2014 it salary survey: insurance research findings © 2014 property of ubm tech; all rights reserved

2014 IT Salary Survey: InsuranceResearch Findings

© 2014 Property of UBM Tech; All Rights Reserved

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The 353 staff- and 296 managerial-level insurance IT pros in our survey saw modest bumps in compensation. While over three-quarters of both staffers and managers got raises within the past 12 months, just 23% of staff and 31% of management report increases of 5% or more. Other data points:

>> 90% of managers and 78% of staffers expect to receive bonuses in 2014.

>> 62% of staff attended company-paid training in the past 12 months; 61% of managers say the same.

>> 32% of managers hold an MBA or other master’s degree (31%) or PhD (1%).

>> 21% of managers seeking new jobs say they want less stress.

>> 9% of both staffers and managers feel insecure in their jobs.

Respondent breakdown: 41% work for insurance firms with 5,000 or more employees; 25% have over 20,000.

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Executive Summary

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Median salary: Insurance IT staff vs. managers


Median compensation: Insurance IT staff vs. managers


Base salary changes: Insurance IT staff vs. managers


Compensation changes: Insurance IT staff vs. managers


No gender gap in staff salaries?


Compensation: Male vs. female


Salary based on company revenue


Base salary increases through middle age


Bonuses are the norm


Performance drives bonuses


Non-IT experience: Staff vs. management


About ¼ have worked in marketing or sales


Non-IT responsibilities: Staff vs. management


Staff non-IT duties


Management non-IT duties


Key skills: Staff vs. management


Highest staff salaries: Northeast, Pacific


Regional salary changes: Staff


Highest management salaries: Northeast, Pacific


Regional salary changes: Management


Perks: 401(k) match, health insurance


Wanted: tech-specific training


Most get company-paid training


Management pay more for training


Staff: Base pay is most important


Management: Stability, challenge are most important


Priorities: Staff vs. management


20 years in IT


8 years at present company


Loyalty: About ¼ change companies


Compensation satisfaction: Staff vs. management


Total compensation satisfaction over time: Staff


Total compensation satisfaction over time: Management


Overall job satisfaction: Staff vs. management


Job satisfaction over time: Staff


Job satisfaction over time: Management


Management: more challenging


Job security: Staff vs. management


Job security over time: Staff


Job security over time: Management


IT as a career: Staff vs. management


IT career path trend: Staff


IT career path trend: Management


Job security: Staff vs. management


Biggest event in last year: Raises


Most employers outsource some IT jobs


Outsourcing hits job availability, morale


Outsourcing affects few personally


Most aren’t looking for a new job


Those looking cite more money


Job satisfaction is important


Highest degrees


Mostly male


Management trends older


Most have revenue over $100 million


A quarter have more than 20,000 employees


Research SynopsisSurvey Name InformationWeek 2014 US IT Salary Survey: Insurance

Survey Date February 2014

Region United States

Number of Respondents 649 insurance IT professionals, consisting of 353 staff and 296 managers

Purpose To track IT salary and compensation trends from the perspective of those people 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 specifically on the 649 insurance 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, we sent email invitations with an embedded link to the survey 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 649 insurance IT professionals. We excluded unemployed and part-time workers from these results, as well as respondents from outside the US. 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.

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2014 it salary survey: insurance research findings © 2014 property of ubm tech; all rights reserved

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