Released on: September 15, 2008, 3:43 pm

Press Release Author: Victor Janulaitis

Industry: Small Business

Press Release Summary: Janco has confirmed that there will be over 400 high paid IT
executives that will out of work by the end of this year.


Press Release Body: FOR IMMEDIATE RELEASE

Lehman Brothers and Merrill Lynch to Glut IT Job Market According to Janco

In exclusive interviews with highly placed sources within Lehman Brothers' and
Merrill Lynch, Janco has confirmed that a large number of IT professionals in both
organizations will lose their jobs before the end of the year.

By Janco's estimates there are over 230 IT professionals at Lehman Brothers' who
make $250,000 or more a year. Many of those jobs will go away. Add to that the 180
plus IT professionals at Merrill Lynch making over $250,000 a year and there will be
a glut of top IT professionals that will be on the street by the end of the year.

The CEO of Janco, Victor Janulaitis said,"High paying jobs within the IT function
are targeted first when companies go bankrupt or are acquired. High paying middle
layer jobs are viewed as sources of immediate cost savings."

In Janco's June 2008 IT Salary Survey found the IT compensation was up slightly for
most positions in the Information Technology function. Victor Janulaitis said,
"Hiring was up across the nation as companies begin to focus on business expansion
with an cautious eye towards the economy. However with the recent events that
outlook has changed drastically."

The summary findings in Janco 2008 IT Salary Survey were:

1. The mean compensation (which includes bonuses) for all executive IT positions
surveyed now is $143,847 in large enterprises and $128,730 in mid-sized enterprises.
(Large enterprises have over $500 million in revenue and mid-sized have are $100 to
$499 million in revenue).

2. Hiring demand has increased for executives (especially in mid-sized enterprises).
In the last twelve (12) months the greatest increases in compensation were at the
executive levels of large enterprises.

3. CSOs (Chief Security Officers) executives are in high demand in large as well as
line IT executive management in enterprises of all sizes.

4. The mean compensation for Chief Information Officers (CIOs) in mid-size
enterprises has decreased with a significant increase in demand. This typically
means that enterprises feel their existing CIO are not worth what they are being
paid and they are willing to hire new CIOs at significantly higher levels of
compensation that will be worth the additional cost.

5. The positions in the highest demand are at the executive levels of mid-size
enterprises with the focus continuing to be line operations and mandated security
requirements such as Sarbanes-Oxley, HIPAA and PCI.

6. Mid-sized enterprises are searching for Network Control Analysts, Systems
Programmers, Production Control Analysts, Change Control Analysts, and Web Analysts.

7. In mid-sized enterprises the mean total compensation has moved risen slightly
from $75,076 to $75,362. At the same time in large enterprises the median
compensation has also moved up from $80,078 to $81,631.

8. Baby boomers’ are now starting to retire.

9. The new target top compensation CIOs now is over $2,000,000 a year (data source
SEC filings of public corporations) continues to increase.

A free summary of the IT salary survey can be found on the Janco web site
http://www.e-janco.com.

Janco is Mountain States based consulting firm that publishes the HandiGuide® series
of book used by IT, HR and other professionals as the source of information on
topics from PC Polices to job positions and responsibilities. In addition to its
electronic book and survey publishing, Janco also publishes award winning business
software.

Media Manager
http://www.e-janco.com
435 940-9300 x 101
Park City, UT

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Web Site: http://www.e-janco.com

Contact Details: Media Manager
http://www.e-janco.com
435 940-9300 x 101
Park City, UT