* 2007 Mid-Year Information Technology Compensation Study
IT executives are pulling in slightly higher salaries than last year, according to the results of a new study from Janco Associates.
The average 3.3% percent increase in large enterprises and 3.22% in midsize enterprises outpaces that of middle IT managers and staff. In the report, “2007 Mid-Year Information Technology Compensation Study,” Janco defines large companies as those that earn more than $500 million in gross revenue, while midsize earn $100 million to $499 million in revenue.
CSOs are finding themselves in particularly high demand, with compensation increasing 8.08% in large firms and 8.77% in midsize companies. CIOs too are enjoying financial rewards. According to SEC filings of public corporations, the number of CIOs that earn more than a $1 million continues to increase. A lucky 13 garnered more than $100 million in total annually.
Mean compensation for CIOs in large enterprises rose 4.62% from $169,901 to $177,433. Meanwhile, mean compensation for CIOs in midsize firms has remained flat, though demand is increasing.
IT positions in highest demand pertain to areas of e-commerce, voice and wireless communications, object programming, data warehousing. At midsize companies in particular, there’s a great need for IT leaders to oversee compliance with Sarbanes-Oxley, HIPAA and PCI regulations.
Specific positions that are increasing in demand within large enterprises include VP of Information Services, computer operations shift supervisor, data center facility administrator, database specialist, director of productions/data center, manager of application development, manager of data warehouse, manager Internet systems.
One reason demand for IT pros is increasing could be that Baby Boomers who originally planned to retire in 2003 to 2004 but prolonged their careers are now beginning to retire.
