Each year, the demand for skilled information management technology professionals grows.
According to a survey by Robert Half Technology, 63% of chief information officers surveyed in 2017 have a hard time finding skilled information management professionals today.
With a degree in information management, you will be highly qualified for many top paying technology careers & jobs for the information management field.
A big factor, of course, in deciding whether to earn an information management degree is what your salary will be. Below are the major factors that influence your salary in the growing, popular field of information management:
- Level of degree
- Type of career
- Years of work experience
- Geographic location
- Industry and type of company
Once you have analyzed this information, you will have a better idea what your salary could be with an information management degree.
Level of Information Management Degree
Generally, information management and other types of technology professionals will see a higher salary level with a master’s degree. This statement is shown to be the case in recent Bureau of Labor Statistic (BLS) data regarding salaries for master’s degrees vs. bachelor’s degrees. BLS data shows that many occupations in the science, technology, engineering and mathematics fields have higher salaries with advanced degrees.
Consider this data:
- Mathematicians and statisticians: Earn $60,000 with a bachelor’s and $80,000 with a master’s
- Network and computer systems administrators: Earn $70,000 with a bachelor’s and $88,000 with a masters
- Web developers: Earn $61,000 with a bachelor’s and $75,000 with a master’s
- Material scientists: $60,000 with a bachelors and $71,000 with a master’s
- Information security analysts: $85,000 with a bachelor’s and $100,000 with a master’s
According to Payscale.com, the salary for an information technology manager ranges from $50,800 to $128,700 per year, with the level of a degree a major factor in this range.
Types of Information Management Careers
Earning a bachelor’s or master’s degree in information management will affect your career. But so will the exact job title of your profession. BLS and other sources provide detailed information about the salary you can expect in various technology positions related to information management:
Computer and Information Systems Manager
This information and technology management professional is responsible for the planning, coordination, and directing of computer related activities in a company. They are in charge of determining what the information technology goals are for a company and are responsible for installing and initiating the computer information systems that are needed to meet company goals.
The Bureau of Labor Statistics or BLS reports the median annual salary for computer and information systems managers is $139,000, and the top 10% earn more than $200,000 per year. Computer and information systems managers make these median salaries by industry:
- Information management: $153,000
- Computer systems design and related services: $146,500
- Finance and insurance: $146,300
- Manufacturing: $141,000
- Management of companies and enterprises: $140,900
Network and Computer Systems Administrator
Network and computer systems administrators are in charge of the day to day operations of computer networks for all types of organizations. They are responsible for organizing, installing and supporting the computer systems for an organization. These administrators are also responsible for the proper management of a company’s servers, as well as desktop and mobile equipment.
Network and computer systems administrators make a median salary of $81,100, with the top 10% earning more than $130,000 per year. They also earn the following median salaries by industry:
- Information management: $87,900
- Finance and insurance: $87,400
- Computer systems design and related services: $86,200
- Management of companies and enterprises: $84,800
- Educational services: $70,000
Information Security Analyst
Information security analysts are responsible for the planning and carrying out of security measures to protect a company’s networks and systems from attack. Information security analysts are responsible for the disaster recovery plan for a company after a cyber attack or other type of emergency. The recovery plan may include the regular copying and transferring of vital data to a secure, off site location.
The median salary for information security analysts was $95,500 as of May 2017, according to the Bureau of Labor Statistics. The top 10% earned more than $153,000 per year. The median salary in various industries was:
- Computer systems design and related services: $98,100
- Finance and insurance: $97,600
- Information: $96,200
- Administrative and support services: $91,500
- Management of companies and enterprises: $90,900
A software developer is the mind that designs a computer program. Some are responsible for developing the applications that allow people to do tasks on a computer or other device. Others are responsible for developing the systems that run the computer device or control a network.
Applications software developers are the developers of computer applications including word processors and games, while systems software developers are responsible for the systems that keep the computer working properly.
The median salary for software developers was $101,900 in May 2017, with the top 10% earning more than $160,000 per year. Salaries for software developers in different industries were:
- Software publishers: $112,200
- Manufacturing: $109,000
- Finance and insurance: $105,100
- Management of companies and enterprises: $100,400
- Computer systems design and related services: $98,400
The job of a professional in data analysis is to retrieve and collect massive amounts of company data and information, organize it into usable formats, and then present it to upper level managers so they can make good business decisions with it. All kinds of industries hire data analysts, including healthcare, electronics, manufacturing and more.
Payscale.com reports the average salary in this field is $57,000, with a high of $82,000.
Years of Work Experience
How many years you have worked in information management also is a big factor in your paycheck. Below are the salaries you can expect as an information management professional by years of experience, according to Payscale.com:
- Less than five years of experience: $59,000
- 5 to 10 years of experience: $76,000
- 10 to 20 years of experience: $91,000
- More than 20 years of experience: $99,000
According to Payscale.com, the average salary for an information management/technology manager is $84,900, but this salary can vary based upon geographic location as follows:
- Minneapolis: +34%
- San Francisco: +33%
- Chicago: +30%
- Washington DC: +30%
- Boston: +21%
- Atlanta: +21%
- Denver: +17%
- New York: +16%
- Houston: +14%
- Austin: +3%
- Seattle: +9%
- Miami: -16%
Industry and Type of Company
The level of salary for information manager professionals can vary a great deal by the industry and the type of company. Some examples of salaries from different companies in Payscale.com for information management professionals are:
- Accenture: $121,000
- Deloitte Consulting: $130,900
- US Air Force: $74,500
- US Army: $76,100
- Capgemini: $116,100
- Amazon: $120,300
- Accenture Technology Solutions: $113,700
- PricewaterhouseCoopers: $111,700
The job outlook for a professional with an information management degree is bright. BLS reports this field will see at least 12% growth through 2026, and related fields may see much faster growth. Plus, the salary for this profession is excellent, and the more experience and technical skills you have, the more money you will make.
- Should I Get a Master’s Degree? (2017). Retrieved from https://www.bls.gov/careeroutlook/2015/article/should-i-get-a-masters-degree.htm
- Computer and Information Systems Managers. (2017). Retrieved from https://www.bls.gov/ooh/management/computer-and-information-systems-managers.htm