2023 IT Pay Holds Steady Despite Economic Pressures and AI Boom

2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.

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2023 IT Pay Holds Steady Despite Economic Pressures and AI Boom
Rokas Tenys via Alamy

In 2022, employers continued their hunt for IT talent in the residual tidepools of a waning pandemic. Strapped with a survivalist’s hodgepodge mix of technologies and slap-hazard networks, companies needed more IT hands on deck to mop up tech redundancies and security hazards, and to restore the order needed to prosper in the ‘new normal’ aftermath. As a result, IT professionals saw a rise in job openings, salaries, and bonuses. Over 75% of respondents of the 2023 US Network Computing Salary Report saw their salaries rise—by an average of 4%. 

However, rising economic headwinds are putting a strain on IT investment. “Outside AI, IT job security has been reduced, and there is some anecdotal evidence that salaries are impacted,” said Ravi Jain, Chair, Association for Computing Machinery’s US Technology Policy Committee, Working Group on Generative AI. “This is partly due to the macro issues affecting the industry resulting in uncertainty and reduced investment. These issues include inflation, rising interest rates, the banking crisis, supply chain issues, and the war in Ukraine.”

Against this backdrop, where will IT wages and advancement opportunities go from here?

The 2023 US Network Computing Salary Report takes a deep dive into data on:

  • Salary Trends

  • Raises & Bonuses

  • Salary Parity

  • IT Career Paths

  • Job Satisfaction

  • Gender Pay Gap

Find out how you compare. Download this free report today!

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