Section 04: Tech Industry Metrics
Tech Industry
Average Annual Earnings
Earnings are a key tool for recruiting talent. Workers must weigh compensation against the cost of living when comparing locations
A worker in the tech industry in California may earn a higher salary than a tech industry worker in North Carolina, but the wages may be comparable due to North Carolina’s lower cost of living.
When tech industry wages are normalized for purchasing power, which accounts for North Carolina’s lower cost of living, the state ranks #18 in the country
The state’s ranking fell three spots from last year’s position of #15. The cost of living in the state has risen in recent years and may be affecting competitiveness.
Average Annual Earnings for Tech Industry Employees with Purchasing Power, 2024
Average Annual Earnings for IT Industry Employees with Purchasing Power, 2024
When adjusted for purchasing power, North Carolina remained ranked #17 among the states for average IT industry wages
Like the total tech industry, IT industry wages in North Carolina are lower than the national average. The state’s relatively low cost of living can make it attractive to tech firms seeking lower operating costs. Within the state, IT wages are almost double the average wages across all industries.