Despite a hiring slowdown that began last year, many tech workers continue to insist on sizable salaries, according to the Technology and Digital Salary Survey 2023 North America report by Lorien, an IT staffing provider and part of Impellam Group.
Their demands come even as wage inflation appears to have hit a peak, the report said.
“Employers need to understand that demand for tech skills remains strong despite the recent hiring slowdown in the sector,” Ryan McMahon, president of Lorien in North America, said in a press release. “With many companies continuing to invest in digitalization and transformation, long-term needs for specialized skills will continue.”
The proliferation of AI tools and platforms are among trends highlighted in the report. AI-related skills on job boards have increased by 450%, according to Lorien which cited data from Computerworld.
“Additionally, the promise of AI is leading many companies to seek out talent that can optimize the use of such technologies, which will further drive demand today and in the future,” McMahon said.
The average salary for an AI engineer is $157,643 per year, while the salary for a chief data officer is $324,272 per year, according to the report. For high demand areas, the average salary for AI engineers is $165,037 and the average salary for chief data officers is $350,875.
High demand areas include Silicon Valley; Seattle; Austin, Texas; and New York City.
Cybersecurity is another hot spot.
Salaries were high for cybersecurity professionals. The report noted the average salary for a chief information security officer is $349,856 per year while the average salary for head of cybersecurity is $372,590. The high-demand area salaries are $380,036 and $409,770, respectively.
Separately, the TechServe Alliance reported today that IT employment was roughly flat in August, falling just 1,300 jobs from July.