Benefits January 3, 2006

IT Professionals Enjoy Good Benefit Offerings

January 3, 2006 (PLANSPONSOR.com) - Janco Associates, Inc., in its January 2006 Salary Survey, found that 93% of IT professionals have some form of company paid health insurance.
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According to a news release, just over seven in 10 (71%) of respondents participated in their employers 401(k) retirement plan.

“There are a core set of benefits that are required by enterprises of all sizes to attract and retain IT professionals. Even firms that provide IT professionals on a contracting basis need to and do provide these benefits. …with the rise in heath care insurance costs employees of all firms are required to share more of the cost and elimination of health insurance is not an option.” Janco CEO Victor Janulaitis said in a news release.

Other benefits IT professionals enjoy, according to preliminary survey results, include:

  • Life insurance – 78%
  • Disability insurance (beyond mandated requirements) – 58%
  • Flexible hours and/or schedule – 56%
  • Personal performance bonus – 54%
  • Trips for planning and training – 50%

The company also said that its salary survey showed that enterprise based performance bonuses were limited to executive IT management with only 38% qualifying. Stock options, formerly a “must have” benefit, now are only available to 29% of the IT professionals.

The IT Salary Survey is based on Janco Associates, Inc. IT professionals compensation database and is published semi-annually. Full survey results can be ordered here .

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