IT salaries will improve in 2013, says report
Janco's 2013 Salary Survey suggests that IT professionals might be able to expect to see a modest increase in pay over 2013.
The survey, a semi-annual collaboration between Janco Associates and eJobDescription.com, includes data from 249 large and 785 mid-sized organizations within the information technology industry, using data captured in Q4 2012.
This year's release suggests that across America, both hiring rates and salaries have managed to marginally improve, especially within cities and cosmopolitan areas.
The CEO of Janco, Victor Janulaitis stated:
"Salaries are up 1.98 percent for IT pros in the past 12 months and the big winners are CIO [chief information officers] -- especially those in larger enterprises. Our study also found that the average tenure for CIOs has moved up to 4 years 3 months from 4 years 2 months last at this time."
According to Janco, IT salaries have increased by an average 1.98 percent over the past year. Between January 2012 and January 2013, the total average pay slip has raised from $77,773 to $79,312, which puts the average IT salary back at levels reported from 2007 - 2008.
In mid-sized enterprises, the average salary for all information technology positions has increased by 2.39 percent; going from $74,016 to $75,784. In larger enterprises, the average level of compensation is now $82,840, a rise of 1.61 percent based on an average figure of $81,531 last year.
Chief Information Officers seem to have fared best when it comes down to the pay packet, as the mean base compensation and bonuses are higher for CIOs now than in 2012. The survey says that the average paycheck has increased by over six percent for larger firms and is now $182, 210, whereas mid-size company CIOs have seen a modest increase of 1.6 percent and now take home an average of $165,820. In addition, the average time a CIO keeps hold of their job has increased from 4 years and 2 months to 4 years and 3 months, which is one of the reasons why CIOs have seen a salary increase.
However, it's not all good news in the tech industry. The researchers also found that cost control is a major player when it comes down to balancing the bank sheet and keeping businesses profitable in a volatile economy -- and due to this, there has been an increase in the number of part-timers and contractors who work only to complete specific projects. Lay-offs appear to also have lowered, but businesses continue to keep the size of their IT departments limited.
According to Janco, IT professionals have fared better if they work for mid-sized companies, as they have managed to recoup the majority of financial losses suffered in the recession. The firm also states that in larger companies, IT executive salaries are only just below what they were in 2008.