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Hiring of IT Pros exploding
eJobDescription.com website is the HR for Information Technology management
Monthly Job Market Growth at Record Levels
An average of 13,000 IT jobs have been added to the IT job market each month of 2021. This number could be greater, but CIOs are having difficulty finding enough candidates who are qualified for positions that they need to fill.
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CSO Compensation up 42% in last 5 years
CISO - Chief Information Security Officers Salaries Now Exceed That of CIOs
With the increased focus of Internet based solutions and the increase in the amount of sensitive data that is outwardly facing, the role of security professionals has increased in importance. Qualified Chief Security Officer (CSO or CISO) are in the highest demand and command salaries in excess of $150,000 per year. When incentives and performance bonuses are added, total compensation is well into the $225K range.
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Pay Grades for System Analysts defined
Pay grades for System Analyst job classes released
The pay grades for the system analyst have been released by Janco. Several subscribers to Janco's IT salary survey asked for this data to assist them in their recruiting process. The System Analyst job class has five unique job descriptions. The pay grades that were set are for the System Analyst I, II, III, IV, and V which fall within the Professional Job Family of the IT Job Family Classification & Pay Grade System.
The chart below is at the macro level and is current for a Midwestern distribution organization with revenuses of $234 million. Based on industry and location these salary ranges are different.
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System Analyst Job Class with Job Descriptions released by Janco
System Analyst Framework for Setting Pay grades
Many organizations do not have a robust methodology for setting pay grades for high in demand positions. The IT Job Family Classification & Pay Grade System is shortcut created by Janco which has worked for many organizations.
The first step is have a structure which provides a framework that is easy to implement. For example, one job family defined in the IT Job Family Classification and Pay Grade System, the IT System Technology Professional Family. With that in place the creation of pay grades to include the System Analyst Class is straight forward.
The effort to set pay grades is not as daunting as it would seem. For example, this process was completed in less than 4 weeks with these tools for 121 person IT function. This is one tool kit that every HR group should look at implementing.
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High Unemployment States
High Unemployment States
Highest unemployment states are those that had an overall unemployment rate of 8% or higher. In May 2021, 5 states had the highest unemployment rates (8.0% or higher) - an improvement fom April 2021. The highest unemployment rates in March were Hawaii - 8.5% from 9.1%; New Mexico - 8.0% from 8.1%; California - 7.9% from 8.0%; Nevada - 7.8% from 8.0%; and New York - 7.8% from 8.2%. Also, all 5 of these states had lower unemployment rates than in April.
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IT Executives in large organizations get greatest increases in compensation
Compensation jumps for c-level IT executives in large organizations
The Mid-Year 2021 IT Salary Survey shows overall compensation for executive in large organizations has increased by 3.16%. At the same time, compensation for all IT professionals has only increased by 1.08%.
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IT job market expanding for now
All of the IT jobs lost due to Covid-19 have been recovered
We see hiring in the IT job market spiking up for the next two quarters. We do have some concerns about the overall job market in the first two quarters of 2022. Two factors in employment are the inflation rate and how business will react to any spending and tax programs. That along with the move away from energy independence and increase in international political uncertainty may have a material dampening effect on IT job market expansion.
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IT Job Market Shakes off Covid Losses
All the jobs lost during Covid are recovered
The IT job market has recovered from the 100K plus jobs lost when Covid struck There now are over 3.655 million jobs for IT pros in he US.
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Employment picture improves in most states
States with the Lowest Unemployment -- Full Employment States
Several states have lowered their unemployment rates. At the start of the shutdown there were 14 states with unemployment rates less than 4.5%. In March there were 17 states with rates below 4.5%, 10 states with rates lower than 4.0% and 6 states at full employment (rates lower than 3.5%).
All of the low employment rate states with low unemployment numbers saw a reduction in the unemployment rate except for one (Iowa) which had the same unemployment rate as in the prior month.
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High Unemployment States
7 States have unemployment rates 8% or greater
Highest unemployment states are those that had an overall unemployment rate of 8% or higher. In January 8 states had the highest unemployment rates (8.0% or higher) - an improvement from August which had 10 states with unemployment over 10%. The highest unemployment rates in January were Hawaii - 10.1%); California - 9.0%; New York - 8.8%; New Mexico - 8.6%; District of Columbia - 8.4%; Connecticut - 8.1%; and Nevada - 8.1%. In those 8 states, only 1 (Bew Mexico) had a higher unemployment rate than the prior month.
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