More tech professionals are searching for new jobs amid dissatisfaction with their current roles, according to a survey by job board Dice, a division of DHI Group (NYSE: DHX). This is taking place even as the average technology salary rose 1.2% in 2024 to $112,521.

Nearly half of tech pros, 47%, are actively seeking new roles this year, up from 29% last year.

Dice’s survey also found that 59% of tech pros this year feel underpaid — the highest percentage ever recorded by the survey. This finding also coincides with companies reducing benefits.

“While compensation remains important, tech professionals are increasingly focused on the total package — from benefits to job security to professional development opportunities,” said Art Zeile, CEO of parent company DHI Group, in a press release.

Falling benefits include training and education opportunities, down six percentage points in 2024 compared to 2023; remote work options, down four percentage points; and merit raises, down by 41% from 2023.

“The reduction in benefits, particularly in areas like professional development and flexible work arrangements, may be contributing to the unprecedented levels of job seeking we’re seeing,” Zeile said.

Tech employers must deliver on the total employment package to attract and retain the best talent, he added.

Dice’s survey also found that AI and machine learning are considered the most significant technological change in the past decade, according to 36% of tech pros with more than 20 years of experience. The other changes in the top three are cloud computing and virtualization, 15%, and mobile technologies, 8%.

Tech pros responsible for AI development earn 17.7% more than their peers not involved in AI work.

Another notable finding: Women in tech with more than 20 years of experience are nearly 1.5 times more likely than their male counterparts to say work culture has improved over that time.

“This finding suggests real progress in workplace culture,” Zeile said. “However, with only 48% of all seasoned tech professionals saying culture has improved, there’s still significant work to do in this area.”

Other findings in the report included:

• Manufacturing led 2024’s industry salary growth at 15.1%.
• Silicon Valley maintains the highest tech salaries, despite a 7.3% year-over-year decline.
• Mid-career professionals (three to five years’ experience) saw 6% salary growth.
• Consulting, software and banking/finance remain the highest-paying industries, each with average salaries exceeding $125,000 for tech workers.

Dice’s survey included 2,835 qualified responses from tech pros gathered between Aug. 30 and Nov. 6, 2024. The survey was distributed via email to registered members in Dice’s database and in website banner notifications on Dice. Qualified responses exclude unemployed respondents, students, incomplete responses and those working outside the US.