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    IT Job Maket Shrinks by over 44K jobs

    eJobDescription.com website is the HR for Information Technology management

    IT job market shrank by 44,900 jobs in the first two months of 2023

    In the first two months of 2023 465 tech companies let go over 126,057 employees. And 608 tech companies have announced layoffs, affecting 162,541 people (or 2,426 people per day). In 2022, there were 1,535 layoffs at tech companies with 241,176 people let go.

    IT Job Market

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    Medain Salaries for IT Developers

    Compensation for IT Pro and Developers is high

    Salaries for IT Pros in demand continues to move up. Based on our salary survey and models for positions in demand we conclude that developers of all types are in the highest demand at the highest salary levels.

    Median Salaries IT Developers

    Median Salaries IT Pros

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    2023 IT Salary Survey by company size and metro area

    Salaries are up and and CIOs are now hiring more IT Pros

    After failing miserably to keep up with inflation over the past two years, it appears salaries for IT pros are beginning to catch up, according to a new study from Janco Associates.

    In 2021, the mean compensation for all IT pros rose just 2.05%, according to a mid-year salary survey from the business consultancy. In 2021, the median salary for IT pros at large enterprises was $100,022, and $95,681 for those at mid-sized firms.

    In 2022, however, merit increases for IT pros lept to 5.61%, with the median salary for all IT professionals rising from $95,845 to $101,323. The median salary for an IT executive rose to $180,000.

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    CIOs pulling back unfilled job requisitions

    CIOs and CFOs react to softening economy

    Based on BLS data analyzed by Janco over the last 12 months over 200,000 IT jobs remained unfilled due to a lack of qualified individuals. However the number of unfilled jobs trend line is down as the economy softens and CIOs and CFOs look to control costs and eliminate requisitions for positions that cannot be filled.

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    Retention of New Hires is Key in a Tight Labor Market

    IT job market prospects are tied to overall US national employment


    Jiring IT ProsIT skills are very transferable.  The IT job market is tight with over 200,000 open positions due to a lack of qualified candidates.  If a qualified IT pro is not pleased with their existing position, it is not to hard to find another. It no longer is a stigma to change jobs every few years.


    The current 25 to 45 year old IT pros, for the most part, are not tied to a particular company that they plan on working for 20 years or till retirement. Many of them feel it is normal to work for a year or two for a company, get the experience and training they need, and move on to a new company - even into a new industry. Company locality is a thing of the past. That was not the case 10 to 20 years ago.


    Covid only made the problem worse because so many companies went out of business and IT departments were reduced or eliminated via outsourcing. IT pros feel that it happened once to them or their friends and will happen again. Therefore they have to look out for themselves and change jobs when it suits them.


    What companies have to do is give employees a reason to stay. The key is to have  a stable management team from CIO down to supervisor.  The focus has to be on long term team development with a compensation and fringe benefit program that rewards long-term loyalty.  

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    Pay grades mandated by California

    California is not the only state or city to require pay grades

    Just signed into law and required by January 1, 2023. Over 200,000 California companies with 15 or more workers will be required to publicize the salary range on new job postings and give demographic pay reports to a state civil rights agency.

    This salary-range requirement applies both to postings made directly by a business, as well as postings made by a third party.

    "The bill would require an employer with 15 or more employees that engages a third party to announce, post, publish, or otherwise make known a job posting to provide the pay scale to the third party and would require the third party to include the pay scale in the job posting,", according to the new mandate.

    Janco's Job Family Classification & Pay Grade System

    A job family classification system is one that defines how individuals can grow in to higher level positions over time by providing benchmarks and milestones that need to be achieved as they advance over time. This in time, impacts the responsibilities and compensation that is paid in a fair and objective manner.

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    Is Hiring for IT Pros Slowing down

    IT job market growth slows for the 4th month

    The number of IT jobs created has fallen for the 4th month in a row. From a peak of 29,500 in March of this year it now was 8,500 in July.  Added to that some of the major tech companies have reduced their hiring plans.  For example, Apple has eliminated all of it contract recruiters, signaling they do not plan to hire as many IT pros as they had planned.

    IT Hiring Slows

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    Top 10 CIO HR and Staffing Issues

    CIO and IT managers have staffing issues that need to be addressed

    CIO Staffing issues

    The most important aspect of any business is recruiting, selecting, and retaining top people. Research shows those organizations that spend more time recruiting high-caliber people earn 22% higher return to shareholders than their industry peers. However, most employers do a miserable job selecting people. Many companies rely on outdated and ineffective interviewing and hiring techniques. This critical responsibility sometimes gets the least emphasis.

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    February employment picture improves in 31 states

    States with the Lowest Unemployment -- Full Employment States

    State unemployment rates continue to improve. At the start of the shutdown, there were 14 states with unemployment rates of less than 3.5%. For the first time since the start of the pandemic there were 14 full employment states.

    In February the 14 states with unemployment rates 3.0% or less) were - Alabama (3.05); North Dakota (2.9%); Virginia (2.9%); Wisconsin (2.9%); Iowa (2.8%); Minnesota (2.7%); New Hampshire (2.7%); Montana (2.6%); Oklahoma (2.6%); South Dakota (2.6%); Kentucky (2.5%); Illinois (2.3%); Nebraska (2.1%); and Utah (2.1%).

    Full employment states - Februiary 2022

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    Implications of IT job market and employer/employee relationships due to pandemic

    How hard wil it be to retain and hire needed IT Pros

    Questions that many CIOs and HR executives have are what the implications to the pandemic and the current economic outlook for the IT Job Market are. Hiring will remain brisk given there is not a major downturn in the overall economic environment.

    Demand for IT Pros

    The experience of 2020 and 2021 have fundamentally employer/employee relationships. The work-life intersection has new meaning. Working from Home and remote meetings were shown to be effective but at a cost.  A recent Gallup poll found those who prefer remote work now cite reduced commute times and better work-life balance as the key component of the employer/employee relationship and job requirement.

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