Average IT Salaries up an average of $3,796 according to Janco
Year to year comparisons show IT salaries up by 4.35% and Janco forecasts 82,700 new IT jobs will be created in calendar year 2018
Park City – UT– www.e-janco.com – Average IT Salaries up an average of $3,796 according to Janco in its just released 2018 Mid-Year IT Salary Survey (https://www.e-janco.com/salary.htm). At the same time its forecast for IT job market growth is that approximately 82,700 net new IT jobs will be created in 2018.
IT job market growth reverses trend
IT salaries on a year-to-year comparison have risen 4.35%. The median salary (for the positions surveyed) has gone from $87,175 to $90,971. Janco forecasts that on average approximately 7,000 new IT jobs will be created in each of the remaining months of 2018 resulting in approximately 82,700 new domestic IT jobs. The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, “The economic picture has created a positive outlook for job growth in general and Information Technology in particular. However, we are now seeing both an increase in attrition rates within the IT function and a number of positions that remain unfilled because qualified candidates cannot be found. This is causing CIOs and HR department to re-think both existing salary pay rates and the salaries that are being offered to potential employees."
Median IT Salaries are up for IT Pros
Major findings of the 2018 IT Salary Survey are:
- Companies are gearing up their internal US-based IT organizations pushing IT salaries and hiring up.
- Compensation for all IT Professionals increased by 4.35% - an average of $3,796.
- In the last 12 months compensation for IT executives have fared better in mid-sized companies than large companies.
- The greatest increases have been at the staff levels in large companies with an increase of 4.97% in large enterprises and 4.79% in mid-sized enterprises.
- Large organizations are planning to beef up their middle management as those enterprises focus on Big Data, Blockchain and Smartphone and mobile connectivity.
- Succession planning and promotion of Millennials into more senior roles is becoming a priority.
- Positions in highest demand are associated with security, e-commerce, application development, big data, distributed/mobile system project management, and quality control.
- The ‘America First’ campaign has resulted in more infrastructure functions being moved back to the U.S. from off-shore operations.
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 2018 Mid-Year 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 a full set of IT Job Descriptions.
Janco interviewed over 101 CIOs in the last several weeks as part of it's data gathering process for the mid-year survey. Janco's CEO said, "CIOs were 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.”
Number of new IT jobs created is positive
In addition, he said, “With 15,700 net new IT jobs in the last 3 months, we believe that many IT pros who have stayed with their companies through the last several years will begin to look for new and better opportunities. IT staff attrition rates will be a major concern for many CIOs and IT Managers.”
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 a Disaster Recovery/Business Continuity Template, Security Template, IT Job Descriptions, and its semi-annual IT Salary Survey.