There’s been no immunity for IT in the current economic downturn. The folks who make technology work for the rest of us have seen their pay stagnate and their workload increase just like everyone else.

And thanks to the folks over at Computerworld, you can get a picture of just how bad things really are. They’ve just released their 2009 IT Salary Review, and the picture’s not a pretty one.

The results: After polling 5,861 IT professionals, Computerworld found that the earnings for IT workers are flat. Bonuses are down and benefits have been slashed or cut out altogether.

What’s gone up? Well, the number of canceled projects soared to 35% (up from 25% a year ago).

Training also took a hit –  37% vs. 25% say it’s been reduced or eliminated. A whopping 65% of respondents reported budget cuts; 51% have frozen salaries and 48% have stopped hiring.

The worst of the bad news:  44% of respondents have had permanent layoffs at their companies. Only 28% eliminated positions in 2008.

All this has resulted in more dissatisfaction and stress, and less job security and take home pay.

Most respondents are working more hours, because departing staff aren’t replaced, and they’re making less money.

What’s an IT pro to do? Well, it seems that nearly half of those surveyed (47%) are looking for a new job. As the recovery gains more traction, it’s likely that many will be ready to jump the ship they rode through the economic storm.

Nobody wants to hang around a place that reminds them daily of stress, overwork and poor compensation. And small incremental raises aren’t likely to get most workers back to even.

To read a full analysis of the survey, visit here.

Tags: ComputerWorld, IT, review, salary