Coding Tips

Tech Salary Tips: How to Know If You Earn Enough as a Software Developer

Many software engineers are having struggles setting up a salary requirement just because of the difference in salaries with their colleagues. Nevertheless, it seems like the tech salary is a highly arguable topic. In most cases, it depends on the experience, skills, education, country, and company. 

Therefore, the salary of a senior software engineer can’t be compared with the salary of an engineer who doesn’t have a year of experience in the field. We can also see that a software developer who works in Silicon Valley in the United States will have higher pay than his colleagues around the world. 

In general, every developer will earn well, compared to other professions. It is so, because web developers are in high demand, while the industry is facing a shortage of devs. According to Statista, the IT functions in every company face the most considerable shortage compared to all the other fields. As the statistics show, the level of unemployment of tech experts may be brought to a minimum, but the salary of developers is still highly questionable. 

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The good news is: several elements will pinpoint whether you’ll earn enough as a software developer. Therefore, you’ll have no more doubts negotiating about a salary that will be according to your expertise. For that reason, in this article, we’ll focus on the key characteristics that every developer should have to earn more than the average salary. Check out the following tech salary tips!

It All Depends on Your Experience

It All Depends on Your Experience

When opting for higher paying jobs, having an extensive portfolio in companies where you have worked full time is a requirement. Therefore, you can’t expect that your first coding job to be paid as someone’s last coding job. The years of experience are a great indicator of the salary you’ll earn.

So, the average salary for an entry level developer in the US will be about $50,000 per year. Late-career computer programmers would annually earn around $85,000. Bear in mind that the salaries will vary according to the different countries. So, a developer hired in the US will earn more than someone from India or China. It’s all due to the standard of living in the countries, and hence, the salaries are different. 

What Is Your Specialization?

The term programmer or developer can refer to various careers in the tech industry. It’s all up to the specialization of the programmers who work with a certain framework, programming language, or production of their choice. As a result, the salary of a developer will significantly vary according to their specialization. 

For example, the salary of an entry level data scientist is equal to the wages of a late-career computing developer - $85,000. Some other programming professionals earn the following annual sums of money: web developers earn an average of $60,000, network engineers around $72,000. On the other hand, a machine learning engineer with no experience can start with an annual salary of $90,000. Since AI technology is quite revolutionary and most of the assets are invested in innovations, machine learning engineers rate high on the scale of tech industry specialists. The focus lately is also on data protection and security, and maybe that’s the reason why cybersecurity engineers earn an average of $95,000 a year

Your Skill Set Is Your Greatest Asset

Your Skill Set Is Your Greatest Asset

How many programming languages do you know? Which frameworks have you worked in? Having the right skill set is probably the most significant asset that you, as a developer, can have. 

Some critical skills for a software developer are the following:

  • Programming languages (different tech roles will require knowledge and experience with various programming languages)
  • Problem-solving skills 
  • Mathematical aptitude
  • Self-development skills to keep up with the updates and changes that happen within the tech world.
  • Attention to detail
  • Organizational and time management skills 
  • Teamwork skills 

Do Credentials Matter?

Many people think that having a proper education is the key to working within an industry. Nevertheless, not a long time ago, things have changed. Now, companies are going to developers who have the right experience and skills and know-how of a job, rather than just have the education. Indeed, education is still the pillar of obtaining your first tech job, but there are also many courses and other ways to learn to code. Some experts have gained immense computing knowledge without having any tech degree or certification. 

We can confirm that having a university degree will be beneficial in obtaining a job more quickly. However, it’s not essential if you have the skills needed for the job. Nowadays, companies are looking beyond the degree that you have, and instead appreciate you for some other qualities you have. 
Once you have gone through the tech salary tips, what do you think, are you earning enough as a software developer or not? Is it time to ask for a raise, or should you go on and upgrade your skills and knowledge?

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