IT Salaries, Perks Continue to Shrink
From BPO Industry News
As the economy continues to languish, IT salary trends offer little hope to both working and unemployed IT professionals, as companies cut wages and fewer high-tech positions become available due to attrition.
Janco Associates today released data from its 2009 Mid Year IT Salary Survey that proves compensation for high-tech workers isn't improving, but declining slightly as more companies prepare themselves for a long economic recovery.
IT Pros suffer
“The current economic climate with its cost-cutting mindsets, business closures and extensive outsourcing has put such a great pressure on the IT job market that overall pay has been impacted,” said Victor Janulaitis, CEO of Janco, in a statement. “Added to that, many baby-boomers who had planned on retiring in the next few years are not leaving the job market and you have more potential employees than positions available. ”
According to the survey of 215 large companies and 526 mid-size organizations, IT salaries fell an average of .19% overall, with midsize enterprise IT executives seeing a nearly 2% decline in total compensation between January 2008 and June 2009. Middle managers at large organizations saw total pay decline by close to .5% as well. The mean compensation, including bonuses, for all IT executive positions surveyed was $142,753 in large enterprises and $123,728 in midsize enterprise companies. Both figures represent a decrease in total compensation on average across some 73 positions surveyed.
The positions that show an increased demand tend to have significantly higher offering salaries. This in turn, inflates the level of compensation for individuals who remain in those existing positions.
Bright Spots in Job Market - Project Managers
The one Project Manager type that has been impacted the most by the economy is Network Technical Services. That is the area where many enterprises (Mid-sized Enterprises in particular) have made cuts.
Currently the Mid-Atlantic market is toughest place to find a job.