Emerging Trends in Pay for Software Engineers and Data Scientists in Six High Demand Labor Markets
Bayard has partnered with The Johns Hopkins University to study the emerging trends in pay for Software Engineers and Data Scientists in key markets. As companies continue to wrestle with the supply/demand for these roles, our findings could provide key insights that help your company take a step ahead of competitors.
Please see below for an introduction to the study and to download the final research paper.
The rise of high tech firms in the U.S. created concomitant rise in demand for skilled workers in computer and mathematical occupations. By 2019, the median salary of software engineers in the U.S. was $103,620 and the median salary of data scientists was $91,160, compared to just $39,810 for all occupations. These workers form the backbone of some of America’s most successful companies, like Amazon, Google, Microsoft, and Apple. The rise of these companies has also witnessed the growth of superstar cities like San Francisco, New York City, Boston, Seattle, and Portland. The success of these companies attracts a variety of skilled workers and other companies that benefit from locating near each other. At the same time, companies must compete with each other for workers in the same local labor market and with peer cities. As companies enter new markets or incumbents grow, demand for skilled labor will rise. We explore this dynamic by measuring the local pay premium for software engineers and data scientists from 2005 to 2019 across six metropolitan areas; Austin, Baltimore, Boston, New York City, Salt Lake City, and San Francisco.
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