Tuesday, February 18, 2014

Not Good News for IT Professionals – Salaries Remain Flat

The 2014 Salary Survey, just released by Janco Associates and eJobDescription.com, is not good news for IT Professionals.  The survey shows that hiring and salaries has not significantly improved for IT professionals in most North American metropolitan areas.
Salaries are up less than 1% for IT pros in the past 12 months and the only winners are the top level postions in mid-sized companies.  Salaries for most IT pros have finally gotten back to the level they were at in 2007 and that is a very good sign.
The seven major findings of the survey are:

  • IT compensation for all IT Professionals has increased by 0.67% in the last 12 months.
  • CIOs compensation has stayed flat in larger companies and increased in smaller and mid-sized companies in the past 12 months.
  • Positions in highest demand are all associated with the quality control, BYOD implementation, and service level improvement.
  • Over the long term IT executives have fared better in mid-sized companies than large companies.
  • In 2013 the IT job market grew by 74,900 versus 62,500 in 2012 according to the Bureau of Labor Statistics (BLS) – better but not enough to employee the number of IT graduates from US universities or to increase demand.
  • Lay-offs seem to have tapered off, however some companies continue to cut the size of the IT organizations.
  • Cost control is still the rule of the day; however we have seen an increase in the number of "part-timers" and contractors who are focused on particular critical projects. This has resulted in few IT Pros getting health coverage
  • Companies are continuing to refine the benefits provided to full time IT professionals. Though benefits such as health care are available to 80%, IT professionals are now paying a greater portion of that cost.
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