Mid-Year IT Salary Survey Released by Janco Associates
Average IT Salaries in large enterprises have increased an average of $2,091 or 2.25% since January 2018 according to Janco
Park City – UT – Park City, UT — https://e-janco.com – Average IT Salaries in large corporations are up an average of $2,091 according to Janco in its just released 2019 Mid-Year IT Salary Survey (https://e-janco.com/salary.htm). At the same time, its forecast for IT job market growth is that over 107,000 net new IT jobs will be created in 2019.
IT Job Market - January 2024
There has been a major shift in the creation of new IT Jobs - AI and economic slowing are the drivers. The IT Job Market shrank by 57,400 jobs in FY 2023. This number is subject to change as the BLS can adjust the data for December.
The median salary (for the positions surveyed) has gone from $90,116 to $91,901. Janco forecasts that on average approximately 8,400 new IT jobs will be created in each of the remaining months of 2019 resulting in approximately 107,500 new domestic IT jobs. The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, “The economic picture has created a positive outlook for job growth in general and Information Technology in particular. However, we are now seeing both an increase in attrition rates within the IT function and many positions that remain unfilled because qualified candidates cannot be found. This is causing CIOs and HR department to re-think both existing salary rates and benefits that are offered to potential employees."
Major findings of the Mid-Year 2019 IT Salary Survey are:
- Over 144,000 net new IT jobs were created in the past 18 months.
- In the last two quarters of 2018, staff level positions in IT organizations of SMB's had the greatest demand for new hires.
- Between January 2018 and June 2019, the total mean compensation for all IT Professionals increased from $90,116 to $91,901.
- In the last 18 months compensation for IT executives have fared better in large companies than mid-size companies with increases that were 2.25% versus 1.98%.
- In mid-sized enterprises, the mean total compensation for all positions increased from $87,254 to $88,732.
- In large enterprises, the median compensation rose from $92,979 to $95,070.
- Some markets like the SF Bay Area, Boston Metro, and Salt Lake areas are suffering significant shortages of qualified IT professionals.
- Large organizations are planning to beef up their middle management as those enterprises focus on Big Data, Blockchain, SEO and Smartphone and tablet connectivity.
- Positions in highest demand are associated with blockchain, e-commerce, application development security, big data, distributed/mobile system project management, and quality control.
- Onshore outsourcing and H-1B visa jobs have peaked. The America first campaign has resulted in more infrastructure functions being moved in-house.
- A new position was added to the survey – Manager Blockchain as e-commerce continues to expand
- KPI metrics are now the way performance is being measured.
The CEO of Janco added, "CIOs are now more optimistic about the direction their organizations are moving and are looking forward to increased budgets and staffing. However, with the improved employment opportunities, they are facing challenges in both compensation levels paid and promotion opportunities for existing staff. Some have already experienced the loss of highly qualified IT pros who have moved on and increased the attrition rate for IT Pros.”
The 2019 Mid-Year IT Salary is available via electronic distribution either as a standalone product or with the IT Hiring Kit which contains the IT salary survey, Interview and Hiring Guide, and a full set of IT Job Descriptions.
Janco interviewed over 123 CIOs in the last several weeks as part of it's data gathering process for the mid-year survey. Janco's CEO said, "CIOs were optimistic that the economy will continue to improve, and increased IT spending and hiring will be the rule of the day for at least the next few quarters.”
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.