Software Engineer Salary: Everything You Need to Know

Software Engineer Salary: Everything You Need to Know


Software engineers are in demand in the United States, and this is reflected in the salaries they earn. The software engineer's salary varies by location and other factors. The median annual salary for a software engineer is estimated at $122,000, according to the U.S. Bureau of Labor Statistics. This software engineer salary is significantly higher than the median annual wage for all occupations, which is $45,760.


The demand for these skills largely drives salaries for software engineers. The demand for software engineers and other related professions is estimated to grow by 25% for the period 2022 to 2032, and this growth is greater than the average of all occupations. Over the next few years, the job openings for software engineers are projected at 153 900 per year for 10 years. The projected number of software engineers is driven by the need to replace those exiting the profession for various reasons.


The average software engineer salary tends to vary by source as well. Zippia estimates that the average salary for a software engineer is $100,260. Glassdoor, on the other hand, lists top companies hiring software engineers, including expected salaries.


Related: Career Path Software Engineer: Everything you need to know


Here are some of the credible sources for software engineer salary:

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  1. Glassdoor
  2. Indeed
  3. Talent.com
  4. Salary.com
  5. Payscale


Software engineering as a career has for years been recognized as a lucrative career path. This assessment and conclusion have now been amplified by the ongoing advancements in technology and society's shift towards digital solutions. As a result of the shift towards digital technology, the demand for software engineers has increased.


Software Engineer Salary


Factors that affect software engineer salary


Software engineers' salaries are largely influenced by the demand for the skills they have. Experience is one factor that affects the salary of a software engineer, with more experienced software engineers commanding higher salaries than their less experienced counterparts. Two of the most in-demand skills for software engineers are cloud computing and artificial intelligence.


Software engineers in high-cost areas such as San Francisco and New York City are likely to earn more due to location-based cost of living. Salaries for software engineers would also vary by the size of the employer, with those working for large corporations earning more than those working for smaller companies.


Related: Salary differentials


Below, I share software engineer salaries by factors such as experience and location.


Average Software Engineer Salaries by Experience Level


  1. Entry-level: $67,000 - $82,000
  2. Mid-level: $82,000 - $110,000
  3. Senior-level: $110,000 - $140,000
  4. Principal-level: $140,000 - $175,000+


Average Software Engineer Salaries by Location


  1. San Francisco Bay Area: $140,000 - $220,000
  2. New York City: $130,000 - $190,000 
  3. Seattle: $120,000 - $180,000
  4. Austin: $110,000 - $170,000 
  5. Denver: $100,000 - $160,000


Related: Salary Trends in Africa: Everything You Need to Know


Average Software Engineer Salaries by Company


  1. Google: $146,191 (Average)
  2. Amazon: $119,904 (Average)
  3. Microsoft: $146,191(Average)
  4. Apple: $146,150 (Average)
  5. Facebook: $147,524(Average)


Related: Trends in Wages, Salaries, and the Cost of Living


Software Engineer Salaries


Research shows that natural language processing(NLP) engineers will have the highest salary increase in 2022. They were followed by Blockchain engineers specifically driven by the crypto market.



Conclusion


Software engineers are in demand, and those working in high-cost areas can earn even more. If you are interested in a lucrative and rewarding career, software engineering is a great option to consider.


Memory Nguwi
Super User
This article was written by Memory a Super User at Industrial Psychology Consultants (Pvt) Ltd

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