2024 JULY
🇺🇸 FREEDOM REPORT
6figr.com Tech Compensation Report
View top paying companies by titles, salary trends & the impact of AI on salaries.
Top Salaries of Software Engineers
Explore the highest-paying companies across various levels, based on our standardized job levelling framework. Select a job level from the tabs to reveal insights tailored to each specific level.
Analyze your offer the way recruiters do it
Get detailed analysis of your current offer with Pay Bands - the method used by employers. See the breakdown comparison of every component and find scope for negotiating a higher pay.
Try it now Top Salaries of
Explore the highest-paying companies across various job families. Select a job family from the dropdown to reveal insights tailored to each specific role.
Total Compensation Trends
The latest compensation trends reveal a promising landscape for professionals across various tech roles, showcasing an overall positive trajectory in salary increments from 2023 to 2024. Software Engineers saw a notable increase of 6.8% while Product Managers have seen a 6% bump, highlighting their critical role in driving projects forward. Meanwhile, Data Scientists, Hardware Engineers, and Program Managers experienced more modest increases of 5%, 2.3%, and 2.8%, respectively.
These trends unfold against a backdrop of challenging economic conditions & layoffs. Despite these constraints, the tech industry shows resilience, rewarding professionals for their expertise and contributions.
Looking for Benchmarking Data?
Get access to real-time salary data that updates automatically.
Benchmark against an industry cohort or create your peer group of companies. Slice data by job family, employee levels, company valuation, size & more.
The Long Funding Winter
Salary increments are to an extent dictated by economic conditions and liquidity in the market. Think of the Federal Funds Interest Rate (red line) as a faucet controlling the flow of money: when it's turned up, it tightens the flow, leading to a drop in funding & fewer resources for handing out those fat salary paychecks.
With rates climbing again in 2023 & persisting in 2024, the market poses a challenge for companies to provide deep salary hikes.
It Pays to be in AI
The launch of ChatGPT-4 in 2023 sparked a wave of investments in AI research, propelling 2024 to be the year of AI. The market now rewards AI skilled talent with higher salaries compared to the general tech pool, as seen here with Software Engineering roles
Salary Trends for
in 2023-2024
The provided data presents the median annual total compensation for various job families, emphasizing the percentage change from the previous year. Select different job titles to examine the distributions that compare current and past year compensation figures.
👨💼 👩💼 Gender Pay Trends
Women salary trends show consistently being underpaid compared to men across various job roles in tech.
On average, women seem to be getting paid 10.4% lower than men within the same job role & function.
Leveraging the power of AI to get Higher Paying Offers
Over the last few months, we've created a suite of tools to help users harness the power of AI in bagging higher paying offers. Usage trends indicate an increasing adoption & acceptance of AI-copilot tools during a jobhunt process
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