Tech Pay Hit Quarterly High, Then Dropped Off, Says Report
Average wages fell 88 cents to $31.51 in November, based on data on nearly 5,000 tech professionals contracted out for long- and short-term projects.
After hitting a record high in October, hourly wages for tech workers sputtered in the last months of 2007, according to a new report released on Thursday by IT staffing firm Yoh.
Last October, the average hourly wage for tech workers hit $32.39, the highest average pay figure documented by Yoh since the 2001 inception of its Yoh Index of Technology Wages.
However, in November, average wages fell 88 cents to $31.51 from the high in October, based on data on nearly 5,000 tech professionals contracted out for long- and short-term projects by 75 Yoh field offices. By December, average hourly wages inched up by 10 cents, to $31.61.
"There was still growth in Q4, but not as robust" as the quarter wound down, said Jim Lanzalotto, VP of marketing and strategy for Yoh.
Despite wages cooling off during the fourth quarter, overall average hourly tech wages in 2007 were up compared to 2006. In 2007, the overall average hourly tech wage was $31.62 compared with $30.17 in 2006.
In the fourth quarter of 2007, the average hourly tech wage was $31.92 compared with $30.17 in the same quarter of 2006.
Compared with the same months in 2006, wages rose 7.1% in September 2007, grew 5.7% in October 2007, and increased 3.4% in both November and December of last year.
Looking ahead into the first quarter of 2008, Lanzalotto said he is "cautiously optimistic" that demand for tech talent and hourly wages will continue to show "solid mid-single digit growth."
Pockets of strong demand continue for SAP talent, project managers, and data warehousing skills, he said.
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