February 4, 2022
Extra pay awarded by employers to talented tech professionals for 642 non-certified tech skills ---also known as cash pay premiums---decreased slightly in the fourth quarter of 2021, contributing to a 1.5 percent overall decline in the last twelve months. The current average pay premium bonus for a single skills is the equivalent of 9.4 percent of base salary.
Conversely, average market values for 567 tech certifications increased for the second consecutive quarter and only the second time since mid-2018, up 0.2 percent, for the equivalent of 6.6 percent of base salary cash bonus premium on average for a single certification. Still, certifications have lost more than 7 percent of market value on average over the past two years.
This according to the latest quarterly update of Foote Partners’ IT Skills and Certifications Pay IndexTM (ITSCPI) based on compensation data provided by 3,934 private and public-sector employers in 83 U.S. and Canadian cities who partner with the firm to report pay for their 360,794 technology professionals in the U.S. and Canada.
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