Are IT professionals underpaid?
By Binu Paul, SiliconIndia   |   Thursday, 02 June 2011, 03:55 IST
Printer Print Email Email
Are IT professionals underpaid?
Bangalore: The economy is strengthening and the job market is back to its skyrocketing form, yet the satisfaction level among the IT professionals is declining, the root cause is not always about the money for information technology workers. Although the clouds of recession has not cleared yet, the salaries and benefits in the IT industry are definitely higher this year comparing to the situation in 2010 and it remains to be one of the best paid industries across the globe. According to a 2010 Global Knowledge study which surveyed more than 19,500 technology workers, 88 percent of workers feel satisfied with the competitive salary the industry provides, but 82 percent expect better recognition for work performed, 80 percent seeks increased opportunities to further develop of their skills; 78 percent want solid work-life balancing opportunities; 79 percent look forward for comprehensive benefits; 74 percent demand job security; and 51 percent expect opportunities for promotions. A Computer World salary survey of 2011 revealed the total average compensation including salary and bonus is up 1.4 percent and there is an overall 1.5 percent salary increase and a 0.3 percent increase in bonuses this year. The study also highlighted that there is a significant reduction in budget cuts, hiring freezes, salary cuts or freezes, permanent layoffs, canceled projects or training cuts. However, the respondents did mention their dissatisfaction over the heavy workloads with 66 percent stating that they expect continued workload increases in the next year. The level of job satisfaction has a direct relation to the compensation package and in the new work scenario where the job responsibilities have increased, employees are increasingly growing impatient and unsatisfied over the total compensation. While last year 55 percent opined they were 'very satisfied' or 'satisfied' in this regard, the percentage came down to 50 this year. The survey reveals that more than half (52 percent) feel they are underpaid in view of their roles and responsibilities. As the pressure to increase productivity heaps up and demand to take on new tasks grows, employees consider themselves to be paid well. However, it's a tough task for the HR departments and organizations that certify compensation for professionals to reach at a conclusion to define the salary pattern in light of the various IT job titles, numerous new technical skills and the subject matter expertise.

Digital Supply Chain Transformation – Winning the AI/ML Way