Tech Employment and Salary Trends 2024: Insights from Q1 Market Trends Report

by | General, Market Trends

Tech Employment Trends 2024 Overview

As we settle into 2024, the landscape of technology employment continues to evolve at a breakneck pace. ProFocus Technology’s latest Market Trends Report for Q1 2024 delves into these changes, providing valuable insights for IT leaders, tech hiring managers, and professionals. Here, we break down the key findings and explore what they mean for the future of the industry.


Demand for Tech Talent

Despite the frequent news of layoffs and reorgs, the demand for tech talent is alive and well as shown by the IT unemployment numbers here:


Tech Employment on the Rise

The demand for skilled tech professionals shows no signs of slowing down. According to our report, tech employment is expected to grow at double the rate of the overall U.S. workforce over the next decade. This growth is driven by the increasing need for data science, cybersecurity expertise, and software development skills.

Projected Growth in Tech Employment:

     Occupation       Projected Growth
     Data Scientists & Data Analysts      +5.5%
     Cybersecurity Analysts & Engineers      +5.1%
     Software Developers & Engineers      +4.8%
     Software QA & Testers      +4.3%
     Computer & Information Research Scientists      +4.3%
     CIOs & IT Directors      +3.6%
     Web Developers      +3.6%
     We & Digital Interface Designers      +3.6%

State-Specific Trends

The tech sector’s impact varies significantly across states, reflecting localized economic contributions and job market dynamics. States like California and Texas show substantial tech employment and economic impact, while emerging tech hubs like Arizona and Colorado are seeing rapid growth in tech job postings.

Tech Employment and Salaries by State:

     State  Median Tech Salary  Net Tech Employment  Economic Impact
     Colorado  $112,069  8.5%  12%
     Arizona  $96,583  6.3%  8.2%
     Texas  $96,031  6.4%  7.5%
     California  $134,696  7.8%  16.7%
     Nevada  $78,729  3.4%  4.6%

Salaries in Tech: A Competitive Edge

With the growth in tech jobs, salaries are also seeing a notable increase, ensuring the sector remains one of the most lucrative fields. The report highlights competitive pay across various tech roles, underpinning the health of the industry and opportunities for professional growth. For salary insights by position and candidate level download the report.

Emerging Technologies to Watch

The immersive technology market, including virtual reality (VR), augmented reality (AR), and mixed reality (MR), is projected to reach approximately $621.32 billion by 2027. These technologies are becoming more affordable and accessible, increasing their integration across different industries.

Expect to see demand for these positions in 2024 and beyond:

  • XR Developer
  • Software Developer
  • AR/VR Maintenance and Support Technician
  • XR Designer
  • Software Engineer
  • Product Manager
  • XR Gameplay Engineer

Interested in emerging tech such as AI? Check out our recent post about Generative AI and Prompt Engineers!

Market Report Recap

As the digital landscape continues to shift, ProFocus Technology remains at the forefront, offering strategic insights and workforce solutions that empower businesses and professionals alike. Stay tuned for our next Market Trends Report at the end of Q2, which will further explore these evolving dynamics and have a new focus in the emerging technologies section.

Looking for specific data or insights to drive digital transformation at your company? Curious about other tech employment trends for 2024? Connect with our team at [email protected].

Report sources include CompTIA, Robert Half Salary Guide, Dice Salary Report, and TechServe Alliance.

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About ProFocus

ProFocus is an IT staffing and consulting company. We strive to connect a select few of the right technology professionals to the right jobs.

We get to know our clients and candidates in detail and only carefully introduce a small number of candidates that fit the role well.