On this latest episode of ‘Tech Connects,’ we’re talking with Art Zeile, CEO of DHI Group, the parent company of Dice, about the latest Dice Tech Salary Report. Every year, we survey thousands of tech professionals for the Report’s breakdown of tech industry salary, benefits, and much more.

This is the 20th annual edition of the Tech Salary Report, and we’re taking this opportunity to analyze how tech compensation has evolved over the long term. Yes, overall tech salaries have risen steadily since 2005, reaching an average of $112,521 in 2024, but you need to take inflation into account: Today's average tech salary, when adjusted for purchasing power, is almost exactly what professionals earned in 2005 ($112,521 versus inflation-adjusted $112,350).

This suggests that, despite periodic surges, compensation in tech overall has effectively plateaued over nearly two decades. For those tech professionals who want to earn massive compensation, it’s critical to stay current on the tech industry’s latest developments, and to focus on learning the latest and most in-demand skills (in our current era, that includes cloud engineering and artificial intelligence). We’re going to break that down—along with so much more—in our chat with Art.

Art always has great insights into the tech industry. Here are some key takeaways from our chat:

• Boost Your Salary with In-Demand Skills: The report shows a significant salary increase for professionals with skills like AI, cloud computing, cybersecurity, etc. As we mentioned above, focus on learning these skills to close the salary gap and become more attractive to employers.

• Companies Need to Offer Competitive Compensation & Growth: Inflation and stagnant salaries are leading to dissatisfaction among tech professionals. Companies need to offer competitive compensation packages and opportunities for learning and career advancement to retain their talent.

• Leverage Internal Learning Resources: Many companies offer internal resources like online subscriptions and conferences to help employees develop new skills. Take advantage of these resources to stay up-to-date and increase your value.

• Explore AI and Prompt Engineering: Gaining knowledge of AI and prompt engineering is crucial for the future of tech careers. Start by learning the basics of AI and how it can be applied to your field.

• The Future of Work is Hybrid: While some companies might push for full-time in-office work, the trend suggests a hybrid model is more likely. Focus on finding a company that offers flexibility and a good work-life balance.

We covered a lot more during the discussion, so please give it another listen if you missed anything. For even more information on compensation, benefits, and everything else that matters so much to tech professionals, check out the Dice Tech Salary Report!

Hosted on Acast. See acast.com/privacy for more information.