Ever wondered how that six-figure tech salary compares to your industry?
Key Takeaways
- The median annual wage for workers in the information technology industry in the US was $104,420 as of May 2023.
- The average salary for finance and insurance sector employees in the US reached $82,150 median in May 2023.
- Healthcare and social assistance industry median annual wage stood at $42,340 in the US for May 2023.
- Median annual wage for software developers in US was $132,270 May 2023.
- Physicians and surgeons median pay $239,200 yearly US 2023 BLS.
- Dentists median salary $170,910 in US May 2023.
- The median annual wage for all occupations in the US increased by 4.6% from May 2022 to May 2023.
- US average hourly earnings rose 4.1% year-over-year in December 2023 per BLS.
- Real median household income in the US fell 2.3% to $74,580 in 2022 from 2021.
- California state median annual wage was $66,990 in May 2023.
- New York median wage reached $70,650 yearly May 2023 US.
- Washington DC area median salary $82,430 in May 2023.
- Median wage for high school graduates without diploma $35,360 US 2023.
- High school diploma holders median wage $42,680 annually US.
- Some college no degree median salary $48,500 US 2023.
Salaries vary significantly across US industries and job roles.
Demographic Salaries
- Median wage for high school graduates without diploma $35,360 US 2023.
- High school diploma holders median wage $42,680 annually US.
- Some college no degree median salary $48,500 US 2023.
- Associate degree median wage $59,200 yearly US BLS.
- Bachelor's degree holders averaged $75,400 median US 2023.
- Master's degree median salary $92,100 annually US.
- Doctoral degree median wage $108,300 US 2023 BLS.
- Professional degree median pay $110,200 yearly US.
- Women earned 84% of men's median weekly earnings in 2023 US.
- Black workers median weekly earnings $992 vs $1,256 white in 2023.
- Hispanic median weekly pay $926 in US 2023 BLS.
- Asian workers highest median $1,505 weekly US 2023.
- Workers aged 25-34 median wage $62,400 US 2023.
- 35-44 age group median salary $72,800 annually US.
- 45-54 workers median wage $78,500 US 2023 BLS.
- 55-64 age median pay $68,900 yearly US.
- Less than 1 year experience median wage $40,200 US Payscale.
- 1-4 years experience average $52,300 median US 2023.
- 5-9 years experience median salary $65,700 US.
- 10-19 years median wage $80,400 annually US 2023.
- 20+ years experience average $95,600 median US.
- Married men median weekly earnings $1,345 vs single $1,000 in 2023.
- Full-time mothers median $60,200 vs fathers $95,400 US 2023.
Demographic Salaries Interpretation
Education remains a powerful but uneven escalator, carrying you higher while also revealing the stubborn cracks of gender, race, and privilege in every step.
Geographic Salaries
- California state median annual wage was $66,990 in May 2023.
- New York median wage reached $70,650 yearly May 2023 US.
- Washington DC area median salary $82,430 in May 2023.
- Massachusetts median annual wage $70,790 US May 2023.
- Texas median wage was $52,330 in May 2023 BLS.
- Florida state workers median salary $49,210 yearly 2023.
- San Francisco metro median wage $84,760 May 2023.
- New York City metro area median $72,980 annually 2023.
- Seattle metro median salary $76,450 US May 2023.
- Boston metro wages averaged $74,210 median 2023.
- Washington-Arlington metro median $90,120 May 2023.
- Los Angeles metro median wage $63,360 yearly US 2023.
- Chicago metro area median salary $60,990 May 2023.
- Dallas metro median wage $57,210 annually 2023.
- Atlanta metro median $58,760 US May 2023.
- UK London average salary £45,000 in 2023 ONS.
- Germany national median wage €45,800 yearly 2022.
- Switzerland median salary CHF 80,000 annually 2023.
- Australia Sydney median wage AUD 85,000 2023.
- Canada Toronto average salary CAD 70,000 yearly 2023.
Geographic Salaries Interpretation
The West Coast and Northeast seem to be winning the paycheck popularity contest, while the South is politely asking for a raise and the crown for truly eye-watering salaries goes to Washington, D.C., where a federal paycheck apparently buys you a very expensive metro ride.
Industry Salaries
- The median annual wage for workers in the information technology industry in the US was $104,420 as of May 2023.
- The average salary for finance and insurance sector employees in the US reached $82,150 median in May 2023.
- Healthcare and social assistance industry median annual wage stood at $42,340 in the US for May 2023.
- Manufacturing sector workers had a median wage of $50,470 annually in the US as per May 2023 BLS data.
- Retail trade industry median salary was $35,450 per year in the US in May 2023.
- Professional, scientific, and technical services sector averaged $82,910 median wage in US May 2023.
- Construction industry median annual earnings were $52,880 for US workers in May 2023.
- Educational services median wage hit $54,200 yearly in the US per May 2023 data.
- Accommodation and food services sector had $32,390 median salary in US May 2023.
- Transportation and warehousing industry median was $49,280 annually in US 2023.
- Utilities sector employees earned a median $86,660 per year in US May 2023.
