Tech Wages Remain Flat in Fourth Quarter
Philadelphia — Feb. 10
After declining in the third quarter to levels not seen since 2006, technology wages remained flat in the final quarter of 2008, according to the latest Yoh Index of Technology Wages.
The final weeks of the fourth quarter showed positive gains in wages, maintained by increases in both health care and telecommunications. The index also saw IT, scientific and aviation wages hold steady, while clinical and engineering wages dropped slightly.
Wages fluctuated throughout the fourth quarter, and at the lowest point, hit a 2.39 percent decrease from the same time last year. At its peak, wages were 2.59 percent higher than the same time last year.
Week 2001 2007 2008 Change from 2007
40 100.18 115.28 115.55 .23%
44 102.11 115.96 113.25 -2.39%
48 103.04 112.81 115.81 2.59%
52 97.71 113.17 114.80 1.42%
"The latest data continues to emphasize uncertainty in the marketplace," said Bill Yoh, President and CEO of Yoh. "Since many businesses have employed layoffs as the primary tactic in this economic rough patch, technology wages have not been impacted as dramatically as we would have expected.
"In this quarter, businesses will begin to respond by increasing layoffs, decreasing raises and yearly bonuses or hiring new employees with lower starting salaries. But we anticipate the impact of these decisions will not be as dramatically reflected in wages until later this year."
Compiled quarterly by Yoh, a recruiting services firm for high-impact technology and professional talent, the Yoh Index of Technology Wages is used by emerging technology and Fortune 500 firms as a guide for determining their quarterly salary scales. Each Yoh Index of Technology Wages report identifies the top job titles in highest demand and provides an index to compare current average wages over the same period last year.
Based on conversations with more than 9,000 hiring managers in more than 15 major metropolitan areas, Yoh has determined the skills most in demand across the U.S. Skills that appeared most frequently nationwide included:
- .net/C+ developer
- Java developer
- Project manager
- SAP consultant (functional/technical)
- Quality assurance
- Oracle (functional/technical)
- Clinical research associate
- Network engineer
- Software engineer