2020 IT Asset Mgmt. Salary: Discover How Much You Can Earn!
If you're interested in becoming an IT asset management (ITAM) professional, you may be wondering what your salary might look like. This article provides an overview of the average IT asset management salary in 2021, highlighting the various factors influencing salary levels and offering advice on how to successfully negotiate a salary for an ITAM position. Read on to gain a better understanding of the ITAM salary landscape and the strategies to help you get the salary you deserve.
Table of Contents
- Introduction
- Factors Influencing Average IT Asset Management Salary
- IT Asset Management Job Outlook
- Average Salaries of IT Asset Managers in Different Industries
- IT Professionals Salaries in Various Regions
- Negotiating Salary for IT Asset Managers
- Career Progression for IT Asset Management Professionals
- Conclusion
- Introduction
In the technology-driven world of today, IT asset management is a crucial field to become a part of to ensure the smooth operation of all computer systems. As an IT asset manager, you are responsible for managing inventory, updates, maintenance, purchases, and disposal of IT assets for any organization. This kind of job is highly sought after across many industries, as a well-managed IT asset team can have an enormous impact on the success of the organization.
Being an IT asset manager requires knowledge of computing hardware, operating systems, and core management principles, as well as a broad understanding of network and system security principles. With all of these skills, IT asset managers can help an organization avoid accidental or deliberate misuse of its IT assets and provide the best possible protection against cyber threats.
Due to the invaluable skills and expertise required for the job, IT asset managers are generally compensated well. In this article, we will take a closer look at the average IT asset manager salary in 2021. We will discuss the factors influencing the salary of IT asset managers, job outlook, industry-specific salary ranges, and how to negotiate salary for this position. Finally, we will review the career progression for IT asset management professionals.
- Factors Influencing Average IT Asset Management Salary
If you are considering a career as an IT asset manager, one of the questions you likely have is what your potential salary could be. The average IT asset management salary (also known as an IT asset manager salary) varies depending on a few factors. To give you a better idea of what kind of salary you can expect, let's look at some of the main factors that influence an IT asset manager salary.
Experience and Education: The amount of experience and education you have will have the greatest impact on your earning potential as an IT asset manager. Those with at least 5 years of experience in the field, as well as a degree in Information Systems or a related field, typically earn the highest salaries.
Location: Where you live can have a big impact on your earning potential as well. For instance, IT asset managers in large cities tend to make more money on average than those in more rural areas.
Industry: The industry you work in can also have a big impact on your salary. Industries like banking, software development, and IT solutions tend to pay higher salaries than more traditional sectors like manufacturing and retail.
Specialization: Your specialty or area of expertise can also influence your salary. If you specialize in a particular area, such as data analytics, cloud computing, or information security, you may be able to command higher salaries.
These are just some of the factors that can influence an IT asset management salary. The salary you can expect will also depend on your employer, job market, and level of experience. Learn more about the factors that can impact your career and salary as an IT asset manager in the sections below.
- IT Asset Management Job Outlook
If you are considering a career path in IT asset management, one of the first things to consider is the job outlook. Professionals in this field are in high demand due to the ever-increasing need for data management. With the digital transformation of organizations, companies are relying on these professionals more than ever to ensure proper management of their assets and data. In this article, we will delve deeper into the IT asset management job outlook and cover everything from job outlook, salary, and career progression.
The IT asset management job outlook is quite robust. There is increasing demand for skilled IT asset managers and the industry is continuing to grow at a steady pace. This can be attributed to the increased data security and privacy concerns organizations are facing. With cloud-based services, internet of things (IoT) and automation becoming more common in various industries, the need for IT asset managers to properly manage these services has become essential.
A major driving factor for the IT asset management industry is the increasing reliance on data and technology among businesses. Companies need secure and efficient ways to manage their assets and data, and as a result, IT asset managers are in high demand. This demand isn’t expected to decrease any time soon, as businesses will continue to put a greater emphasis on their digital infrastructure and the efficient management of their assets.
As an IT asset manager, you will likely find yourself in a secure and stable job with plenty of career opportunities. With the increase of cloud technologies and IoT solutions, IT asset managers have plenty of opportunities to grow their careers. The job outlook for IT asset management professionals looks very bright, and it’s an excellent career choice for those interested in data security, IT infrastructure, and asset management.
- Average Salaries of IT Asset Managers in Different Industries
As an IT asset manager, your salary will largely depend on the specific industry you work in. Different industries will command for different levels of expertise and compensation packages, and this is true across various experience levels.
To give you an insight into the average salaries of IT asset managers in different industries, we’ve compiled a list of the average wages across various sectors.
• Retail: With an annually salary of $57,000, retail asset managers tend to be salaried at a slightly lower rate than other industries. However, depending on company size and industry experience, salaries can reach up to $86,000.
• Healthcare: Healthcare asset managers can expect salaries between $45,000 and $90,000, depending on the size of the organization you work for and your previous experience.
• Manufacturing: This is a highly compensated industry for IT asset managers, with salaries ranging from a low of $72,000 to a high of $103,000 a year, depending on experience and company size.
• Financial Services: Many IT asset management jobs in the financial sector will pay between $75,000 and $120,000 a year to those with experience and the right qualifications.
• Higher Education: If you work in the higher education industry as an IT asset manager, your salary might range from $63,000 to $95,000 a year.
• Government: Asset managers in the government sector tend to have salaries ranging from $66,000 to $100,000 a year.
• Telecommunications: Professionals working in the telecommunications sector may receive salaries of up to $115,000 a year, depending on their qualifications and experience.
