Highest-paying industries for tech professionals – aerospace and defense tops the list

New data has revealed the top-paying industries for tech professionals, with aerospace and defence topping the list.

New research conducted by system design interview prep experts System Design School compiled data from the 2024 Dice Tech Salary Report regarding the average salaries for tech professionals working in various industries in 2023.

1. Aerospace and Defense: $130,574

The aerospace and defense sector is known for cutting-edge innovation and offers the highest average salaries for tech professionals. The industry’s reliance on advanced technology for national security and aerospace development drives the need for top talent.

2. Software: $130,559

As a cornerstone of the tech landscape, the software industry continues to thrive, providing lucrative opportunities for developers, engineers, and IT specialists. The continuous advancement of software applications ensures the sector’s demand for skilled professionals.

3. Medical / Pharmaceutical / Biotechnology: $128,141

With the growing emphasis on medical technology and innovation in healthcare, the biotech and pharmaceutical sectors offer high-paying roles, particularly for those specializing in data analysis, AI, and medical software development.

4. Bank / Finance: $126,226

The finance industry is rapidly evolving with digital transformation, making tech professionals critical in developing secure and efficient financial systems, payment platforms, and data security solutions.

5. Consulting: $125,160

Tech consultants are in high demand as businesses seek expert advice on system design, digital transformation, and the implementation of cutting-edge technology to stay competitive.

6. Utilities / Energy: $119,880

The energy sector’s digital transformation has created opportunities for tech professionals skilled in energy management systems, smart grids, and renewable energy technologies.

7. Insurance: $117,612

Insurtech is reshaping the insurance industry, and with it comes a demand for tech professionals specializing in big data, machine learning, and cybersecurity to revolutionise insurance companies’ operations.

8. Healthcare: $117,578

The healthcare industry is heavily investing in technology to improve patient care, data management, and telemedicine platforms, making it a lucrative field for IT and tech specialists.

9. Telecommunications: $114,368

With the increasing global reliance on digital communication, the telecommunications industry continues to be a major player in providing high salaries for tech talent, especially for those focused on network infrastructure and mobile technology.

10. Entertainment (Movies, Games) / Media: $113,860

The entertainment industry, particularly in gaming and media, is heavily driven by technology, offering top-tier salaries to professionals skilled in AI, virtual reality, and content streaming technologies.

Sheldon Chi, ex-Google engineer and creator of System Design School, commented on the findings:

“Industries like aerospace, finance, and healthcare are rapidly advancing due to the integration of AI, big data, and machine learning, driving demand for skilled tech professionals. Even traditionally non-tech sectors, such as insurance and utilities, are now tech-driven, pushing salaries higher. In entertainment, innovations in gaming and streaming have made it a key player in the race for top tech talent. The message is clear: adaptable, tech-savvy professionals are more valuable than ever.”