Over 50 and working in tech? 2019 might be a pivotal year for you.
First, some not-so-great news: The average tech salary has continued its plateau, having remained effectively unchanged since 2015. Though $93,244 is a respectable income level, it’s $84 less than the average annual tech pro salary in 2015.
But salary-wise, things only get better as you age. In the most recent Dice Salary Survey, we found those in the 36-49 age bracket earned a bit more than average: $96,894 annually. Those in the over-50 bracket, however, are earning $104,117 on average.
Those with over 15 years’ experience (and we’d think a healthy percentage of the over-50 crowd fall into this category, as well) are also having a moment. This segment earned 1.1 percent more year-over-year, only outpaced by those with far less experience (who naturally earn quite a bit less, and fall into pay brackets subject to a bit more disruption).
It’s not all good news, though. A benefit that often matters more to older tech pros, 401(k) matching, has one of the largest deltas between ‘important’ and ‘already have.’ While 82 percent of tech pros say it’s an important benefit to have, only 61 percent report actually having 401(k) matching from their employer.
We also asked respondents to the 2019 Dice Salary Survey if they planned to switch jobs in 2019. Some 45 percent said they were expecting to find a new role with a different company, with 68 percent of that group wanting to switch jobs for a better salary. This group earned $80,925 per year, on average. And 22 percent of those who anticipate finding a new job in 2019 will do so because they anticipate losing their current position; this group of respondents earned an average annual salary of $100,675.
From this, we can glean that older tech pros are earning more than average, and their experience is valued. With all the bad headlines tech companies earned in 2018, hiring seasoned pros who have a bit of foresight might just become a big deal in 2019, and could help reverse a troubling trend of longer layoffs and less pay for experienced tech pros.