Salaries are up for banking IT staff and managers, according to the 2014 InformationWeek Analytics Salary Survey.
The intense global competition for professionals at all levels with leading-edge analytics and big data capabilities is helping drive improvements in the financial services industry for IT talent, according to the 2014 InformationWeek Analytics Salary Survey.
Overall, the IT hiring and salary picture for the financial services industry is improving, although gains since last year's survey have been slight and not dramatic, according to the more than 1,250 banking and securities IT professionals who participated in the 2014 InformationWeek Analytics Salary Survey. Salaries for banking and investment firm IT staff and managers have risen slightly since 2013. The median base salary for IT staff climbed 1.4% to $98,000, while the median base salary for managers has leveled off at $120,000. Total compensation -- including bonuses and other direct cash payments received during the previous 12 months -- rose for both groups, a 1.9% jump for staff, and a 2.6% rise for managers.
The InformationWeek Analytics research suggests, however, that there's still a gender gap in financial services, as women in both IT staff and management positions continue to be paid less. Their base salaries, bonuses and total compensation levels have risen, but are still not on par with their male counterparts.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio
The Business of Going DigitalDigital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.
Join us for a roundup of the top stories on InformationWeek.com for the week of April 24, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week!