software salary After peaking in 2021, developers continued to decline in real terms in 2023. This is according to his OfferZen State of the Developer Nation (SODN) report released this week.
“In recent years, overall developer pay levels have grown more and more slowly. Entry-level and junior developer salaries will decline in 2023, while intermediate-level salaries will only see nominal increases.” OfferZen's report states.
“Many developers have essentially experienced a decline in purchasing power over the past two years when controlling for inflation.”
When adjusted for inflation, average salaries for senior developers (10+ years of experience) and intermediate developers with 4-6 years of experience were the only categories whose incomes did not decrease, according to SODN data.
Junior developers with up to 2 years of experience, intermediate developers with up to 4 years of experience, and senior developers with 6 to 10 years of experience all saw their earnings shrink in real terms (adjusted for inflation).
The data shows that the increase is decreasing and the increase is widening. However, the general outlook remains positive, with most developers surveyed reporting that they received a raise in 2023. Of the 75% who received a raise, 29% received a 6% to 10% raise, and only 5.9% reported their salary increased. over 20.
Cost reduction
While only 1.2% of developers surveyed reported taking a pay cut, companies are exploring other ways to reduce costs, such as cutting employee benefits. Budgets for training, remote equipment, and stock allocation have all been significantly reduced.
“With very few exceptions, benefits have been reduced across the board, most notably bonuses. This represents an attempt to still reward developers who impact the business,” the report said. Says.
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On the positive side, the gender pay gap narrowed last year. This narrowing down is across all levels of experience. According to OfferZen, at entry level, male and female developers earn the same salary. Gaps begin to appear after a candidate has gained at least two years of experience. The range is widest at the most senior levels (10+ years of experience), with men earning an average of 17% more than women.
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“We hope that by providing pay transparency on our job platform and in reports like this one, all developers can gain the knowledge and confidence they need to earn the pay they deserve. Looking forward. , we plan to publish further insights on this topic,” OfferZen said. – © 2024 News Central Media