Funnily enough, I used to work on another IBM lookalike machine marketed by the same UK company, an earlier generation, based loosely on the IBM 360 (well it had mostly the same instruction set). I think it was originally called the RCA Spectra 70 by its US makers, but was called something different over here.
Still plenty of money in IT if you're good. The less 'skilled' end of it (business analysts, project managers, business process, you get the drift, the people who wouldn't know one end of a computer from another) get less money these days but good developers, designers, config managers, dba's, sys admins, etc still command handsome premiums in any sector but mainly in finance and telecoms.
e2a - I'm on about contract rates btw, not perm salaries. you don't need the myth of 'job security' if you're good at your job.