A recent report from the U.S. Bureau of Labor Statistics (BLS) reveals that an information technology (IT) master’s degree is now more valuable than ever.
Economist Richard Henderson, author of the Employment Outlook 2010–2020 for the BLS, writes that the computer systems design and related service industry expects to add 671,300 jobs to reach an employment level of 2.1 million by 2020. An estimated 58,000 of those jobs will be for IT managers.
As an industry grows, so does the need for managers in that industry. Katie Barado, lead economist for employment data company Payscale, told IT World that when you combine management needs with a growing industry, prospective workers can expect top pay and job opportunities in the field.
Payscale’s data demonstrates that nationally, the average salary for IT managers is $86,217 compared to a salary of $63,234 for a network engineer. The highest salary for this position recorded in the Payscale survey is $126,051.
Data posted on the Kellogg School of Management website supports this premise. Kellogg graduates who enter the IT field earn an average of $120,000 annually. Kellogg offers MBA and doctoral programs and is known for preparing graduates for careers in management.
An IT master’s degree plus several years of experience in an IT setting sets the stage for promotion to management for information technology workers.
Demand for skilled workers throughout the IT industry remains high. According to a report on CIO.com, a leading information provider for chief information officers, experts agree that there is a shortage of talented IT workers, particularly those with advanced skills.
The Bureau of Labor Statistics states that information technology managers must have a bachelor’s degree, but many companies now require a master’s degree or an MBA in addition to an undergraduate computer science or related technology degree. Information technology managers must have strong analytical, leadership, organizational and decision-making skills.
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