The ten highest-paying industries for IT expertise

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

Whereas Silicon Valley nonetheless pays high greenback for IT execs, the struggle for expertise has moved past the know-how trade, with different verticals vying for proficient IT staff who’ve the talents to allow digital transformation, course of enchancment, change administration, and the event of apps and providers. And because the demand for tech expertise grows in industries past tech, salaries are on the rise in fields reminiscent of 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 could 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 know-how roles reminiscent of cybersecurity analyst, venture supervisor, aerospace technologist, geospatial analyst, communications specialists, software program tester, technical author, and information analyst. It’s an trade that constantly wants expert IT staff with the experience to develop, design, keep, and implement advanced aerospace techniques, whereas making certain they continue to be protected 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 may also help software program distributors design, develop, implement, and keep their services. 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, information 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 know-how turns into a cornerstone of all facets of healthcare. These industries have embraced new and rising applied sciences reminiscent of AI and ML to enhance medical units, diagnostics, software program instruments, and to revolutionize medication. There’s demand for information scientists, builders, analysts, engineers, and people with expertise in compliance, cybersecurity, synthetic intelligence, and machine studying. There’s a robust concentrate on information safety and privateness, advancing analysis and growth, and constructing proprietary platforms for healthcare clients in these verticals, and fascinating rising know-how to create higher software program and diagnostic instruments can also be on the rise.

Common wage: US$128,141

Change since 2022: -0.8%

4. Banking/Finance

The demand for tech staff within the finance trade has solely continued to develop as monetary providers have moved on-line. Even internally, finance firms reminiscent of Uncover, have centered on constructing IT coaching platforms to upskill staff to assist meet the quickly rising want for expertise. There’s a excessive demand for software program engineers, information engineers, enterprise analysts, and information scientists, as finance firms transfer to construct in-house instruments and providers for purchasers. There’s additionally a push for digital transformation within the sector, with firms 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, know-how has develop into an necessary instrument for making choices, designing options, bettering processes, and offering insights on optimizing enterprise technique. You’ll discover loads of IT consulting jobs out there, a job that helps organizations determine know-how options and techniques for bettering their {hardware}, software program, networks, and different IT infrastructure. Consulting corporations 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 reminiscent of cybersecurity, cloud, IT venture administration, UX/UI design, change administration, and enterprise evaluation.

Common wage: US$125,160

Change since 2023: -5.2%

6. Utilities/Vitality

You’ll discover demand for distinctive job titles within the utilities and vitality industries, together with SCADA engineer, renewable vitality engineer, sensible metering specialist, grid modernization specialist, vitality information analyst, vitality environment friendly guide, GIS specialist, and vitality storage engineer. There’s additionally a requirement for extra typical IT roles reminiscent of venture supervisor, information scientist, cybersecurity skilled, RPA developer, IoT engineer, asset administration specialist, information 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 firms flip to digital providers, the trade has seen development in demand for IT staff who may also help construct, deploy, and keep inner and exterior apps and providers. As a way to meet the rising demand for tech expertise, firms reminiscent of Progressive have invested in inner upskilling bootcamp applications to assist shut the talents hole. Much like the healthcare trade, the insurance coverage trade offers with a excessive quantity of typically delicate and confidential information, so there’s usually a requirement for cybersecurity and information staff, along with builders and engineers. And as extra insurance coverage firms develop client-facing apps and providers, there’s a necessity for UX/UI designers as nicely.

Common wage: US$117,612

Change since 2022: +2.7%

8. Healthcare

Know-how 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, personal, and delicate information so there’s a constant demand for cybersecurity and information professionals. However you’ll additionally discover excessive demand for software program engineers, information analysts, enterprise analysts, information scientists, techniques directors, and assist desk technicians. It’s an trade that may additionally supply some stability to tech staff, since there’ll at all times be a necessity for tech staff to assist hold an important 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 know-how. You’ll discover demand for almost each conventional IT function, together with venture supervisor, software program developer, techniques analyst, community engineer, safety specialist, information analyst, radio frequency (RF) engineer, cloud engineer, and consultants. In actual fact, you’ll be onerous pressed to seek out an IT job title that doesn’t fall below the umbrella of telecommunications.

Common wage: US$114,368

Change since 2022: -1.4%

10. Leisure

The leisure trade won’t look like a sector with a excessive demand for IT roles, however there’s loads of want for expert tech professionals. Know-how is a cornerstone to creating films, 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 providers dominate for TV and films. Different very important roles embrace venture supervisor, safety specialist, internet developer, information analyst, and techniques administrator.

Common wage: US$113,860

Change since 2022: -5.1%