93% of IT Professionals Have Company Paid Health Insurance
Park City, UT - The preliminary results of Janco's January 2006 IT Salary Survey shows that 93% of IT professionals have some form of company paid health insurance. Other benefits that over 50% of these same individuals receive are: life insurance (78%), 401K (71%), disability insurance - beyond mandated requirements (58%), flexible hours and/or schedule (56%), personal performance bonus (54%), and trips for planning and training (50%).
Victor Janulaitis the CEO of Janco said, "There are a core set of benefits that are required by enterprises of all sizes to attract and retain IT professionals. Even firms that provide IT professionals on a contracting basis need to and do provide these benefits. " He added, ". . . with the rise in heath care insurance costs employees of all firms are required to share more of the cost and elimination of health insurance is not an option. "
The 2006 IT Salary Survey also found that enterprise based performance bonuses were limited to executive IT management with only 38% qualifying. Stock options which at the top of the dot com boom were the one "must have" benefit now are only available to 29% of the IT professionals.
Janco has captured IT compensation statistics since 1996 and publishes the resultant IT Salary Survey semiannually. The IT Salary survey is based on Janco Associates, Inc. IT Professionals compensation database, and compensation benchmark ranges are established for each normalized job position. In analyzing the study data, the upper and lower quartiles are eliminated to determine Benchmark Ranges. The benchmark ranges are then used to assess the alignment of a company's actual compensation to the marketplace for each job function. The results can be assessed using the following guidelines. A summary of the most recent salary survey can be download by visiting https://www.e-janco.com/SalaryBenefits.htm