The average salary for a US technology professional remained almost flat in 2023, decreasing slightly to $111,193 from $111,348 in 2022, according to the 2023 Tech Salary Report released today by tech jobs website Dice, a DHI Group Inc. (NYSE: DHX) brand.

“This plateau in salary growth represents a correction more than a red flag, especially given the huge surge we saw in compensation coming out of the pandemic,” Dice CEO Art Zeile said in a press release.

 “Most companies are being very cautious about expenses in general, and most companies’ business model revolves around people,” Zeile said. “So, when they think about managing their expenses carefully, it means managing what they’re doing to compensate their people, but compensation is just one component of an employment contract. Benefits are another component technology professionals prioritize, as are the ability to work from home and flexibility in general.”

The study also found that 93% of employed technology professionals are either looking for a new job or are open to relevant offers, driven partly by a decline in salary satisfaction. Dissatisfaction with salaries rose to 35% in 2023 from 30% in 2022.

The report also revealed a connection between overall salary satisfaction, years of experience and age. Forty-three percent of tech workers early in their careers reported the most dissatisfaction, while 31% of tech professionals with more than 15 years of experience reported dissatisfaction.

Additionally, 12% of tech professionals reported a decrease in salaries in 2023 compared to 6% in 2022.

Here are the top five industries with the highest average tech salary in 2023:

1. Aerospace and defense industry ($130,574)
2. Software ($130,559)
3. Medical /pharmaceutical/biotechnology ($128,141)
4. Banking /finance ($126,226)
5. Consulting ($125,160)

Despite CEO/CIO/CTO roles commanding the highest tech salaries, these did not experience the largest growth in 2023.

Roles with the fastest growth in salary in 2023 were:

1. Systems administrator, up 11.2%
2. Software developer, up 6.5%
3. Program analyst/manager, up 6.1%
4. Help desk technician/computer or desktop support specialist, up 4.8%
5. NET developer, up 4.8%

The 2023 Dice Salary Survey was administered online by Dice.com among registered Dice job seekers and site visitors between Aug. 30, 2023, and Oct. 31, 2023. A total of 6,166 completed surveys were represented in the report.