Janco Reports IT Salaries Fall
Low Demand for IT Professionals shows few signs of relief
Park City, UT - - Janco Reports IT Salaries Fall - Today Janco released its Mid Year IT Salary Survey which shows that overall pay has declined for IT Professionals in the past 18 months. Janco also found that demand is down for IT Professionals. The CEO of Janco, Victor Janulaitis stated, “The current economic climate with its cost cutting mindsets, business closures, and extensive outsourcing has put such great pressure on the IT job market that overall pay has been impacted. 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. ”
Summary Janco results show the mean compensation (which includes bonuses) for all IT executive positions surveyed is $142,753 (a decrease) in large enterprises and $123,728 (a decrease) in mid-sized enterprises. Janco found that factors driving this fall in compensation and demand were: companies are reducing benefits (including personal and company bonuses) provided to IT professionals; many companies have instituted hiring and spending freezes in addition to laying-off; and outsourcing has been focused on management and support staff where the bulk of compensation expenses are.
Current versus Prior Year Mean IT Salaries
Janco has captured IT compensation statistics since 1996 and publishes its IT Salary Survey semiannually. The IT Salary Survey is based on Janco Associates, Inc. IT Professionals compensation database. Compensation benchmark hiring and salary ranges are established for each position surveyed. In analyzing the study data, the upper and lower quartiles are eliminated to determine benchmark ranges. The benchmark ranges are then used to assess the alignment of a company's actual compensation to the marketplace for each job function. A summary of the most recent salary survey can be downloaded by visiting Janco IT Salary Survey at https://e-janco.com/salary.htm.
Janco is a Mountain States based consulting firm that publishes the IT Salary Survey, Browser Market Data, and the IT Infrastructure HandiGuide™ series of books used by IT, finance, human resources and other professionals as the source of information on topics from policies and procedures, to job descriptions and responsibilities.