If you’re in the IT field and seeking to advance your career, the stars are aligned and it’s a great time to take it to the next level. In the words of Leon Kappelman, professor at the College of Business at the University of North Texas, “It’s a good time to be a geek!”
IT salaries are increasing, more money is going to IT training and businesses are putting a higher priority on the importance of their IT functions. At the same time, 20 percent of corporate IT leaders surveyed by the Society for Information Management (SIM) reported gut-wrenching talent shortages.
Good News for New Grads
Kappelman noted that he sees entry-level IT specialists starting out at a salary of about $65,000 a year, with signing bonuses adding $4,000 to $5,000 to the deal. He also predicts top talent will have at least two or three offers to choose from.
From recent graduates to seasoned veterans, the IT job outlook is very positive. The U.S. Bureau of Labor Statistics predicts growth of 15 percent between now and 2022, placing the IT field significantly ahead of the average growth rate for all occupations.
IT Becoming a Business Priority
The SIM study noted that CIOs are succeeding in bringing more of a business focus on IT operations. Among the 650 society members surveyed, a majority were the top-ranking IT persons in their organizations. Of these CIOs:
- 54 percent report directly to their CEO.
- 27 percent report to their CFO.
- Only 9 percent report to another business unit executive.
- Only 14 percent report to their COO – continuing a downward trend.
Top areas of IT business investment include analytics, intelligence, customer relation management software, cloud computing and enterprise resource planning applications.
A Positive Job Outlook
The U.S. Bureau of Labor Statistics reports that the median pay for computer and IS managers is $120,950 a year or $58.15 an hour. The lowest 10 percent of professionals in the field earn less than $74,940 while the top 10 percent earn more than $187,200. In the five industries where most of these individuals work, median pay levels are:
- Information: $133,120
- Computer systems design: $128,830
- Finance and insurance: $126,680
- Management of companies and enterprises: $124,260
- Government: $101,690
Demand for IT professionals will continue to grow as companies expand their use of wireless and mobile networks. A rapid increase in demand for software also will boost the need for employees at all levels. Additional contributing factors center on:
- A changing healthcare landscape: The industry as a whole is aggressively implementing IT advances. In general medical and surgical hospitals, employment of IT managers is expected to increase 42 percent in the next eight years.
- Cloud computing: Continued growth may result in a shift of some services from non-computer industries to firms engaged exclusively in systems design and related services. This will happen as companies increasingly outsource services from in-house departments to cloud computer companies.
Are you seeking the next step on your IT career path? Consider working with a professional from Magellan Search & Staffing. We have the networks, opportunities and proven track record to help you succeed. Read our related posts or contact us today.