The Rise of Pay Transparency: How Knowing Your Peers’ Salaries Could Help You Earn More in Tech

Ever wondered what your peers and colleagues earn? Increasingly, you can find out thanks to pay transparency legislation and regulations, which are rolling out across the country. Enacted at the state and city level, you can now expect to receive open information about salary in 16 U.S. locations, which include the states of California, Illinois and Hawaii, as well as Jersey City and New York City. This legislation aims to bring more clarity to salary ranges and help individuals understand the pay landscape in their respective fields.

Understanding what companies are paying for specific roles can be eye-opening for many in the tech industry. Websites like Glassdoor provide some insight into average salaries, but these figures are based on user feedback and may not always be accurate. As many job descriptions now include salary information, it has become easier for aspiring tech workers to gauge what it takes to reach a six-figure salary in the industry, which is a goal for many Americans.

Apart from transparency in pay, there are several strategies individuals can use to work towards achieving a $100k paycheck in the tech sector. Benchmarking your earnings against colleagues, researching competitor salary rates, requesting pay reviews, and considering job switches to new roles in high-demand sectors like cloud computing, cybersecurity, and generative AI can all contribute to earning a competitive salary. Additionally, leveraging transferable skills and exploring roles in growing technical areas such as AI can help individuals enhance their earning potential in the evolving tech landscape.