ICT industry not dealing with The Great Resignation but rather, The Great Retirement

Overall compensation for ICT professionals was down this past year, in no small part because the most-experienced workers are leaving the workforce. Three factors that depressed compensation in 2021: 1) inflation was considered transitory until late 2021 and did not show up in last year’s paychecks; 2) overtime and bonus pay reduced sharply from 2020; and 3) more-experienced and higher-paid workers left the workforce, driving down the mean compensation among the workforce as a whole. On the bright side, women represented 9% of participants, which is the highest percentage in the survey’s four years and up from 4% a year ago.

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