This six-figure tech job had the biggest bump in salary over 10 years
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What salaries have the biggest potential for increase over a 10-year period?
Sales representatives saw the biggest bump, with salaries rising an average of 56% t o $126,010 per year for workers with up to 10 years’ experience, according to an analysis of data by career and salary company Comparably. This was followed by sales engineers (up 45% to $99,034), operations managers (up 43% to $141,730) and project managers (up 31% to $101,352 over the same period).
Workers saw a bigger percentage jump between 1 and 3 and 3 and 6 years’ experience than between 3 to 6 years and 6 to 10 years. The average salary for a sales engineer rose 27% between 1 to 3 and 3 to 6 years, but rose 14% between 3 to 6 years and 6 to 10 years’ experience. Workers earned most in San Francisco, except sales engineers in New York City ($155,022).
The authors of the report did not give a reason why these jobs had the biggest salary jump, but the commission earned by sales representatives is performance-based and is more likely to rely on the growth of the economy and innovation of new products. The job growth of sales reps is expected to average 7% between 2014 and 2024, according to the Bureau of Labor Statistics.
The results come from Comparably’s records of more than 10,000 workers at small, mid-size and large public and private U.S. tech companies. The data was collected between March 2016 and September 2017. African Americans earned the lowest salaries overall while Asian Americans and Caucasians earned the highest. On average, women earned less than men in every role.
Also see: These co-workers are most likely to tell you what they earn
This echoes another recent study on the gender pay gap. Female personal financial advisers make little more than half (56.4%) of men in the same job, compared to 83% overall, according to a separate analysis by the Institute for Women’s Policy Research, a Washington, D.C.-based research organization. (Critically, this too compared men and women in similar jobs.)
PayScale and Glassdoor are other companies that allow people to compare salaries and see if the amount of time they’ve spent at a company and title is commensurate with their salary. Ask co-workers whether estimates on Glassdoor’s “Know Your Worth” for your job and company are (a) high, (b) reasonable or (c) low. That way, colleagues don’t have to reveal their own salaries.
Overall, however, employers are tightening belts. Pay raises for U.S. employees are not expected to improve, according to a recent survey by professional services firm Aon, based on a survey of over 1,000 companies. Base pay is expected to rise 3% in 2018, up from 2.9% in 2017. Spending on variable pay — incentives or bonuses — will be 12.5% of payroll, low levels not seen since 2013.
And the most sought-after job in America? Data scientists are in high demand, according to Glassdoor. Boasting a median base salary of $110,000 per year and a job-satisfaction score of 4.4 out of 5, data scientist was ranked No. 1 on the company’s annual “Best Jobs in America” list in 2016 and 2017 based on the number of job openings, salary and overall job satisfaction.
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