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2014 IT Salary Survey: Banking Research Findings © 2014 Property of UBM Tech; All Rights Reserved
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The majority of the 603 staff- and 651 managerial-level banking and securities IT pros in our survey got a bump in pay this past year. Seventy percent of staffers and 72% of managers got a raise within the past 12 months, with 21% of staff and 33% of management reporting an increase of 5% or more. Other data points: >> 83% of staffers receive 401(k) matches; 22% have stock purchase plans. >> 53% of staff attended company-paid training in the past 12 months; 61% of managers say the same. >> 39% of managers hold an MBA or other master’s degree (36%) or PhD (3%). >> 20% of managers seeking new jobs say they want less stress. > >12% of staffers and 10% of managers feel insecure in their jobs. Respondent breakdown: 49% work for banking and securities firms with 5,000 or more employees; 33% have over 20,000. Want more? Visit InformationWeek ReportsInformationWeek Reports Executive Summary v
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Median salary: Bank IT staff vs. managers © 2014 Property of UBM Tech; All Rights Reserved
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Median compensation: Bank IT staff vs. managers © 2014 Property of UBM Tech; All Rights Reserved
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Base salary changes: Bank IT staff vs. managers © 2014 Property of UBM Tech; All Rights Reserved
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Compensation changes: Bank IT staff vs. managers © 2014 Property of UBM Tech; All Rights Reserved
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Base salary: Male vs. female © 2014 Property of UBM Tech; All Rights Reserved
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Compensation: Male vs. female © 2014 Property of UBM Tech; All Rights Reserved
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Salary based on company revenue © 2014 Property of UBM Tech; All Rights Reserved
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Base salary increases over the years © 2014 Property of UBM Tech; All Rights Reserved
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Bonuses are the norm © 2014 Property of UBM Tech; All Rights Reserved
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Performance drives bonuses © 2014 Property of UBM Tech; All Rights Reserved
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Non-IT experience: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Prior jobs: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Non-IT responsibilities: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Staff non-IT duties © 2014 Property of UBM Tech; All Rights Reserved
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Management non-IT duties © 2014 Property of UBM Tech; All Rights Reserved
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Key skills: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Highest average salary in the northeast © 2014 Property of UBM Tech; All Rights Reserved
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Regional salary changes © 2014 Property of UBM Tech; All Rights Reserved
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Perks: 401(k) match, health insurance © 2014 Property of UBM Tech; All Rights Reserved
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Wanted: tech-specific training © 2014 Property of UBM Tech; All Rights Reserved
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Most get company-paid training © 2014 Property of UBM Tech; All Rights Reserved
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Staff, management pay for training © 2014 Property of UBM Tech; All Rights Reserved
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Staff: Base pay is most important © 2014 Property of UBM Tech; All Rights Reserved
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Management: Base pay is most important © 2014 Property of UBM Tech; All Rights Reserved
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Base pay, stability most valued © 2014 Property of UBM Tech; All Rights Reserved
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18-19 years in IT profession © 2014 Property of UBM Tech; All Rights Reserved
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7 years at present company © 2014 Property of UBM Tech; All Rights Reserved
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Loyalty: Most do not job hop © 2014 Property of UBM Tech; All Rights Reserved
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Total compensation satisfaction: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Total compensation satisfaction over time: Staff © 2014 Property of UBM Tech; All Rights Reserved
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Total compensation satisfaction over time: Management © 2014 Property of UBM Tech; All Rights Reserved
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Overall job satisfaction: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Job satisfaction over time: Staff © 2014 Property of UBM Tech; All Rights Reserved
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Job satisfaction over time: Management © 2014 Property of UBM Tech; All Rights Reserved
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Intellectual challenges: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Job security: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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Job security over the years: Staff © 2014 Property of UBM Tech; All Rights Reserved
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Job security over the years: Management © 2014 Property of UBM Tech; All Rights Reserved
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IT as a career path: Staff vs. management © 2014 Property of UBM Tech; All Rights Reserved
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IT career path trend: Staff © 2014 Property of UBM Tech; All Rights Reserved
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IT career path trend: Management © 2014 Property of UBM Tech; All Rights Reserved
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Security of an IT career vs. others © 2014 Property of UBM Tech; All Rights Reserved
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Biggest event in last year: Raises © 2014 Property of UBM Tech; All Rights Reserved
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Most employers outsource some IT jobs © 2014 Property of UBM Tech; All Rights Reserved
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Outsourcing hits job availability, morale © 2014 Property of UBM Tech; All Rights Reserved
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Outsourcing affects few personally © 2014 Property of UBM Tech; All Rights Reserved
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Most aren’t looking for a new job © 2014 Property of UBM Tech; All Rights Reserved
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Those looking cite more money © 2014 Property of UBM Tech; All Rights Reserved
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Job satisfaction is important © 2014 Property of UBM Tech; All Rights Reserved
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Highest degree: Bachelor’s © 2014 Property of UBM Tech; All Rights Reserved
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Surveyed gender: Men outnumber women © 2014 Property of UBM Tech; All Rights Reserved
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Management trends older © 2014 Property of UBM Tech; All Rights Reserved
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Most have revenue over $100 million © 2014 Property of UBM Tech; All Rights Reserved
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About half have fewer than 5,000 employees © 2014 Property of UBM Tech; All Rights Reserved
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Research Synopsis Survey Name InformationWeek 2014 US IT Salary Survey: Banking and Securities Survey Date February 2014 Region United States Number of Respondents 1,254 banking and securities IT professionals, composed of 603 staff and 651 managers Purpose To track IT salary and compensation trends from the perspective of those on the front lines, InformationWeek conducts an annual US IT Salary Survey. Now in its 17th year, it’s the largest employee-based IT salary survey in the country. This year 11,662 full-time IT professionals completed the web-based survey. The goal of this trendable study is to measure various aspects of compensation, benefits, and job satisfaction. This report focuses on the 1,254 banking and securities IT professionals who participated in the survey. Methodology The survey was designed by InformationWeek and fielded online. The survey was promoted in InformationWeek’s daily and weekly newsletters. In addition, email invitations with an embedded link to the survey were sent to qualified IT professionals from UBM Tech databases. The survey was fielded from November 2013 to February 2014. The information within this report is based on responses from 1,254 banking and securities IT professionals. Unemployed and part-time workers were excluded from these results, as were respondents from outside the United States. This report uses median rather than mean or average figures for salary and percentage salary changes to eliminate distortions caused by extremes at the high and low ends of the responses. Want more? Visit InformationWeek ReportsInformationWeek Reports © 2014 Property of UBM Tech; All Rights Reserved
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