As you can see, the industry you work in will greatly influence your salary. It is important to research salary ranges for roles relevant to your industry as a way of gauging what to expect and in order to negotiate an appropriate financial package.
- IT Professionals Salaries in Various Regions
As an IT asset management professional, understanding the going salary rate in different parts of the world can be crucial in determining the value of your service. From North America to Africa and other parts of Asia, understanding the average salary levels for similar jobs can help you pursue better opportunities.
As discussed in the introduction, regions such as North America, Europe, the Middle East, Asia Pacific, Africa, and South America all have different salary ranges for IT asset managers. Let's take a look at the average salary for an IT asset manager by region.
North America: On average, an IT asset manager in North America can earn between $80,000 to $100,000 per year. This varies depending on the size of the company and its associated costs, as well as the complexity of the role and the experience of the individual.
Europe: European countries usually have lower salaries for IT asset managers, with the average salary falling between $60,000 and $80,000 per year. This can vary significantly between countries within Europe, with higher salaries typically observed in the UK and other parts of Northern Europe.
The Middle East: IT asset managers in the Middle East can expect to make $50,000 to $70,000 annually on average. This number can vary significantly from country to country, as each country within the Middle East has different job roles and salary settings.
Asia Pacific: The average salary for an IT asset manager across the Asia Pacific ranges from $45,000 to $70,000. This can vary significantly from country to country, with higher salaries seen in countries such as Singapore, Japan and India.
Africa: IT asset managers in Africa generally make around $40,000 to $60,000 per year, although this can vary significantly based on the country and the complexity of the role.
South America: On average, an IT asset manager in South America can make between $40,000 and $60,000 per year. This is significantly lower than the salaries earned in more developed regions, but this is due to the lack of technology infrastructure and development in the region.
Now that you have the average salary range for IT asset managers in various regions of the world, it's time to take a look at other important factors that determine a professional's salary.
- Negotiating Salary for IT Asset Managers
Negotiating a salary for an IT asset manager can be a daunting process, but it’s crucial for maximizing your earning potential. As an IT asset manager, you bring a valuable skillset to the table. Having a comprehensive understanding in both IT and asset management puts you in high-demand by employers, affording you the opportunity to increase your salary.
No matter what your current salary level is, it is important to know the market rate for your role so you can confidently negotiate. Do research in your field, investigate metrics like experience level, qualifications and certifications, and the type of company you are applying to. Understand that having an understanding of the company’s needs and capabilities will be essential for determining the value of your role.
When negotiating salary as an IT asset manager, it is important to make sure you are being compensated for the time and effort you are putting into your work. Employers may be open to additional benefits such as extended vacation days, flexible working hours, retirement benefits and health insurance. However, it is important to understand what you can expect from the employer before signing any deals and make sure your benefits carry equal value to your salary.
No employer wants to overpay for talent. Before engaging in salary negotiations, assess your core skills and recent experience to determine if the employer’s salary offer is in line with the market rate. Demonstrate your strong market value by referencing research-backed surveys, job descriptions, and any concrete examples of achievements in previous roles.
Keep in mind that employers will bargain and they expect you to do the same. If you feel that you are not being properly compensated and the employer is not willing to offer a more competitive salary, then be prepared to walk away. Ultimately, your skillset is valuable and you deserve to be compensated fairly.
- Career Progression for IT Asset Management Professionals
As a qualified IT asset management professional, you may be wondering about the types of career advancements available to you in this field. IT asset management is an ever-evolving field, so it’s important to stay up to date on the latest trends and skills in order to stay competitive in the market.
Salary increases, promotions, and the chance to work in more senior positions are all attractive opportunities for career growth. In order to take advantage of these opportunities, IT asset management professionals should understand the impact their performance and qualifications can have on their career progression.
Employers typically take into account the years of experience, areas of specialization, and certifications that an employee has when considering them for promotion or higher-paying roles. Therefore, it is important for IT asset management professionals to continue to strengthen their qualifications in order to have the best chance of advancement.
Gaining certifications is one way to make an impact on your career progression. While the number and type of certifications vary depending on your job role, some commonly-sought-after certifications for IT asset management include the Certified Datacenter Professional (CDP) and Certified Information Technology Asset Manager (CITAM).
Having additional skills such as problem solving, effective communication, and leadership can be extremely beneficial in IT asset management, so honing in on these skills may also help IT asset management professionals advance in the field.
Finally, staying abreast on new technologies and trends is also essential for career progression in IT asset management. Becoming familiar with the latest industry trends and keeping up with current technologies can make a big difference in the eyes of employers.
There are numerous paths available for IT asset management professionals to make an impact in their careers, and these paths can be used to increase earning potential and job satisfaction. With the right qualifications and dedication to staying up to date with industry trends, IT asset management professionals can find success in their chosen career path.
- Conclusion
Conclusion
As an IT asset manager, you have an important role to play in the development and management of assets across a wide range of industries. With the right qualifications and experience, you can become a valuable asset to companies, with the potential to become a highly sought-after and well-paid position. In 2021, the average salary of an IT asset manager across the US and Canada is approximately $76,426. This figure could go up to as much as $103,000 depending on the industry you are working in and the region you live in. Negotiating a salary is possible when it comes to IT asset management and you can do this by demonstrating your value and worth to the company. There is also potential to progress further in your role, with most IT asset managers having significant leadership opportunities ahead of them.
Ultimately, becoming an IT asset manager in 2021 can be a rewarding and highly financially beneficial career path. Working hard to develop your skills and experience in the technology sector can quickly lead to a wide range of job opportunities and help secure a lucrative salary.
