February 5, 2023
Extra pay awarded by employers to talented tech professionals for 675 non-certified IT skills---also known as cash pay premiums---displayed flat growth in the final quarter of 2022, in stark contrast to the how the year began: a robust 1.6 percent gain in average market value in the first quarter. Despite this lackluster performance at year’s end, the non-certified IT skills surveyed by our firm grew an average 2.2 percent in market value for the year. The current average cash pay premium bonus for a single skill is the equivalent of 9.6 percent of base salary.
Conversely, average market value for 595 tech certifications increased a slight 0.1 percent in the fourth quarter of 2022, erasing losses in two of the prior three calendar quarters. The current average cash pay premium for a single IT certification is the equivalent of 6.6 percent of base salary, lead most recently by increases in pay for security certifications.
This according to the latest quarterly update of Foote Partners’ IT Skills and Certifications Pay IndexTM (ITSCPI) based on compensation data provided by 4,057 private and public-sector employers in 83 U.S. and Canadian cities who partner with the firm to report pay for their 372,125 technology professionals in the U.S. and Canada.
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