In general, the study showed there was a small decrease in overall compensation and demand for IT professionals. On the positive side, there was an increase in compensation for CIOs due to year-end bonuses.
Victor Janulaitis, CEO of Janco, said, "The return of year-end bonuses is a positive sign. It has been several years since we have seen a significant number of our participating enterprises providing as many bonuses as they have this year." In addition, he said "The increase in bonuses for CIOs is a leading indicator of an improved situation for long-term demand and pay for all IT professionals.
The increase in bonuses is in line with the marketplace over the past few years. According to past research by Janco, there was a decrease in salaries and demand for top-level IT positions at large companies in 2003, and a "leveling off" of salary increases at all levels. However, in 2004, researchers found that the downward trend stopped and compensation began increasing, "at least for the top positions."
Currently, there is a high demand for disaster recovery, security, programming and networking professionals, and median compensation levels are increasing.
According to a study summary, available on the Janco Web site, "In comparing January 2004 to January 2005, salaries for IT executive management in large enterprises have fallen for CIOs, while they have increased slightly for the CIO's direct reports."
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Other key survey findings include:
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The study showed that, in addition to "traditional" IT positions, voice and wireless communication and security positions have been upgraded within many companies. Since 2003, these positions have become mid-level to senior-level positions, as opposed to the lower to mid-level positions they were prior to 2000.
In response to the "next wave" of wireless technology, according to the study, there is a high demand in the Internet and networking areas of e-commerce, the aforementioned voice and wireless communication, object programming and data warehousing.
The overall economy has played a role in the dynamic of IT positions. For example, according to the study, individuals who had planned on retiring in 2003 and 2004 and have not recovered from their retirement portfolio's shrinkage are continuing to defer retirement. In the interviews Janco conducted, it was discovered that a significant number of these professional have "focused on staying employed versus looking for increases in compensation."
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Percentage of change in mean salary - Top-level IT executives in LARGE organizations | |
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VP - Chief Information Officer |
+4.16% |
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VP - Security (CSO) |
0% |
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VP - Administration |
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