Demand is High for CSOs in Large Enterprises
Park City, UT - Janco has found that the demand for selected positions within the IT function is high. Victor Janulaitis, the CEO of Janco said, “We have found that in larger IT enterprises (those with $500MM or more in revenues) the demand and hiring is high for VP-Security (CSO), Manager Voice and Data Communication, Production Control Specialists, and Production Control Analysts. Janulaitis added, “In mid-sized enterprises (those with $100MM to $500MM in revenues) VP - Administration, VP - Technical Services, Manager - Quality Control, Manager - Technical Services, Change Control Supervisor, Data Security Administrator, Director - Systems & Programming, Forms and Graphics Designer, Hardware Installations Coordinator, and Web Analyst are in high demand. ”
The results of Janco's June 2006 IT Salary Survey shows the mean compensation (which includes bonuses) for executive IT positions surveyed now is $140,525 in large enterprises and $126,437 in mid-sized enterprises. (Large enterprises have over $500 million in revenue and mid-sized are between $100 to $499 million in revenue). At the same time 87% of IT professionals have some form of company paid health insurance. Other benefits that these same individuals receive are: life insurance (75%), 401K (68%), disability insurance - beyond mandated requirements (63%), flexible hours and/or schedule (61%), personal performance bonus (53%), and trips for planning and training (42%).
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. This includes firms that provide IT professionals on a contracting basis need to 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 but elimination of health insurance is not an option. "
The June 2006 IT Salary Survey also found that enterprise based performance bonuses were limited to executive IT management with only 42% qualifying. Stock options, which at the top of the dot com boom were the one "must have" benefit, now are available to 45% 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/salary.htm