CIOs and IT managers are preparing for the budget planning process for the next calendar year. They are faced with challenges including understanding the strategic direction that C-Level management has for their operations. Questions to ask include:
If we are in a recession, when will it start, how deep will it be, when can we expect a recovery, and what steps will our enterprise take in response to a downturn?
What will the inflation rate be in 2023, will it continue to increase, does it look like the government will be able to control it, what impact will it have on salaries for IT Pros, and how will it impact the strategic direction of the enterprise?
What IT skills and staff will the enterprise need to meet its strategic objectives and how could this be impacted by a recession and inflation?
IT Compensation over 50% of the budget
Salaries for all IT Pros are a key component of the overall IT Budget. Security professionals are among the highest-paid because they are in high demand with C-Level emphasis on protection from cyberattacks including ransomware. The median salary for IT security positions that are in high demand and short supply is $102,727 and the overall salary for IT professions is $97,827 and is going up.
News Flash - In our survey results of existing openings for IT Pros, there is a significant increase in compensation for IT Executive Management.
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