IT executives losing ground on salary

by Editor 1/9/2009 3:54:00 PM
IT consulting firm Janco has revealed the results of a new salary study. According to the findings of the Utah-based consulting firm, the mean compensation for chief information officers in large companies is down 6.11 percent since last year. The salaries of IT executives in mid-sized businesses have decreased almost 5 percent.

“The job market for IT professionals is one of the worst that I have seen since the late 1970s. There is a surplus of IT talent and companies are in a cost-cutting mode. The dot-com bubble was a cake walk compared to this job market,” Janco Associates chief executive Victor Janulaitis said in a statement.

The IT consulting firm included 231 organizations in the salary study and collected information from filings submitted to the Securities and Exchange Commission.

They also compiled a list of the best paid people working in the information technology sector. Here they are:

  • Larry Kittelberger, senior vice president of technology and operations at Honeywell International Inc., with a salary of nearly $600,000 and total compensation of $6.4 million.
  • Joseph Antonellis, CIO and vice chairman at State Street Corp., with a $669,000 salary and $6.3 million in total compensation.
  • Glen Salow, executive vice president of service delivery and technology at Ameriprise Financial Inc., with a salary of $475,000 and total compensation of just over $6 million.
  • Timothy Shack, who currently is listed on The PNC Financial Services Group Inc.'s Web site as chairman of the company's PNC Global Investment Servicing unit. In a previous SEC filing, Shack was identified as PNC's CIO, with a reported salary of $510,000 and total compensation of nearly $6 million.
  • W. Roy Dunbar, who received a salary of $600,000 and total compensation of $5.2 million as CIO at MasterCard International Inc. Dunbar was named CEO of Network Solutions LLC last January.
  • Bob DeRodes, who received $715,192 in salary and nearly $5.2 million in total compensation before leaving his job as executive vice president and CIO at The Home Depot Inc. last year. DeRodes is now chief technology officer at First Data Corp.
  • Harvey DeMovick, CIO and executive vice president at Coventry Health Care Inc., with a salary of $600,00 and total compensation of nearly $4.7 million.
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