A better understanding of a market is fundamental to negotiating your career, whether someone with an information management degree is on the brink of taking a new job or discussing pay at a current one. Some new survey data from TechTarget helps shine a light on what your colleagues are making and how your job and compensation might compare.
IT Salaries depend on the fortunes of the companies where people are employed and trends in the industry. Some good news is that budgets are flat or growing and not dropping. Thirty-eight percent of the IT executives said that budgets were growing, while 38 percent saw flat budgets. The bad news: That still leaves 24 percent of companies where budgets were going to drop.
During 2013, 29 percent of executives said that IT headcount had grown by an average of 13 percent; 47 percent saw the number stay flat. Once again, 24 percent saw lower headcount over the year — by 14 percent. Depending on where you work or apply, there is still a lot of uncertainty and economic weakness.
If you’ve made it into the realm of senior IT management, or expect to move up this year, things are looking rosy, depending on where you are. The spread on salaries for those who ran IT operations was enormous. The low end was $30,000, with the top salary closing on $1.5 million. Median compensation for the whole group was $140,000. If you look at the lowest third of earners, average compensation was $101,562. Move to the top third and that number jumps to $225,301.
One of the differences is in bonuses. Only 32 percent of low earners received bonuses in 2013. For the top earners, it was 54 percent. There didn’t seem to be a difference based on industry sector. The three sectors of finance/banking, IT services/consulting, and medical/health care/pharmaceutical/biotech have the top percentages of both high earners and low earners. That could have been a result of the sampling, if those sectors were over-selected. [programpush poi=”MSISM”]
What really seemed to matter was company size, with 500 employees in the organization apparently a major boundary. The smaller companies employed 35 percent of the higher earners, while the larger companies had 63 percent. Push the headcount to 10,000, and 21 percent of the high earners work there but only 5 percent of the low earners. The big money earners also tend to be the CIOs who, in addition to traditional roles, help set company strategy and exhibit leadership outside their departments.
Rest of the crew
Overall, average salary and average total compensation (including bonuses) of IT pros were $105,000 and $116,800. These numbers can vary greatly by specialty. Application designers and developers had higher base salaries by about $2,000. Sound good? It can be, except that they received on the average $3,700 less in bonuses. If bonuses weren’t paid, they were ahead. But if the employer did pay bonuses, they would be behind. Networking pros were behind the curve, with average salaries of $85,300 and total compensation of $90,800.