Knowing your market value as a software developer is important for a number of reasons. First of all, if you learn programming to make it your profession and make a living out of it, then your market value is one of the most straightforward indicators of the level of your skills. Secondly, estimating your market value is also quite important from the career development point of view, as you won’t be able to plan your career properly without knowing how much you are worth now. Finally, it is just a very practical knowledge to have as it increases your chances of actually selling your skills on the market at a higher rate and making more money. Today we are talking about estimating your market value as a software developer.
6 ways to estimate your market valueWhat is a software developer’s market value exactly? It is simply the amount of money the market is ready to pay for your skills at a given moment. You can use a number of ways to estimate this amount.
1. Real job offers.The best and most accurate way to estimate your market value as a software developer is to get first-hand information from the market itself. In order to do that, you would need to apply for real jobs that fit your skills, go through job interviews and receive a job offer. Receiving around 3-4-5 job offers should be enough to estimate your market value in that particular location. Don’t forget that location is one of the most essential factors influencing the job market in general and your value on it, as factors such as cost of living, taxation, etc. are always taken into account. If you would like to estimate your value across multiple locations or aren’t able to apply for a real job and get job offers yet, there are other methods you can use.
2. Job websites.One of the easiest ways to estimate your market value is to check several of the most reputable and popular job and recruitment websites on the Internet. Here are some:
3. Social networks and forums.Social networking websites can also be a great source of relevant information. LinkedIn, for example, provides its Premium subscription users with information about average salary estimation for each position. Web forums and developer-focused communities, such as StackOverflow, LeetCode, and Reddit, are frequently used by real software developers to discuss salaries. You can get a lot of information by reading comments to posts across these websites and in mainstream social networks such as Facebook.
4. Independent market studies.As the third option of utilizing data openly available online, you can use various surveys to estimate your value based on information from thousands of other software developers.
- Stack Overflow Developer Survey is the largest and one of the most comprehensive software developer surveys with various market-related questions including salaries.
- Average Salary Survey for Software Developer position
- ERI Economic Research Institute’s Software Engineering Salary Survey