Top CIOs Bring Home The Bacon, IT Salaries Flat As Pancakes
Corrected: September 24, 2012
by Jenny Thomas
With the prices of gas, food, and energy all on the rise, an annual salary with six zeros in it could take a lot of pressure off the average American. It sounds outrageous, but that's the range for the top chief information officers at some big corporations. The top salaries from 2011, the last year for which data is available, were recently revealed by Janco, a management consulting firm that monitors the IT job market.
While the annual salaries on the list of the top CIO earners would be like winning the lottery for those of us toiling away in the trenches, it is weirdly entertaining to see how much these executive raked in last year. Janco created the salary listing using public filings from the Securities and Exchange Commission, and the list includes 19 additional CIOs who made in excess of $2 million last year. Take a look:
Janco also publishes a bi-annual IT salary survey, which is intended to help employers and employees know if what they are paying (or getting paid) fits the job description in a particular area or nationwide. The latest survey, which was released in July, draws on data collected throughout the year by Internet-based survey forms sent to businesses throughout the United States and Canada in 78 major cities.
The snapshot of the survey results shows that overall IT compensation has remained flat in the last six months, with the mean compensation across all IT professionals increasing by just 0.68 percent versus 0.81 percent last January. That puts the average salary for all IT professionals around $78,759, up from $78,229 at the beginning of 2012, which makes average salaries at the same levels as back in 2007 and 2008 levels. When we zoom in, Janco estimates salaries in large enterprises rose just half a percentage point from $81,644 to $82,054, while in mid-sized enterprises, the mean total compensation for all positions has increased by 0.87 percent from $74,814 to $75,463.
Janco offered this year-to-year look at salaries in large and mid-sized enterprises:
No dramatic changes, but in these economic times, just being and staying employed is probably something to be thankful for.
While the survey doesn't drilldown so far as to single out what is happening in the IBM i community, it is likely our little ecosystem reflects the big picture findings. The year started out optimistically, as the Janco survey found a fleeting increased demand for IT executives in mid-sized companies early in 2012 as firms started tackling IT projects again under the belief the recession was coming to an end. (Well, strictly speaking, we are not in a recession, since GDP has not declined two quarters in a row, but people are behaving like we are in a recession.) And so many companies have gone back to a more cautious approach, choosing to wait and see how events like the upcoming presidential election and the European Union's fiscal crisis and slowing growth in China may affect recovery in the U.S.
In better news, Janco reports that IT hiring is up since June of 2012, with 24,600 IT jobs added in the United States, according to the Bureau of Labor Statistics. Other happier findings from the mid-year survey include a trend by enterprises to move help desks and data center operations back into their direct control in-house, resulting in an increase demand for data center managers, and a peak in on-shore outsourcing.
The complete compensation study can be ordered here on the Janco Website.
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