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Newsletter Topics
- Participate in the survey get a summary e-mailed to you when it is completed
- IT Salaries Impacted in the Downturn
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Participate in the survey get a summary e-mailed to you when it is completed
Participate by providing us valid data and we will be able to download a complimentary copy of the summary results upon its completion. In addition, you may be eligible to purchase the full study at a significant discount.
These results will be available in July. To participate, simply click the Participate link below and complete the on-line Compensation Survey.
IT Salaries Impacted in the Downturn
The prospects look grim for IT professionals. A perfect storm driven by the recent world wide economic downturn, company closures, lay-offs, cost cutting, outsourcing, and retirees who have had to return to the job market because of the lost value of their investment portfolios have created a surplus of IT talent. The CEO of Janco Associates, Victor Janulaitis said, "The job market for IT professionals is one of the worst that I have seen since the late 1970's. There is a surplus of IT talent and companies are in a cost cutting mode. The dot com bubble was a cake walk compared to this job market."
The January 2009 IT salary survey reflects the market conditions of today and a summary of Janco's findings are:
- Overall compensation for IT professionals is down for the first time since the dot-com bubble
- Hiring demand is the lowest that we have seen it in the 15 plus years that we have conducted this study
- Companies are reducing the number of IT contractors that they using
- Fringe benefits are being reduced by companies
- Supply of IT professionals is at a very high level due to lay-offs, deferred retirements, and individuals trying to re-enter the IT job market because they can not find other jobs or have found they can not stay retired with the decrease in value of their retirement accounts.
