Projected IT Salary Trends for Minnesota IT Professionals
Our 2014 Salary Survey projects average salary increases of 5.3% for professional IT staff, 4.8% for Managers, and 2% for IT Executives, as compared with our 2013 Salary Survey. The highest salary increases are expected to be in the areas of Data/Database Administration (9.5%), Software Development (8.7%), and Security (7.7%).
National Surveys report that 66% of employers are providing motivators to retain talent, but only 57% of IT professionals feel satisfied with their current salaries, and 65% of IT professionals feel confident they will be able to acquire a new and better position in 2014.
53% of CIOs say they plan to increase their overall IT budget this year. The skills in highest demand for 2014 are in the areas of software development and big data. Additional focus areas are expected to be security, business intelligence and analysis, project management, and application and mobile development.
MN’s unemployment rate of 4.7% is below the national average by 1.9%. The unemployment rate in the tech sector is 3.5% and more jobs are being added in the IT field every month. While this surely contributes to the short supply of IT talent in the Twin Cities, 41% of IT professionals nationwide say they are willing to relocate, and Minnesota is a great choice. The low living costs, great schools, and industry-diversity of the Twin Cities market make it a great place for talented IT professionals.
Our annual salary survey presents data compiled from ESP’s recent placements, as well as national and local research. We monitor and analyze hiring trends, including compensation and benefits in order to best serve you. Check out our 2014 Salary Survey today!