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STATE OF THE TECH WORKFORCE 2024


COMPTIA RESEARCH | MARCH 2024

CompTIA’s State of the Tech Workforce, also known as Cyberstates, provides the
definitive guide to tech workforce trends, the number of available jobs in
technology, and tech industry employment statistics by state, metro area and
nationwide. The State of the Tech Workforce aggregates mountains of data and
transforms it into easy-to-understand visuals and actionable insights – the
digital economy at your fingertips!

See full report PDF for details.

The tech workforce consists of two primary components, represented as a single
figure by the ‘net tech employment’ designation. The foundation is the set of
technology professionals working in technical positions, such as IT support,
network engineering, software development, data scientist, and related roles.
Many of these professionals work for technology companies (45%), but many others
are employed by organizations across every industry sector in the U.S. economy
(55%).

The second component consists of the business professionals employed by
technology companies. These professionals – encompassing sales, marketing,
finance, HR, operations and management, play an important role in supporting the
development and delivery of the technology products and services used throughout
the economy.

According to projections from the U.S. Bureau of Labor Statistics and Lightcast,
in the next ten years the tech workforce will grow twice as fast as the overall
U.S. workforce. The replacement rate for tech occupations during the 2024-2034
period is expected to average about 6% annually, or approximately 350,000
workers each year, totaling several million through 2034.

Tech occupation employment over the next 10 years is expected to grow at about
twice the rate (2x) of overall employment across the economy. This confirms the
relative strength of tech employment compared to many other occupation
categories as companies of all sizes across every sector industry sector of the
economy pursue digital transformation (DX) initiatives.

Employer job posting data provides another layer of near real-time insight into
the tech job market and how companies are navigating talent needs due to growth,
as well as backfilling for retirements or separations.

Job posting analysis trending reveals a dip following the hiring frenzy of 2022
before settling into a more normal range. Early Q1 2024 data indicates an uptick
as employers re-evaluate hiring plans put on hold and eyeing growth investments
requiring new skills and tech talent.

Across all tech occupation categories covered in this report, the median salary,
also referred to as the 50th percentile or midpoint, was an estimated $104,556
for the most recent year of available data. This figure is more than double the
median wage across all occupations of the U.S. labor force reflecting the
premium in earnings associated with in demand tech job roles.

Percentiles help to provide insight into how salaries progress throughout a tech
career, with the upper levels at the 75th or 90th percentile range achieved
through years of experience, training and certifications. Of course, there are
many nuances with salary data due to cost of living (COL) factors across
regions. Please see full report for a deeper dive into tech workforce earnings.


Read more about IT Workforce.

TABLE OF CONTENTS

Tags : IT Workforce


DOWNLOAD DOCUMENT

Download Full PDF

News releases with national, state and metropolitan area data from State of the
Tech Workforce 2024 are available in the CompTIA Newsroom.

 
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