University Degree's impact on IT Pro's salary
Do IT Pros need to have a bachelor's degree in order tto be paid competitively?
Median salaries for IT Professionals are edging closer to $100K according to the latest data that we have reviewed. That is putting stress on CIOs and HR recruiters as they start to hire staff in the post-pandemic era.
High-tech industries matter to the U.S. economy because they produce a large share of total output, and from a workforce standpoint, they employ large numbers of skilled workers and provide higher wages for all types of workers. There are various ways that high-tech industries can be defined, and those definitions can have an impact on analyses. In an article, the BLS defined high-tech industries as those having high concentrations of workers in STEM (Science, Technology, Engineering, and Mathematics) occupations.
Janco is in the process of compiling its 2022 IT salary survey. In course of that work and its IT Job Family Classification and Pay Scale System, the firm reviewed its data and that of the BLS. The firm found that both the managerial and professional job families, a degree is a key requirement. At the same time, Janco found that starting salaries are significantly impacted by the education level of employees.
At the C-Level of the IT function (CIO, CSO, CTO, Data Scientist, and CDO) may organizations include the requirement that potential candidates have an MBA and or PhD in a related discipline.
At lower levels such a security specialist, professional certifications and/or course work at a certified technology school can take the place of an Associate or Bachelor’s degree.
In January, we will release both our 2022 IT Salary Survey and IT Job descriptions for over 320 key positions. Both of these offerings will reflect this.