Computerworld Salary Survey Finds Increase in Technology Salaries Outstrips National Average
FRAMINGHAM, MA – SEPTEMBER 5, 2001 – Although the unsettled economy has caused companies to curb the exorbitant bonuses of 2000, Computerworld's 15th Annual Salary Survey reveals that base salaries for information technology professionals continued to grow faster than those paid to the average American worker.
The survey of IT executives uncovered a steady six percent increase over 2000 in the salaries of IT professionals ranging from senior management to entry-level positions. Although this represents a moderate pay hike, it is greater than the four percent wage growth typically received by the average American worker. However, despite salary increases, the survey noted that 80 percent of IT managers are eschewing quarterly and biannual salary reviews in the face of the economic downturn and are returning strictly to annual reviews.
Bonus programs were also a significant casualty as companies felt the pinch of the economic decline. Half of the companies surveyed reported that they have frozen signing bonuses and stock options at previous levels, while 20 percent have eliminated such perks altogether. Many companies now rely on non-monetary compensation to provide employee rewards, with 70 percent of respondents listing "training" as their top perk.
"While technology salaries are rising faster than those of the average worker, the rate of increase for IT professionals has dropped from what had been double-digit growth two years before," said David Weldon, IT careers editor, Computerworld. "With the turn in the economy and the consequent staff reductions, there is a glut of talented high-tech professionals and as a result IT managers have lowered salaries for new hires."
Several other trends emerged in Computerworld's survey. IT managers noted that database administrators, network administrators, technical support personal and Web developers can expect to receive the largest wage hikes in the coming year. In addition, after being scarred by liberal hiring policies during the dot-com boom, numerous IT managers emphasized the need for greater scrutiny of incoming employees via probationary periods for new hires.
"Budgets are being slashed across the board, but companies continue to pursue business goals with significant technology needs," commented Maryfran Johnson, editor-in-chief of Computerworld. "Even with a growing pool of available high-tech workers, senior management understands that they must earmark funds for skilled IT pros in order to realize their technology-related objectives."
Computerworld's survey was mailed to IT executives across the United States in May and June of 2001. Five hundred and twenty-two IT executives responded to the survey, providing information about annual salaries and the changes in salary levels from 2000, as well as the additional compensation for 23 IT senior management, middle management staff and entry-level positions.
For the complete results of the 15th Annual Salary Survey, or to speak with David Weldon or Maryfran Johnson, please contact Iain Pollock at (781) 915-5015 or email@example.com. The survey is also available online at http://www.computerworld.com/salarysurvey.
Based in Framingham, Mass., Computerworld, Inc. is a complete information services company for the IT Leader community, providing print and online publications, books, conferences and research services. The company's flagship weekly newspaper for IT Leaders has been recognized numerous times by Folio: Magazine and the Computer Press Association as the best computer newspaper. With a circulation of 250,000, Computerworld has a total audience of 935,200, according to IntelliQuest CIMS v.7.0. News and resources for the IT Leader community are available at http://www.computerworld.com.
Computerworld is a business unit of IDG, the world's leading technology media, research and event company. IDG publishes more than 300 magazines and newspapers and offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 300 targeted Web sites in 70 countries. IDG is also a leading producer of 168 computer-related events worldwide, and provides IT market analysis through 51 offices in 43 countries worldwide. Company information is available at http://www.idg.com.