MISCO publishes the Salaries & Benefits Report for ICT Sector

MISCO has just conducted and published its ninth edition of its Salaries & Benefits Report for the ICT sector. The report is  a comprehensive study of twenty-two ICT positions of staff working in and from Malta and covers a total of eight hundred seventy remuneration packages.

Compiled over a period of three months, spanning from January to March 2014, this report provides its end-user with the most complete, up-to-date, reliable and realistic insight of what the ICT sector is paying for its human talent. The report covers ICT companies ranging from full IT service firms, software houses, web development, iGaming organisations, IT departments pertaining to the financial and services sectors as well as other information communication companies.

A number of new positions are also featured for the first time in this year’s report namely Account Executive, IT Network Engineer, Senior IT Technician, Network Technician, Hardware Technician, Web Designer and Graphic Designer.

One of the main findings revealed in this year’s study is an increase in the total remuneration packages of IT Managers, IT Engineers and Database Administrators.

The ICT sector is one of Malta’s fast growing economic pillars. In fact during 2013, the ICT sector has contributed to 5.2% of Malta’s GDP, which is among the highest in Europe. Within this scenario, programming roles remain the leading role in terms of amount of employees required and in consideration of the increased use of the web, the requests for Web Developers has seen a constant increase with the most commonly used languages being HTML5, CSS and JavaScript.

“In today’s intense and competitive environment in the quest for talent, it is vital to understand the significance of remuneration in attracting the right people because no company wants to be represented by employees who are employed just for their salary. Even though salary is a major factor, it is just one of the many in an attractive employee value proposition,” said Joseph F X Zahra, Director of MISCO.

“Our consultants have conducted a great number of one-to-one data collection meetings with company representatives to collect company salary structures as well as other compensation components and we are glad with this in-depth and very interesting report which we are now making available to all those companies operating in this sector,” added Mr Zahra

“Our intention is that this report will encourage fair compensation for individual practitioners while helping businesses remain competitive in their quest for talent. MISCO encourages employers to use this report, along with other resources such as performance appraisals and job evaluations, to provide compensation that reflects the appropriate job value, while keeping in mind the current labour market conditions,” concluded Mr Zahra.

The report also includes an overview of the current ICT sector in relation to future opportunities offered by the sector.

The report outlines how ICT companies are constantly specialising and this is creating more need for specialist skills in several areas such as enterprise resource planning (ERP) consultants and business intelligence (BI) experts. At the moment we have a large supply of generalists but this puts the onus of training on the employer, who might not necessarily have the time and the resources required to provide such training. This is why the provision of top notch ICT professional resources is critical to sustain growth and if local companies cannot find people to employ they will be impacted in a severe manner. Education plays an important role in developing a workforce to support the ICT sector and if courses are more practical, they should help minimise the training periods that organisations would need to go through with new employees.

Placing an emphasis on cloud and web-based technologies is of great importance given their rise in the modern world. Therefore, it is essential for individuals looking to work in this field to invest their time in learning more about these subjects so as to be better equipped for future opportunities.

“In general, Malta should seek to invest in more specialised staff. The country has experience a sizable growth in foreign employees which at the moment amounts to one in every eight employees. Whilst a mixture within the workforce is considered to be beneficial it is also important to plan for the future. Most employers are required to employ foreigners since locals would not have the required specialisation, thus as a country it is important that we equip the future work force with the right skills to sustain the demand which is to come from the ICT sector,” states the report.

Click here to download an Order Form.

Click here to download the Table of Contents.

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