“I have continued to build additional revenue for the organization through technology-related initiatives in our developments and homes,” says a vice president of IT at a large homebuilder. “Even so, the glum outlook of the market did not recognize the additional revenue streams in my compensation.”
In fact, despite the windfall across upper IT ranks, only 31 percent of senior managers received an increase in bonus pay this year. Moreover, they were 12 percent less likely to have received a bonus this year than in 2006, the lowest mark in four years. The upshot? Tremendous growth (203 percent) for the minority of tech execs cashing in on incentives; status quo, or worse, for the majority.
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For many, the continuing need to convey the message that IT is a core competence -- vital for attaining competitive advantage -- means an overhaul in mindset, one that requires meeting the business side halfway.
“The most important skills going forward are not technical, but a willingness and ability to understand the business needs and environment,” GlobalSpec’s Wiegman says. “You can’t just be a technology order taker. You have to work with the various lines of business and figure out where, if, and how technical solutions can be used to help achieve goals.”
With that recommendation in mind, senior managers should expect the trend of business literacy for IT to continue. As our survey shows, this year’s crop of top tech managers is 52 percent more likely to hold an M.B.A. than a master’s in computer science, up from 39 percent last year.
Midlevel IT: Accountability pays off
Reversing last year’s trend of less reward for more work, midlevel managers this year found their added responsibility accompanied by more pay. Moreover, they’re drawing notice on par with those higher up the IT chain of command, as opposed to last year, when midlevel managers were 47 percent less likely than senior IT managers to have received a raise commensurate with an increased workload.