New York City is one of the most popular cities in the world. Filled with famous sites, tourism, and entertainment, not many of us are aware of the tremendous amount of tech talent and employment trends. We will take a look at what is happening in the IT sector of New York City, including salaries and the demand for different technology specialists.
Salary Trends in New York City
When looking at tech workers, software engineers, product managers, data scientists, and product designers were included in the research. In 2015, the average annual salary was $121,000. This increased by just a thousand dollars in 2016 but average salaries increased far more in the next year to $129,000. By 2018, the average salary for a tech worker in New York City was $133,000.
Though companies are working hard to increase diversity within the IT, it is still very much a male-dominated industry. In 2019, statistics showed that 60% if men were offered a higher salary for the same role as women and even in the same company. On average, women are paid 3% less than men for identical roles. Luckily the wage gap is smallest among those in their 20s, which is a positive sign of changing mentalities.
Trending IT Jobs in New York City
Local demand for IT specialists is generally quite high, as it is in major cities around the world. By looking at real jobs posted on the employment website Hired, we can see that in 2019 Gaming Engineers were in the most demand with average salaries of $147,000. Below are the next four most popular trending IT jobs in New York.
- Blockchain Engineer- average annual salary- $137,000
- Backend Engineer- average annual salary- $136,000
- Full Stack Engineer- average annual salary- $133,000
- Mobile Engineer- average annual salary- $132,000
Trending Language Programming Skills in New York City
Top Employer Brands in New York City
An employer brand is the image and reputation we have of a company as an employer. It can encompass many aspects of salaries offered to the candidate experience. During the hiring process. Those companies that are able to maintain a positive employer brand are more likely to have a dedicated, high-quality team of experts who drive forward innovation.
Companies with an excellent employer brand are very much aware of three key insights that were highlighted in a recent research:
- If offered a higher salary, 80% of tech workers would leave their present job
- 59% of tech workers feel that is their job wasn’t challenging enough, they would leave it for another one
- If a company were not interested in their own company mission, 45% of tech workers would find another job
While a high salary is still critical, this is to be expected in a city with high costs of living. Nevertheless, the study showed that money is not the only thing that companies need to be able to offer.
Tech workers should look forward to these continuing trends as IT is only set to get bigger in the foreseeable future. As New York companies continue to fight the battle against equality and gender wage gaps, both men and women will be able to enjoy high salaries in a city that already has so much to offer.