It's More Than Just Money

It's More Than Just Money<@VM>Pay for Top Execs*

Quality-of-life issues are becoming more important to retention among federal information technology companies than just simply increasing a worker's pay, according to a survey by the accounting and management consulting company Grant Thornton of Chicago.

The company surveyed 100 government contractors on issues that included compensation, fringe benefits, contract types and business practices. The survey covers company data from 1998.

Of the companies surveyed, 75 percent said they had difficulty filling positions. They also said 12 percent of IT jobs go unfilled. The annual turnover rate is 15 percent. Amid a very tight labor market, the average salary increase was 5.1 percent.

"Instead of salaries, companies are trying to differentiate themselves with fringe benefits and quality-of-life issues," said Calvin Hackeman, a partner and director of Grant Thornton's technology services practice. "A lot of people already make a lot of money, so another $5,000 or $10,000 is not that important."

The survey found more companies are using flexible time, telecommuting and training opportunities as ways to attract and retain employees, he said.

But while pay may be taking lesser importance in the pantheon of federal IT worker priorities, people still make plenty at the top. The survey found that compensation for top executives ranges from $139,690 for companies under $5 million to $448,444 for companies worth more than $100 million. The average salary for the top executive for all companies was $262,478.






















Annual RevenueAverage Salaries
Under $5 million$139,690
$5 million to $10 million$172,231
$10 million to $15 million$175,506
$15 million to $20 million$228,674
$20 million to $30 million$323,218
$30 million to $60 million$383,936
$60 million to $100 million$355,419
More than $100 million$448,444
*The top executives include the president and chief executive

Source: Grant Thornton LLP



Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • Dive into our Contract Award database

    In an exclusive for WT Insider members, we are collecting all of the contract awards we cover into a database that you can sort by contractor, agency, value and other parameters. You can also download it into a spreadsheet. Our databases track awards back to 2013. Read More

  • Navigating the trends and issues of 2016 Nick Wakeman

    In our latest WT Insider Report, we pull together our best advice, insights and reporting on the trends and issues that will shape the market in 2016 and beyond. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

I agree to this site's Privacy Policy.