessive demand within the software program sector.

Common wage: US$130,559

Change since 2022: +5.2%

3. Medical/Pharmaceutical/Biotechnology

The medical, pharmaceutical, and biotechnology industries supply profitable profession avenues for IT execs as expertise turns into a cornerstone of all points of healthcare. These industries have embraced new and rising applied sciences equivalent to AI and ML to enhance medical units, diagnostics, software program instruments, and to revolutionize drugs. There’s demand for knowledge scientists, builders, analysts, engineers, and people with expertise in compliance, cybersecurity, synthetic intelligence, and machine studying. There’s a powerful concentrate on knowledge safety and privateness, advancing analysis and growth, and constructing proprietary platforms for healthcare clients in these verticals, and interesting rising expertise to create higher software program and diagnostic instruments can be on the rise.

Common wage: US$128,141

Change since 2022: -0.8%

4. Banking/Finance

The demand for tech employees within the finance trade has solely continued to develop as monetary companies have moved on-line. Even internally, finance corporations equivalent to Uncover, have targeted on constructing IT coaching platforms to upskill employees to assist meet the quickly rising want for expertise. There’s a excessive demand for software program engineers, knowledge engineers, enterprise analysts, and knowledge scientists, as finance corporations transfer to construct in-house instruments and companies for purchasers. There’s additionally a push for digital transformation within the sector, with corporations seeking to combine new and rising applied sciences, whereas modernizing legacy finance tech.

Common wage: US$126,226

Change since 2022: 1.8%

5. Consulting

Within the consulting trade, expertise has turn into an essential device for making selections, designing options, bettering processes, and offering insights on optimizing enterprise technique. You’ll discover loads of IT consulting jobs out there, a task that helps organizations determine expertise options and techniques for bettering their {hardware}, software program, networks, and different IT infrastructure. Consulting companies are more and more turning to tech expertise to assist construct in-house platforms, in response to the report from Cube. There’s a requirement for expertise equivalent to cybersecurity, cloud, IT mission administration, UX/UI design, change administration, and enterprise evaluation.

Common wage: US$125,160

Change since 2023: -5.2%

6. Utilities/Power

You’ll discover demand for distinctive job titles within the utilities and power industries, together with SCADA engineer, renewable power engineer, good metering specialist, grid modernization specialist, power knowledge analyst, power environment friendly marketing consultant, GIS specialist, and power storage engineer. There’s additionally a requirement for extra typical IT roles equivalent to mission supervisor, knowledge scientist, cybersecurity skilled, RPA developer, IoT engineer, asset administration specialist, knowledge middle supervisor, and extra. The trade has a requirement for extremely expert IT execs who can navigate advanced, technical techniques and networks.

Common wage: US$119,880

Change since 2022: +1.2%

7. Insurance coverage

As insurance coverage corporations flip to digital companies, the trade has seen development in demand for IT employees who will help construct, deploy, and preserve inside and exterior apps and companies. As a way to meet the rising demand for tech expertise, corporations equivalent to Progressive have invested in inside upskilling bootcamp packages to assist shut the talents hole. Just like the healthcare trade, the insurance coverage trade offers with a excessive quantity of usually delicate and confidential knowledge, so there’s usually a requirement for cybersecurity and knowledge employees, along with builders and engineers. And as extra insurance coverage corporations develop client-facing apps and companies, there’s a necessity for UX/UI designers as nicely.

Common wage: US$117,612

Change since 2022: +2.7%

8. Healthcare

Expertise has developed at a fast tempo in healthcare settings, spiking a demand for proficient IT and tech professionals. It’s an trade that handles crucial, non-public, and delicate knowledge so there’s a constant demand for cybersecurity and knowledge professionals. However you’ll additionally discover excessive demand for software program engineers, knowledge analysts, enterprise analysts, knowledge scientists, techniques directors, and assist desk technicians. It’s an trade that may additionally supply some stability to tech employees, since there’ll at all times be a necessity for tech employees to assist hold a significant trade operating. 

Common wage: US$117,578

Change since 2022: +4.5%

9. Telecommunications

IT jobs are a pure match for the telecommunications trade, on condition that it’s totally depending on expertise. You’ll discover demand for almost each conventional IT position, together with mission supervisor, software program developer, techniques analyst, community engineer, safety specialist, knowledge analyst, radio frequency (RF) engineer, cloud engineer, and consultants. Actually, you’ll be exhausting pressed to search out an IT job title that doesn’t fall beneath the umbrella of telecommunications.

Common wage: US$114,368

Change since 2022: -1.4%

10. Leisure

The leisure trade may not look like a sector with a excessive demand for IT roles, however there’s loads of want for expert tech professionals. Expertise is a cornerstone to growing motion pictures, video video games, stay occasions, music, and tv exhibits. There’s usually excessive demand for multimedia builders, online game builders, digital actuality builders, and manufacturing technologists. There’s additionally a rising want for streaming platform engineers, now that streaming companies dominate for TV and films. Different important roles embrace mission supervisor, safety specialist, net developer, knowledge analyst, and techniques administrator.

Common wage: US$113,860

Change since 2022: -5.1%