IT Salaries Fall -- Hiring at All Time Low
IT Salaries Fall -- Hiring at All Time Low - As the economy continues to languish, IT salary trends offer little hope to both working and unemployed IT professionals, as companies cut wages and fewer high-tech positions become available due to attrition.
Janco Associates has released data from its 2009 Mid Year IT Salary Survey that proves compensation for high-tech workers isn't improving, but declining as more companies prepare themselves for a long economic recovery.
NOTE: The graphic below is updated with each new IT Salary Survey. The chart compares the data from the period of the survey to prio period.
Latest Median IT Salaries Updated Every Six Months
For the latest compensation data go to the current IT Salary Survey
"The current economic climate with its cost-cutting mind-sets, business closures and extensive outsourcing has put such a great pressure on the IT job market that overall pay has been impacted," said Victor Janulaitis, CEO of Janco, in a statement. "Added to that, many baby-boomers who had planned on retiring in the next few years are not leaving the job market and you have more potential employees than positions available."
Enterprises that participate will be sent a summary of the January 2010 IT Salary Survey when it is released.
Job Descrptions Key to Management of IT Professionals
The Internet and IT Position Descriptions HandiGuide® was completed in 2009 and is over 600 pages; which includes sample organization charts, a job progression matrix, and 220 Internet and IT job descriptions. The book also addresses Fair Labor Standards, the ADA, and is in a new easier to read format.
Well defined job descriptions help CIOs to to justify how each position supports the enterprise's key objectives. CIOs can then:
- Establish quantitative and objective metrics to evaluate job performance
- Validate that compensation is competitive, based on current market rates for the position and metro area the job is in
- Look at both internal and external candidates for open positions when they need to be filled
- Apply a consistent selection process to all candidates
- Include key stakeholders in your employee selection process
- Train your interviewers in your employee selection process
- Give your interviewers guidance to help them probe deeper into a candidate's suitability and compatibility with the culture of your enterprise
- Conduct comprehensive reference and background checks on job candidates and validate the information on resumes of all employees
- Ensure your orientation process helps re-deployed people become productive faster.