IT Salaries Are Rising But at a Slower Pace

IT Salaries Are Rising But at a Slower Pace

Computerworld’s 31st annual special report surveyed over 2,700 tech professionals including over 1,200 IT managers and reveals some positive compensation trends for the year.

After years of anemic raises from 2009 through 2014, IT workers finally saw significant pay bumps in 2015 and 2016, with average increases of 3.6% and 3.9%, respectively. Salaries are still rising at a good clip in 2017 but lagging a bit behind the previous two years, with survey respondents reporting an average 3% increase in total compensation (base salary plus bonus).

If you’re thinking of switching jobs in the next 12 months, in search of higher pay, signs are promising. More than 40% of managers expect to grow their IT staff in 2017. For the ninth year in a row, application development has topped the list of skills IT managers said they expect their company will hire for 2017.

The types of skills that are the most sought after are:
Application development
Help desk/IT support
General IT function in multiple areas
Business analytics
Network administration
Cloud computing
Business Intelligence
Database analysis and development

The most sought after skills by hiring managers correlate to the IT disciplines that are seeing the highest average pay in 2017:
Cloud computing, $129,000
ERP, $126, 334
Security, $123,063
Enterprise application integration, $120,594
Application development, $114,026

What remains to be seen is industry experts can’t agree on whether or not policies from Washington are likely to help or hinder IT which translates to some anxiety about what lies ahead.

Overall, 63% of Computerworld survey respondents said they feel secure or very secure in their current jobs, a figure that’s virtually unchanged from last year. Those who are worried about job security say their concerns have less to do with the new administration’s possible effect on IT spending than with modern business realities, such as IT outsourcing and corporate mergers and acquisitions. For instance, 30% of survey respondents named “lost jobs due to outsourcing” as among the top five challenges facing IT workers today. And are feeling fairly secure in their position, 63%.

A majority (62%) of respondents reported being satisfied or very satisfied with their current job; however, 20% said they were more satisfied 12 months ago than they are now.
When asked what matters most to them about their job, respondents cited tangible rewards such as base pay (selected by 43% of respondents), benefits (37%), and vacation time (34%). But many also named less tangible factors, including job stability (39%), flextime and telecommuting options (36%), being valued for their opinion and knowledge (28%), the office community (24%) and having challenging work (25%).