A new survey projects growth and increased pay for workers in the IT industry.
Janco Associates says the average IT professional’s salary has gone up by 3.5 percent this year, to $90,116. The number was $87,072 last year.
The Utah-based market research company’s IT Salary Survey examines three different types of roles within large and midsize businesses. The study uses interviews from 117 chief information officers to come up with its numbers. Janco says executives, middle managers and regular staff are all getting higher wages than last year. Middle managers are seeing the largest pay increase, however, according to the study.
Janco CEO Victor Janulaitis says middle managers will see the biggest increase because companies are experiencing growth and looking for people to lead the implementation of new projects.
“CIOs interviewed after the passage of the recent tax legislation are optimistic that there will be more incentives for increased IT spending and hiring,” he said. “SMBs are actively looking for experienced managers who will be able to manage the increased technology initiatives that they feel will be stated in the next two quarters.”
Janulaitis credits the salary increases to recently signed tax legislation and a decrease in regulations. He offered two other political conditions that will bolster the IT industry.
“If jobs will be brought back to the U.S., immigration [legislation is revamped], and infrastructure spending increased, that should result in a significantly improved economic picture,” he said. “With all of this, there will be a greater need for U.S.-based IT resources. IT hiring and salaries will be up.”
Janco is forecasting 84,000 new positions for the IT industry this year. It’s a big change compared to the “dismal” 2017 statistic of 30,900 new jobs.
The study found that computer systems design enjoyed the most growth out of any IT-related industries. Telecommunications, on the other hand, plummeted over the course of 2017. While the entire industry saw a net total 30,900 new jobs, computer systems design accounted for 46,800 new ones, and telecommunications accounted for 32,900 lost positions. AT&T announcing layoffs for 713 employees is a good example of the crossroads the industry is facing.
Janulaitis posited a positive outlook for 2018 despite a “downward bias” in IT job hiring over the last two years.
“Most of the C-level executives interviewed are comfortable with the overall direction of the economy and prospects for new IT jobs,” he said. “This also was reflected in their planning for greater hardware/software acquisitions and major application development and implementation. Many of these executives feel they will have to come back and get more monies in the third and fourth quarters.”