- Wholesale trade median wage was $68,810 in the US for May 2023.
- Arts, entertainment, and recreation industry averaged $38,450 median in US 2023.
- Mining, quarrying, and oil/gas extraction had $89,040 median salary US May 2023.
- Administrative and support services sector median was $39,160 yearly US 2023.
- Real estate and rental/leasing industry median wage $57,910 in US May 2023.
- Management of companies median salary reached $108,160 annually US 2023.
- Waste management services had $50,970 median wage in US May 2023.
- Agriculture, forestry, fishing, hunting median $35,490 US May 2023.
- Other services (except public admin) median $45,670 yearly US 2023.
- In the tech industry, software publishing firms paid median $127,030 in US 2023.
- Pharmaceutical manufacturing median wage $88,550 US May 2023.
- Motion picture/video industries averaged $72,910 median US 2023.
- Legal services sector median $84,250 yearly US May 2023.
- Accounting services had $79,910 median wage US 2023.
- Architectural services median $82,840 in US May 2023.
- Computer systems design median $104,420 US 2023.
- Management consulting services averaged $98,760 median US May 2023.
- UK finance sector average salary was £62,000 in 2023 per ONS.
Industry Salaries Interpretation
While Silicon Valley's coders chase six-figure dreams and Wall Street's financiers count their bonuses, the real national pastime is a sobering game of "who's heating the house and who's just microwaving the ramen," with the hospitality and retail sectors often left holding the cold cup noodles.
Occupational Salaries
- Median annual wage for software developers in US was $132,270 May 2023.
- Physicians and surgeons median pay $239,200 yearly US 2023 BLS.
- Dentists median salary $170,910 in US May 2023.
- Chief executives earned median $206,680 annually US 2023.
- Nurse anesthetists median wage $212,650 US May 2023.
- Computer and information systems managers $169,510 median US 2023.
- Actuaries median pay $120,000 yearly US May 2023.
- Airline pilots median salary $171,210 in US 2023 BLS.
- Financial managers earned $156,100 median annually US May 2023.
- Marketing managers median wage $156,580 US 2023.
- Lawyers median salary $145,760 yearly US May 2023.
- Sales managers averaged $135,160 median US 2023 BLS.
- IT managers median pay $169,510 in US May 2023.
- Pharmacists earned $136,030 median annually US 2023.
- Optometrists median wage $131,860 US May 2023.
- Physical therapists median salary $99,710 yearly US 2023.
- Occupational therapists averaged $96,370 median US May 2023.
- Speech-language pathologists median pay $89,290 US 2023.
- Registered nurses earned $86,070 median annually US May 2023.
- Accountants and auditors median wage $81,220 US 2023 BLS.
- Human resources managers $136,350 median US May 2023.
- Civil engineers median salary $95,890 yearly US 2023.
- Mechanical engineers averaged $99,510 median US May 2023.
- Electrical engineers median pay $106,950 US 2023.
- Data scientists earned $108,020 median annually US May 2023.
- Web developers median wage $84,960 US 2023 BLS.
- Graphic designers averaged $61,300 median US May 2023.
Occupational Salaries Interpretation
While your coding skills might help you avoid a root canal, the data confirms that navigating a patient's airway or the corporate tax code still pays better than navigating your own imposter syndrome.
Salary Trends
- The median annual wage for all occupations in the US increased by 4.6% from May 2022 to May 2023.
- US average hourly earnings rose 4.1% year-over-year in December 2023 per BLS.
- Real median household income in the US fell 2.3% to $74,580 in 2022 from 2021.
- Wage growth for production and nonsupervisory employees was 4.0% in 2023 US.
- CEO pay in S&P 500 companies averaged $16.3 million in 2022, up 12% from prior year.
- Minimum wage workers' real wages declined 2.4% from 2021 to 2022 in US.
- US median weekly earnings for full-time workers rose 4.3% in Q4 2023.
- Healthcare wages increased 4.8% from 2022 to 2023 in the US.
- Inflation-adjusted wages stagnated for bottom 50% earners 2019-2023 US.
- Entry-level salaries rose 6.1% in 2023 for college grads US.
- Gender pay gap narrowed to 16% in US full-time workers 2023.
- Remote work premium declined from 20% to 8% salary boost 2021-2023.
- Union workers' wages grew 4.7% vs 3.9% non-union in 2023 US.
- Gig economy average hourly pay reached $28 in 2023 US.
- Executive bonuses increased 15% in 2023 for Fortune 500 firms.
- High school grads' wages up 3.2% nominally 2022-2023 US.
- Bachelor's degree holders saw 3.8% wage growth 2022-2023.
- Advanced degree wages rose 4.2% in 2023 US BLS.
- Overall US wage inflation cooled to 3.9% by end-2023.
Salary Trends Interpretation
While many workers celebrated modest raises that barely outpaced inflation—if at all—the C-suite enjoyed a lavish twelve percent pay hike, proving that the rising tide of the economy lifts the yachts far more than the dinghies.
Sources & References
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