Tech Wages Slip in Third Quarter
Philadelphia — Nov. 6
Wages for technology professionals appear to be on a steady decline according to data from the third-quarter Yoh Index of Technology Wages. With more than a 6 percent drop, technology wages are at the lowest level since the beginning of 2006.
“It appears that the demand for technology workers continues to ebb,” said Bill Yoh, president and CEO of Yoh. “We believe we’ll continue to see softening in certain sectors as the state of the economy leads companies to tighten budgets and delay projects.
“Although it’s too early to predict exactly when this wage downturn may end, we expect it will continue through the remainder of 2008. But improvement in the financial markets may create some stability in early 2009. In the meantime, we are seeing some bright spots; wages in health care, telecom and aviation have remained steady despite drops in other areas.”
At its lowest point this quarter, the Yoh Index of Technology Wages dropped 6.21 percent from the same time last year, when indexed to January 2001. Earlier in the quarter, wages increased 1.86 percent compared to 2007 levels, only to decrease as the quarter progressed.
Compiled quarterly by Yoh, one of the world’s largest recruiting services firms 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.:
- Civil Engineer
- Clinical Research Associate
- Firmware/Embedded Engineer
- Java Developer
- Mechanical Engineer
- .Net Developer
- Oracle DBA
- Project Manager
- SAP Consultant (Functional/Technical)