Yes, a software engineer can become a millionaire. While compensation varies based on experience, some software engineers can earn nearly one million annually.
The average salary for a software engineer in 2022 was $118,000 per year. The keys to earning huge salaries depend on time and place. Engineers with at least seven years of experience can expect 50% or more salary increases than the national average.
Where you are working as a software engineer also factors into your salary. Engineers working for Google, Netflix, or Bloomberg at a senior level will see salaries ranging between $200,000 and $350,000 per year.
The base salaries at even the highest paying companies may never come close to 1 million dollars a year, but engineers are often compensated in other ways. Stock options are a popular way for bigger companies to present engineers with a potentially very lucrative salary contract.
These options represent shares with the potential to go up or down. As mentioned earlier, the opportunity to earn 1 million dollars in total compensation for a single year is possible with established companies.
