Tech Jobs That Will Make You Rich
Tech’s history is full of young millionaires who rode a good idea, had a maniacal work ethic, and added a little luck. But let’s face it – there is a tiny chance you will be the entrepreneur to create the next Snapchat. So how can those of us without a game-changing idea for a company make great money in tech?
Salary comparison and cultural reviews service, Comparably, has some of the answers, which they developed from collecting anonymous compensation data from 100,000 people in tech between March 2016 and February 2018. There are several overarching trends: public companies tend to pay more than private; the bigger the company, the higher the salary; and the gender pay gap remains very real.
Comparably collected data from 15 standard positions at tech companies of varying sizes, including data scientist, marketing manager, operations manager, UX designer, and more. Male operations managers earn an average of $82,000 at private companies but make roughly $116,000 at public ones – a difference of $34,000 per year. The gap is similarly pronounced for senior developers, who earn around $73,000 per year at a less-funded private company but average $130,000 at a public company. Architects or senior product managers make the most, topping out around $155,000 and $163,000, respectively.
Cities vary in terms of pay scale. San Francisco pays the best across the positions that Comparably studied, with New York and Los Angeles following behind. For example, marketing managers at public companies make around $122,000 in San Francisco, $102,000 in New York City, and $93,000 in Los Angeles. The divide is less for UX designers at public companies, who make $123,000 in San Francisco but $107,000 in both New York and Los Angeles – it becomes more pronounced again at private companies, with the cities clocking in at $107,875 for San Francisco, $90,125 for New York, and $85,250 for Los Angeles.
Comparably’s report keenly observes the gender pay gap across similar positions. Some are less pronounced; a female project manager averages $112,000, while men in the same position make roughly $113,000. Other positions, like sales managers at public companies, reveal significant inequality – men make around $151,000, with women earning $115,000. A gap exists but is less egregious for the same post at a private company, with men bringing in around $105,500 and women $80,500.
The gap between public and private closes when equity is taken into account – stock options can be lucrative if a company goes public. But according to Comparably’s data, becoming an architect or senior product manager for a public company in San Francisco is your best path to getting rich. Other options will lead to more variable (though still healthy!) returns.
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