Internet, computer, and information systems managers were among the top 20 highest-paying job categories, according to US News; that’s why the demand for IT managers in the US is high. If you are searching for a high-demand career that offers advancement in a management position, you must consider a career in IT management. Let us see about the Salaries for the IT manager.
If you are interested in this field, you might be curious about how much money junior and experienced IT managers make. Continue reading this article to learn more about IT manager salaries, hourly pay, factors that affect their salaries, and the top-paying industries in the US.
Salaries for the IT manager
According to US News, IT manager jobs rank third among the best technology jobs and 12th among the 100 best-paying jobs. According to the US Bureau of Labor Statistics, the average median salaries of an IT manager in 2021 was $159,010 per year, and their per-hour salary was $76.45. In recent years, the IT manager’s pay has been nearly $162,000, and jobs are predicted to increase by 16%, which is more than the average increase. The highest salary of a software engineer is recorded at nearly $230,000 per year, and the lowest salary is recorded at $67,000 per year.
The average salaries of IT manager :
The average median salary of an IT manager is nearly $162,000, and the hourly wage is approximately $77, according to the BLS. But the salary of an IT manager varies according to different factors that are discussed below in this article. The overall salary satisfaction of IT managers is nearly 65%, which indicates that their salary can meet their daily expenses easily.
Salaries for junior IT manager:
Very junior IT managers, or “freshers,” who can start their careers as IT managers should keep in mind that their initial salary can be less because they have no experience, but as long as they gain experience, their salary will increase gradually. The average salary of a new IT manager with no years of experience can start their career at nearly $67,000 per year, but once their first year is completed, they have one year of experience in this field of IT, and their salary increases from the fresh IT manager. A junior IT manager can earn nearly $75,000 annually.
Salary of an experienced IT manager:
The salary of an experienced IT manager varies according to the years of experience they have. The average salary of a 5-year experienced IT manager is nearly $140,000 annually. Experienced IT managers have many opportunities to earn more money by utilizing their work experience. Furthermore, experienced IT managers enjoy a variety of other benefits, such as bonuses, insurance, and commissions.
Factors affecting the salary of IT managers:
Several skills affect the salary of IT managers; these are some top skills for IT managers that positively or negatively affect their salary.
- Enterprise architecture.
- Data modeling.
- Portfolio management.
- Software development.
- Computer hardware.
- Program management.
- SAP Basics.
- Artificial intelligence.
- Business strategy.
Ways of increasing the salary of IT managers:
There are several ways to increase your compensation as an information technology (IT) manager.
- Employer switch:
As an IT manager, you have the option of joining any other firm that provides you with a handsome salary.
- Request for a pay rise:
Consider requesting a pay raise from your employer if you want to boost your income while keeping your current position. As a sensitive conversation and action, asking for a pay raise takes careful consideration.
- Education Level:
IT managers can earn more money and be promoted if they obtain advanced degrees and increase their level of education.
- Experience in management:
If you are an information technology manager who supervises junior information technology managers, your chances of earning more money are increased by this experience.
IT manager’s salaries according to top industries:
- Information services industry:
An IT manager can earn $220,320 per year, and the per-hour wage is $105.92.
- Computer and peripheral device manufacturing industry:
An IT manager can earn $202,530 per year, and the per-hour wage is $97.37.
- Natural gas distribution industry:
An IT manager can earn $196,840 per year, and the per-hour wage is $94.63.
- Transportation industry and support activities:
An IT manager can earn $194,680 per year, and the per-hour wage is $93.60.
- Financial investment industry:
An IT manager can earn $193,810 per year, and the per-hour wage is $93.18.
- Data processing and hosting:
An IT manager can earn $174,790 per year, and the per-hour wage is $84.04.
- Software engineering industry:
An IT manager can earn $172,770 per year, and the per-hour wage is $83,06.
- Management and scientific services:
An IT manager can earn $172,220 per year, and the per-hour wage is $82.80.
- Computer system design industry:
An IT manager can earn $166,810 per year, and the per-hour wage is $80.05.
- Management in Enterprises:
An IT manager can earn $164,800 per year, and the per-hour wage is $79.23.
IT manager’s salary according to the year of experience:
A fresh IT manager with no experience can expect to earn an average salary of nearly $67,000 annually.
A junior IT manager with experience of 1–4 years can expect an average salary of nearly $95,000.
A middle-level IT manager with 5–10 years of experience can expect an average salary of nearly $145,000.
An experienced IT manager with 10–15 years of experience can expect an average salary of nearly $180,000.
An experienced IT manager with more than 15 years of experience can expect an average salary of nearly $2,000,000.
IT managers are paid in various states in the United States:
- New York:
The average salary of IT managers in New York is nearly $195,900.
The average salary of IT managers in California is nearly $193,500.
- New Jersey:
The average salary for IT managers in New Jersey is nearly $189,540.
The average salary of IT managers in Washington is nearly $178,130.
- District of Columbia
The average salary of IT managers in the District of Columbia is nearly $176,000.
The average salary for IT managers in Massachusetts is nearly $168,490.
The average salary of IT managers in Texas is nearly $154,860.
The average salary of IT managers in Georgia is nearly $151,700.
IT managers keep an eye on a company’s computer and information systems to make sure they are operating effectively and are in charge of overseeing a company’s networks, hardware, and software platforms, as well as IT security. Because of this, qualified IT managers are in high demand, and their position commands a high annual salary. More and more businesses will want assistance in the future with network and computer system design and management.
- Are IT managers paid a handsome salary?
Yes, IT managers do earn well because this is a lucrative career option that also offers additional benefits like profit sharing and financial incentives like commissions and bonuses.
- What do independent IT managers earn?
Freelance IT managers get an average salary of $80,630, according to Payscale. The number of projects they can take on at once will also affect how much money they make.
- Which fields are most demanding in the USA?
Network administrator, network security engineer, and software developer are the top three fields of IT that are currently in demand in the different states of the USA.