As of August 01, 2026, the average salary for a Software Developer V in Hoyt Lakes, MN is $164,110 per year, which breaks down to an hourly rate of $79.
However, a Software Developer V's salary can vary significantly. Here’s a look at the typical salary range:
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A Software Developer V's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, skills, and company size can directly affect your earning potential.
Experience is a primary driver of a Software Developer V's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Senior Software Engineer | 4-7 years | $123,388 |
| Software Developer IV | 7+ years | $142,754 |
| Software Developer V | 7-10 years | $164,107 |
| Software Development Manager | 10+ years | $162,553 |
| Director of Software Engineering | 10+ years | $205,335 |
What Am I Worth?
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 2.92% |
| Open Source | 3.61% |
| AWS | 2.75% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Relationship Management
|
$198,573 |
21%
|
|
Accountability
|
$173,957 |
6%
|
|
Innovation
|
$173,957 |
6%
|
|
Networking
|
$170,674 |
4%
|
|
Scrum
|
$170,674 |
4%
|
|
Initiative
|
$169,033 |
3%
|
Software Developer V salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $183,712. While startup companies pay approximate $155,416.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $155,416 |
| Growth Stage | 51~500 | $164,371 |
| Established | 501~5000 | $177,406 |
| Enterprise | 5000+ | $183,712 |
For Software Developer V roles, the industry you choose can affect earning potential by as much as 81% (the gap between the highest and lowest paying industries). Data shows that the Software & Networking and Financial Services sectors offer the strongest compensation, at 40% above the average. In contrast, Software Developer positions in Transportation or Hospitality & Leisure typically offer lower base pay, as these industries often view Software Developer V as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Software & Networking | $229,754 | $110.0 | 40% |
| Financial Services | $213,343 | $103.0 | 30% |
| Internet | $205,138 | $99.0 | 25% |
| Pharmaceuticals | $196,932 | $95.0 | 20% |
| Biotechnology | $188,726 | $91.0 | 15% |
Understanding how a Software Developer V's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on August 01, 2026For a Software Developer V, the most direct path to higher earnings is advancing to the Software Development Manager role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $162,560 - a projected growth of -1% over your current level.
Ready to take the next step in your career? Browse thousands of current Software Developer V job openings on our job board. Use the search bar below to find your perfect match.
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