When looking for a career in tech, it still pays to live in traditional innovation hubs like Silicon Valley or Boston.
But don't count out Charlotte.
Emerging hubs like Phoenix and Charlotte are closing the gap with some of the nation's fastest-growing tech salaries, according to Dice — a tech career marketplace and job board. It's yet another example of how shifting migration patterns and the rise of entrepreneurial ecosystems outside of legacy markets is shaping the technology sector.
Dice's report noted how migration trends in the Covid-19 era, such as individuals moving from expensive coastal markets to more affordable areas, are shaping tech salaries.
The Sun Belt has been one of the big winners in that migration pattern — and that showed in Dice's analysis.
Phoenix (26% increase) and Tampa (19% increase) led the way for growth, followed by Columbus, Ohio; Portland, Oregon; Charlotte; and Miami.
Charlotte saw its average tech salary grow 11.1% to $118,465. The report, however, has a caveat for Charlotte. Dice points out that Charlotte is among a handful of markets with a sample size of less than 100 respondents, which could increase the likelihood of inconclusive results.
Raleigh's average tech salary is up 9.4% to $115,000.
Nationally, average tech salaries rose 2.3% last year to $111,000.
All U.S. cities in the 25 highest-paying tech hubs had an average salary above $100,000, according to Dice. But some metros saw salaries decline between 2021 and 2022, including Los Angeles, San Diego, Baltimore-Washington, D.C., Philadelphia and Dallas-Fort Worth.
In terms of overall tech salaries, traditional heavyweights led the way, as expected. Silicon Valley ($145,000) and Boston ($130,000) set the pace.
Looking at the state level, Arizona led the way with a 20% year-over-year increase, followed by Oregon, Connecticut, Tennessee, North Carolina and Ohio.
Salary growth overall has slowed from its 2021 and 2022 heights due to a variety of factors.
The tech sector is no different as the industry grapples with reduced venture capital funding, the consequences of overhiring and an uncertain economy.
That being said, experts have told sister publication The Playbook that the most in-demand workers in the technology industry can still count on solid pay growth in 2023 as companies attempt to retain their best talent.
Those workers can still expect aggressive compensation offers compared to pre-Covid levels, experts say.
