IT compensation had taken a "deflationary, spiraling fall" over the last four quarters, but salaries have stopped their decline since the end of the recent war in Iraq, says Vic Janulaitis, CEO of Janco, which conducted its most recent quarterly survey of 300 companies at the end of March.
"I think this shows that most companies have realized that there aren't any more places to cut," in terms of IT and tech talent, Janulaitis says. The end of the war in Iraq, as well as positive corporate outlooks regarding tax cuts, seems to be fueling a bit of new confidence for IT investments, particularly in E-business, object programming, security, and voice and wireless technologies, he says.
CIO pay--which had been falling since 2001--has leveled off at about 1998 rates, with mean salaries of about $375,000. Mean salaries for all IT positions in large companies increased to $80,030 in the second quarter of 2003, up from $78,687 in the last quarter of 2002.
Still, despite that good news, Janulaitis sees some soft spots, particularly in IT training and infrastructure. "If you have jobs in those areas, I wouldn't try looking for new ones right now," he says.
Janulaitis says "as long as there aren't any terrorist attacks or other negative events," he's hopeful that the positive signs seen in the company's quarterly survey indicate the beginnings of an overall upward trend.