We all know the saying, “money isn’t everything”, but when the Bureau of Labor Statistics tells you that the average coder earns more than $100k per annum, it generally helps. Then, when Payscale.com tells you the average starting salary is $68k - it’s enough to make your eyes water.
Everyday our 5 Day Coding Challenge students ask what the benefits of becoming a coder are. After all, a large number of our students and graduates are career changers, and like any sensible person, they’re doing their homework to make sure that their choices make sense. There are numerous benefits to being a coder, but one that often seems to make our potential students listen is when we start to talk about salaries.
When it comes to salaries, software developers know they hold an advantage. They’re in their prime because the whole world is suffering from a massive tech skills gap. In the US, where a huge bulk of the global ICT industry stems from, the gap is estimated to be as high as 1 million jobs by 2020. In Europe, it’s thought that there will be a gap of between 500,000 and 900,000 by 2020. So, on account of this, software developers are benefitting from supply and demand and their income is soaring.
So, let’s back up these statements with some facts. Let’s start off with entry salaries. Getting data on starting salaries can be a difficult task, so to get around that, we go to the global pay website, payscale.com. At the time of writing, the average income for new software developers across the USA is $68,000. Not a bad figure when you consider that the national average income for the USA, according to the Bureau of Labor Statistics, is $45,708.
Okay, software developers get nice average starting salaries, but what about average non-starting salaries? Well, this is where it gets even more attractive. If you become a software developer and if you progress in your career, the Bureau of Labor Statistics puts the average software developer salary at a whopping $103,560 per annum. That’s an attractive figure in anyone’s book.
Recently, employment site Glassdoor.com researched the 25 best-paid jobs in the US. Based on the salaries reported to their site, they rank software developers as the 6th best-paid employees in the country. In fact, ICT staff in general rank favorably in the top 25, with software engineers in 8th place, software architects in 10th, app developers in 12th, IT program managers in 14th, data architects in 17th, systems architects in 19th, and data scientists in 25th.
But it’s not all about the money in the world of tech. There are many other reasons to join this thriving industry. Firstly, businesses, both in and out of the tech industry, are screaming out for staff. The chances of new tech graduates landing a job swiftly are high. Then there’s job flexibility. A career in software development can travel the world with you. Staff are required globally and many graduates are choosing a career in software development knowing that they can travel and work at the same time.
Another bonus that’s become more prevalent among coders is the chance to work remotely. Because a laptop and broadband are the most important physical requirements of a role in coding, the job can be done from nearly anywhere. However, it’s important to work somewhere that allows you to concentrate on the job at hand.
Most importantly, despite all of my talk about high salaries, the biggest benefit of being a software developer is the job satisfaction associated with it. It’s unmatched. Unlike many other jobs, it’s easy to see the outcome of your work. It’s easy to see how clever your design is, and it’s easy to watch how it can be used. Also, and for many, this is a huge bonus, if you’re a problem solver, then a career in software development is definitely for you.
If you think you might have an aptitude for code, try our free 5 Day Coding Challenge today.
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Students enrolled in Code Institute's full stack development bootcamps can take their coursework online or attend the classroom version in Dublin, Ireland. They also offer an online Diploma in Tech Fundamentals, which is designed for individuals interested in software engineering careers or positions as tech project managers.