Contact Information: Contact: Margaret Plett Illinois Technology Association 312.924.1044 mplett@illinoistech.org
Illinois Technology Association Releases Results From Fourth Annual Salary Survey
Comprehensive Compensation Benchmarks Show Strong Salary Results in Technology Companies Across Illinois Even With Economic Downturn
| Source: Illinois Technology Association (ITA)
CHICAGO, IL--(Marketwire - December 15, 2009) - The Illinois Technology Association (ITA) today
announced the results of its 2009 Salary Survey, an annual study that
provides decision makers at Illinois-based technology companies with
relevant, recent and useful data for making compensation decisions in the
upcoming year. This year's survey drew 274, and 120 completed surveys,
respondents representing the broad range of companies in the Illinois
technology community.
ITA's Salary Survey is the most representative and extensive report
available for companies and positions in technology fields in Illinois. It
covers 37 separate positions, which are common to many Illinois-based
technology companies, and ranges all of the way from CEO to entry-level
software developers.
Survey highlights include:
-- A healthy technology community with strong compensation growth
The 2009 Salary Survey projected a good salary environment for both new and
existing technology companies in 2010, especially considering the hit the
economy has taken. No company reported expecting salary levels to fall in
the coming fiscal year. But, nearly half (46%) of respondents expect their
management salaries to remain constant -- 0% increase. Staff salaries are
expected to be very slightly better -- only 31% expect no growth at all.
-- CEOs lead the pack in total compensation
The median salary for a CEO of an Illinois-based technology company
increased to $200,000 from $182,500 in 2008. Median non-cash compensation
increased to $77,500 from $62,500. The 2009 CEO compensation was much
higher: $350,428 in total compensation -- $205,031 in salary and $145,407
in non-cash compensation. The position with the second-highest total
compensation within the executive ranks is the CFO, whose median salary was
more than $160,000 ($180,000 average). CIO median salaries are
significantly higher than in the 2008 sample -- $150,000 -- with the
average at $167,913.
-- Sales executives are paid handsomely for their efforts
The survey results show that the typical Vice President of Sales took home
a median salary of $150,000 last year ($149,137 average) and $94,855 in
non-cash compensation. Directors of Sales were not too far behind at an
average $110,053 in salary and $76,653 in NCC.
"The technology industry in Illinois continues its show of strength even in
these difficult economic times," said Fred Hoch, president of the ITA.
"With the ITA Industry Outlook, Benefits Survey, and this comprehensive,
annual Salary Survey, the ITA provides the state's technology companies
with accurate benchmarks for strong decision making. Specifically, this
annual Salary Survey enables our burgeoning technology community to attract
the industry's finest talent, by offering competitive salary and
non-cash-compensation benefits."
The 2009 Salary Survey was developed and executed by the ITA Strategic
Intelligence committee and was administered between October 26, 2009 and
November 16, 2009. Historical data covers the 2009 fiscal year.
Two ITA members with special expertise in strategic intelligence should be
recognized for their contributions to this year's report. SPSS Inc. provided a fully-hosted data
collection and survey reporting environment to conduct this research. Rulester provided data handling
expertise and analysis.
To obtain an executive summary of the survey results, visit:
https://www.illinoistech.org/pages.aspx/79
About the Illinois Technology Association
The Illinois Technology Association (ITA) represents the interests of a
diverse membership of more than 650 companies in Illinois that create,
deploy and utilize information technology as a core part of their
organization. By connecting members with industry peers and participants,
providing the latest strategic information, market research and critical
market insight and by promoting key thought leaders to raise visibility and
gain a greater market awareness and presence, ITA is focused on building
and developing the Illinois technology community through collaboration.
Additional information is available at www.illinoistech.org.