InformationWeek has released its annual salary survey with some interesting results. Most of us are aware that IT Managers and staff have had a few turbulent years in the last decade with the latest recession still fresh in our minds. However, it appears that IT salaries continue to be in the upper tier of job earners with IT Managers earning a median total compensation of $115,000 and staffers making $87,000. Last year Broadvox was considered a small business with just under 100 employees. I can say with certainty that the numbers reported by InformationWeek are higher than our levels of compensation. However, I am not concerned as there are several reasons for this discrepancy. IT personnel pay has been greatly influenced by two relatively new disciplines, content management and analytics, where the management pay median is $131,000 and $130,000 respectively. Staffers do fairly well also with a median pay of $107,000 and $90,000 for the two disciplines. Pay is also influenced by certain industries with securities and investment IT staffers earning a median of $111,000 and Federal staffers earning $98,000.
Perhaps, you are wondering if you should be paying more to retain or acquire talented IT personnel. I would first read page 41 of the study which is probably the best way to gauge whether you are offering or receiving competitive wages. Page 41 covers Salary by Company Revenue. These numbers much more closely reflect the pay levels of companies Broadvox’s size. Management median pay is between $85,000 and $96,000 with staffers in the $70,000 range. This is important to note, because pay is only one component of why people work for a company. Additional considerations include company stability, benefits, work schedule, commute, job challenge and responsibility. I, for one, enjoy getting paid, but I have a passion for marketing and sales. I thoroughly like the team at Broadvox and have found working for Andre Temnorod, our CEO, very fulfilling.
Most of you reading this blog work for a SMB. Most of you would not trade that work experience to work for a large enterprise. Therefore, as you consider what you pay your employees or evaluate what you earn, remember the total work experience is the true measure. That is the great balancing act.