Annual median pay in the U.S. grew year over year from 2016 to 2017, but not as much as in previous years, according to Glassdoor, a website that tracks pay rate data.
Growth in wages was up 1.0 percent in February 2018, while the growth for the same time in 2016 was 3.4 percent.
“While we saw wage growth tick up slightly this month to 1.0 percent, it’s still a dramatic plunge from the 3.4 percent peak over a year ago, as pay growth hasn’t yet fully recovered from the 2017 summer slump,” said Dr. Andrew Chamberlain, chief economist for Glassdoor, in a statement. “However, with our robust economy, healthy labor market and bright spots among e-commerce positions, healthcare and certain roles in technology and finance, we are likely to see wages rise into this year as employers pull out the stops to fill much needed positions.”
According to Glassdoor, financial advisors saw an increase of 4.4 percent in wages to a median annual payrate of $54,906. This comes as tax season approaches and financial institutions are hiring extra employees.
The United States Bureau of Labor Statistics has estimated that jobs in the finance sector will increase 15 percent by 2026.
Tech industry wages also grew, especially those of network engineer, which was up 3.6 to $71,103 per year, web developer, up 3.2 percent to $65,013 and web designer, up 2.7 percent to $51,709, according to Glassdoor’s data. The company said some tech jobs pay fall for some tech jobs such as UX designer and program analyst, down 1.0 percent and 0.8 percent, respectively.
“We’ve continued to see a steady ebb and flow of wage growth for many technology jobs as companies bump up wages to satisfy demand, seeing those same wages flatten or slow later on as their needs are met,” Chamberlain said. “In general, tech workers today should be fluent in a diverse range of coding languages and skills relevant to their technical field, and not lean too heavily into a singular tech specialty.”
The jobs with the biggest declines in pay in February 2018 were bartender, professor, maintenance worker and quality engineer.
Delivery drivers, restaurant cooks, medical technologists and attorneys were also among the fastest pay growth year over year.