IT Job Market Growth Continues 79,800 New Jobs Created in 2018
Over 84,00 new IT Jobs will be created in 2019 - Median Compensation for IT Professionals is over $93,000
Park City UT Janco Associates Inc. The IT job market is the best it has been in some time with 79,800 new IT jobs created in 2018 according to Janco Associates Inc.
The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, “Hiring for IT Professionals continues unabated. The economy continues to create demand for more IT Professionals. Several new positions with new responsibilities have been added to address Robotics, IoT, SEO, Social Networking, Compliance Mandates, and Identity Management. He added, “CIOs are creating new jobs that address the increased focus on security, data privacy, Internet-based operations, and digital automation.
The CEO said, “The only dampening factor is the recent downturn in the equity markets and the slowdown in China’s economy. In addition, technology mega corporations, like Apple, Google, and Facebooks, are faced with a prospect of no to slow growth from international economic prospects and increased scrutiny due to privacy and security concerns. This could be a dampening factor on U.S. IT Job Market Growth.”
The CEO added, “The median salary for all IT Professionals based on our latest salary data is $93,077. That is $2,628 higher than the same time last year. Supply and demand is working in favor of qualified IT professionals.” More information on this available on our web site https://e-janco.com/salary.htm.
NOTE: The graphic below is updated with each new IT Salary Survey. The chart compares the data from the period of the survey to prior period.
Latest Median IT Salaries
For the latest data go to the current IT Salary Survey
Janulaitis noted, “IT Pros are much more mobile as they have the luxury of a great job market. This has increased the attrition rates within the IT function in many enterprises. For the first time in several years, CIOs are now dealing with staff retention issues. To combat this, many organizations have budgeted across the board increases in compensation for many key positions to minimize potential loss of key staff as the job market continues to stay hot. "
Analysis of IT Job Market growth shows that in 2018 there was an addition of 79,800 new jobs. That is 21,000 more new jobs than were created in 2017. Janco conducted several spot interviews with two dozen CIOs in December. All of those interviewed said they were actively recruiting for IT professionals for new development activities and replacements for those who have left in the last few months. Attrition rates are the highest they have been in the last several years. Janco also found that several organizations have slowed the hiring process as they work to absorb the new hires.
The CEO of Janco added, "IT and HR recruiting managers are optimistic. They are focusing on additions to the IT staff as they begin the new year. However, the recent stock market corrections and the increase in interest rates by the FED has caused concern.”
Current IT Hiring Plans - IT Job Hiring Stalls
With the move towards Artificial Intelligence, the treat of an economic downturn, inflation, high energy cost, and the continued wars will continue dampen hiring for IT pros over the next few quarters.
Janco's CEO said, "CIOs are optimistic that the economy will be one that will foster growth. 2019 budgets for Information Technology are up in over 80% of organizations that we have surveyed. A definite bullish sign.”
Janco is an international consulting firm that follows issues that concern CIOs and CFOs. The firm publishes a series of IT and business Infrastructure HandiGuides® and Templates including IT Infrastructure Policies and Procedures, Disaster Recovery/Business Continuity Template, Security Template, IT Job Descriptions, and its semi-annual IT Salary Survey.