Salaries up 4.9% for IT Pros according to Janco Associates
January 06, 2020 (PRLEAP.COM) Business NewsPark City – UT – www.e-janco.com – Average IT Salaries in large corporations are up an average of $4,505 according to Janco in its just-released 2020 IT Salary Survey. At the same time, its forecast for IT job market growth in the next 12 months will be another 100K to 120K jobs will be added.
The median salary (for the positions surveyed) has gone from $90,116 to $94,535. The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, "With the increase in demand for experienced IT professions comes with a resultant increase in compensation. It now is getting harder to find qualified individuals. that is one of the primary drivers of the increases in median compensation. The economic outlook has not looked this good for quite some time." He added, "The Millennial generation has displaced the Baby Boomer generation of IT professionals as the primary drivers of IT technology. That is changing the face of many IT organizations. There are fewer IT pros around who know and prefer the ways of legacy batch processing and more who understand how the Internet activated applications need to work."
Major findings of the 2020 IT Salary Survey are:
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 2020 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 310 IT Job Descriptions.
Janco interviewed over 97 CIOs in the last several weeks as part of its data-gathering process for the survey. Janco's CEO said, "CIOs are 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 and publishes a series of IT and business infrastructure HandiGuides® and Templates including a Disaster Recovery/Business Continuity Template, Security Template, and its semi-annual IT Salary Survey.