2024 Mid-Year IT Salary Survey - median compensation for IT Pros over $103K

Chief AI Officer (CAIO) and Project Manager Artificial Intelligence added to survey

High demand for AI/ML IT Professionals drives salaries up

Park City - UT - e-janco.com - Janco’s 2024 Mid-Year IT Salary Survey has just been released. Its data shows high demand for IT Pros with Artificial Intelligence and Machine Learning skills and inflation are driving up salaries.  Median salaries for the positions surveyed now is $103,692.  The data from the survey shows that all salaries for IT Pros in large enterprises went up an average of 2.56%, with most of the major increases at the staff and executive management levels.  In SMBs salaries increase were 5.46% across the board with slightly greater percentages for IT middle management. The Salary Survey can be ordered separately or with the IT Hiring Kit which contains the 2024 Mid-Year Salary Survey, the Interview and Hiring Kit, and up to  full Job Descriptions.

The CEO of Janco, Mr. M. Victor Janulaitis said, “The US IT Job Market now is 4.19 million jobs. Despite layoffs by several tech giants, demand for IT Pros with AI and ML skills across almost all industries still exceeds the supply of qualified individuals.   Our data show that there are c 169K IT jobs that remain unfilled, with much of that due to lack of qualified candidates.” He added, “Interestedly, IT Pros in Mid-sized companies were able to see median salaries exceed the inflation rate.”

The CEO added, “This is the 40th year the firm has conducted the study, it includes hundreds of enterprises in most industries and of all sizes in North America.  A copy of a summary of the survey can be downloaded via our website at https://e-janco.com/salary.htm.”  
The survey is now available for immediate download.  Major findings of the 2024 Mid Year IT Salary survey are:

• Many IT organizations have eliminated or automated functions so there is less of a requirement for “entry-level” and “low-skill” level positions.
• Base salaries for all IT Pros increased by 3.82% - now $98,625.
• Median compensation (including bonuses and fringe benefits) for IT Pros in large enterprises is $105,845 with executives' median of $184,354.
• Salaries for IT Professionals in aggregate rose 3.28% in the past 4 quarters – less than the annualized inflation rate.
• With bonuses and fringe benefits, CIOs fared the best as their total compensation increased by 7.48% in large enterprises and (% in mid-sized enterprises.
• Salary compression is occurring as “new hires” are offered salaries at the top end of the pay ranges for existing positions – often paid more than current employees in the same position
• Attrition rates in mid-sized enterprises are rising faster than in large enterprises.
• Salary levels in mid-sized enterprises are rising faster than in large enterprises 5.46% versus 2.56%
• Demand has remained highest for IT professionals who support artificial Intelligence, security, Blockchain, and e-commerce
• Staffing and retention continue as a primary priority of C-level management

The President added, “AI and ML are expanding the scope of coverage that CIOs have.  Hiring is on a definite upswing for IT Pros with these skills, but many jobs go unfilled due to a lack of candidates. CIOs have moved AI/ML, e-Commerce, security, social media engagement, and digital presentation to be top agenda items. That impacts the governance of Information Technology."

IT Hiring Kit Address AI/ML Hiring Priorities

Janulaitis said, "Included within IT Hiring Kit are details and best practices for how to hire IT Pros who will be successful as positive contributors to the implementation and operation of the IT function."

All of Janco's products are delivered electronically in ready-to-implement formats that are easily customizable by the user. Janulaitis said, "We have clients in over 100 countries that rely on our leading-edge products. We continue to be at the forefront of IT governance and infrastructure management as that is the strength of the firm. Over 2,400 companies have already selected one of Janco's templates to be the foundation for managing this complex operational discipline. "