Pay increases for IT Pros were the worst since the DOT.COM bust according to IT Salary Survey
January 06, 2021 (PRLEAP.COM) Business NewsPark City UT www.e-janco.com IT Salaries were flat in 2020. That is the first time that has happened since the DOT.COM bust. Middle managers in IT organizations felt the burden the most as mean total compensation for those positions surveyed was lower than in prior years.
The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, "In reviewing the data from our latest IT Salary Survey we found that total compensation was flat. The one factor that stood out the most was the reduction or flat-out elimination of discretionary bonuses. That added to the fact that SMBs, where most IT pros have positions, were the most adversely effected by the shutdowns. That drove many companies to manage costs by limiting hiring and salary increases."
Janulaitis said, "On the bright side, there has been a pick-up in development activities associated with initiatives which support Work From Home telecomputing and related mobile applications. That could be the spark that drives any growth in salaries and hiring in the near term. However, in our opinion, salaries for IT pros will remain flat for at least the first and second quarters of 2021."
The CEO added, "In a series of conference calls with C-Level executives, we found that hiring of many positions at all levels of IT management were put on hold. The only hiring that is taking place is for key replacements and employees with selected skills to support C-Level mandated development activities."
Major findings of the 2021 IT Salary Survey are:
The CEO of Janco added, "CIOs are now less optimistic about the direction their organizations are moving and are cautiously managing budgets, salaries, and staffing. They are waiting to see what the impact of the vaccines will be on the overall economic picture."
The 2021 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 312 IT Job Descriptions.
Janco interviewed over 101 CIOs in the last several weeks as part of its data-gathering process for the survey. Janco's CEO said, "CIOs are not very optimistic that the economy will continue to improve."
More information on the 2021 IT Salary Survey can be found at https://www.e-janco.com/salary.htm
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.