Take These 5 Steps To Get A 6-Figure Tech Salary In 2024

Ever wondered what your peers and colleagues earn? Increasingly, you can find out thanks to pay transparency legislation and regulations, which are rolling out across the country.

Enacted at the state and city level, you can now expect to receive open information about salary in 16 U.S. locations, which include the states of California, Illinois and Hawaii, as well as Jersey City and New York City.

And most recently, Minnesota governor Tim Walz signed a pay transparency bill into law in May. It will come into effect at the start of 2025, and will require employers with 30 or more employees to provide salary ranges on job postings.

3 software roles to apply for this week

• Software Developer, Accenture Federal Services, Fort Liberty ($83,800-$170,200)
• Software Engineer, Progress Rail, Albertville
• Software Engineer, iLending, Englewood

Right now, the median annual wage for all occupations is $48,060, according to recent data from the U.S. Bureau of Labor Statistics. That amount may seem low to some tech workers, who, depending on their skills, location and experience, may be earning many multiples of that figure.

But for many others in the industry, understanding what companies are paying for specific roles can be an eye-opener. Review websites such as Glassdoor provide a snapshot, but as its salary figures will be based on user feedback, if the sample is small, the data may not be 100% accurate.

Still, it acts as a general guide, and now that many job descriptions also contain salary info, it makes it that much easier to see what those $100k jobs are. This is a figure many Americans see as the number to achieve, and with 18% of individuals making $100k or over per year, it's a club lots of workers want to join.

Salary transparency and checking job board ads are two ways you can begin to get a handle on salary. But how else can you achieve that $100k paycheck? Discover three more strategies below.

1. Ask for a meeting with your manager

If you've benchmarked your earnings against those of a colleague in your workplace who does the same, or a very similar role, but is paid significantly more, you may be able to leverage that. Similarly, check for the going rates at your company's main competitors, and keep this information to hand.

Then, ask your manager for a meeting, calmly explain the situation, and ask for a pay review. If you've been at the company for a few years, it's very likely that someone new to the job may be earning a bit more than you are.

You can take advantage of this fact too: job switching is a great way to leverage your earning power. In fact, a job switch can often net between 10-15% in terms of a pay boost. And that might be just the increase you need.

2. Move to a big city

Jobs in American cities such as New York and LA will often pay more––quite a lot more. Accepting a job in one of the big metros is often a quick way to get a significant pay bump, pushing you over that $100k margin.

However, there is a downside. The cost of living in big cities can be astronomical, and in New York, for example, $100k may not feel like very much once you factor in living and entertainment expenses. Recent figures show that even street food is up 31% since the pandemic, and hamburgers and other cheap fast food have also seen a 31% hike in cost.

3. Look at growth jobs

Want the big bucks? Then you may simply be in the wrong field. Cloud computing, cybersecurity, data analysis and generative AI are all on the up, and all offer competitive salaries as there are significant skills gaps for these jobs. That means talent with the right experience can really reap the benefits.

In particular, AI roles are on the rise. Jobs site Indeed noted that between April 2022 and April 2024, there was a 75-times increase in generative AI job postings.

3 open tech roles to explore

• Senior Backend Engineer, Oura, San Diego
• Cybersecurity Software Engineer, The Travelers Companies, Inc., Hartford ($115,700-$190,900)
• Full Stack Software Engineer (AI/ML) – 1013, Reinventing Geospatial, Inc. (RGi), Dulles

Of course, to get a high-paying role in a highly-technical area requires you to have a specific skill set. If going back to college or studying at night doesn't appeal, you can look to leverage your transferable skills instead.

These are things like your ability to strategize and problem solve, and to use creative and critical thinking to affect business outcomes. Being a great manager is a skill many think they have, but it requires a certain level of self-awareness and the self-possession to lead with empathy.

All of these capabilities can be leveraged if you'd like to move into a high-paying field, but aren't necessarily technical. And other skills are transferable too. Project management experience is valuable no matter the industry, and UX professionals often find a route into product management, for example.

Get a job with a great total compensation package on the Benzinga Job Board today

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