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If you're looking for a company who would hire an IT specialist, you shouldn't have to look very hard. That's because everyone is affected by technology, therefore every company is in need of an IT specialist. A lot of people think that only technology companies hire IT consultants, but this simply is not the case. This can be a very financially rewarding industry to get into — specialists with 1-2 years of experience generally earn between $50,000 — $60,000 a year. This could increase to a six-figure salary with experience. Read on as we demystify some of the common myths associated with IT consulting.
As technology continues to automate, accelerate, and connect the global marketplace, the importance of the IT specialist's role cannot be overstated. Never mind that hundreds of dot-coms have vanished or downsized in the last year and a half - information technology continues to remain at the forefront of the U.S. economy. Who hires IT specialists? Everyone - IT crosses almost every public and private sector: major corporations, the Government (particularly the Department of Defense - the largest employer of the IT workforce), small business, non-profits, etc. With roughly 1.6 million IT openings, and only about 40,000 students graduating from technology-related fields each year, one job in every dozen will be vacant this year, according to a recent study by the Information Technology Association of America (ITAA).
But don't expect a return to the boom-time mentality anytime soon. Many IT specialists say the down turn has provided an appreciation for job stability, benefits, and solid retirement plans. Accordingly, despite lower salaries, many IT specialists have turned to yesterday's less-than-glamorous organizations (government, insurance, product distribution, and health care) in this rocky economy.
Life as an IT Consultant:
Though many associate IT with technology companies, businesses in virtually all industries - from nonprofit organizations to investment banks - have an IT staff to remedy everyday computer problems and maintain and upgrade computer systems (in fact, non-technology companies remain the largest employers of IT workers with 9.5 million compared with 900,000 IT workers employed elsewhere). Accordingly, there is no typical "day in the life" of an IT professional. Laid-back, casual work atmospheres and flexible hours are common, but for those accustomed to a more structured, conservative work environment (there are a few out there), corporate giants and law firms hire IT specialists as well. In addition, independent IT consultants are able to strike a unique work/life balance that's difficult to achieve as a full-time employee - a 6-figure income and 8 weeks of vacation a year are possible. However, many independent IT consultants (though certainly not the majority) feel the stress of developing clients and marketing themselves is simply not worth the flexibility.
IT specialists with 1-2 years experience generally earn between $50,000 - $60,000/year (excluding bonuses, profit sharing, etc). As you gain experience, salaries increase gradually, to $100,000+ (again excluding bonuses, etc.). For those of you looking for a little more money, it's certainly available. Chief Technology Officers (CTOs) report an average salary of approximately $140,000 and CTOs with a proven track record can earn as much as $350,000 in base salary at a large company.
Myth
MBAs have no place in IT.
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While the majority of IT positions require no formal education, MBAs with a technical background can serve as translators between those who formulate business strategy and those who implement the technology that drives it. As more money is invested in IT, upper management expects IT staff to know how to maintain strategic planning, capital budgeting, and economic controls. MBAs with a technical background are in a unique position to serve in that capacity. Accordingly, these hybrids have quickly become hot properties.
Myth
The job market for high-level IT executive posts is not going to pick up anytime soon.
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The number of new opportunities for those who want to leave their current posts, or for those who hope to move up into the CTO ranks from lower-level IT management jobs will increase in the very near future. In fact, a May 2002 report from the ITAA projects an aggregate demand for IT workers of 1,148,639 in 2002, of which 578,711 positions are expected to go unfilled due to a lack of qualified workers.
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"There are always vacancies. Organizations are born, organizations expand, workers become restless, quit, change jobs, move, become ill long-term, or become handicapped, retire, or die. There are always jobs out there waiting to be filled. The fact that you can't find those jobs only means the vacancy hasn't been advertised, or you're not using the right method to find it. When the Internet or job-postings, or agencies, or ads, or resumes, don't work, there are other ways of turning up the job you want. So, if you're coming up 'empty,' you need to change the search method you've been using. ... To speed up your search for one of the jobs that are out there, go after many different organizations, instead of just one or two."
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