Rate this article:
Average rating:
Total votes: 6
You’ll get a pay hike in 2008, but don’t expect a windfall.
That’s the word from current salary surveys and reports indicating that techies can expect moderate raises in 2008. Figures vary, depending on the source, but the surveys suggest average raises of 3 percent to 5 percent, with more going to those with highly coveted skills, such as .Net, Java or financial services. “Many companies are raising base compensation for new hires and offering additional perks, including signing bonuses and equity incentives, to recruit and retain top candidates,” says Katherine Spencer Lee, executive director of Robert Half Technology.
That doesn’t mean candidates should kick back and wait for their raises to appear in their bank accounts. Employers continue to be selective in their hiring, seeking techies who have top-notch communication skills and an understanding of the business environment. And if you’re tempted to party like it’s 1999, think again. The subtitle to Computerworld’s 2007 Jobs Report says it all: “Back from the Brink.” As Computerworld puts it, “After a big tumble in 2002, IT salaries have been climbing steadily. But for IT workers trying to regain their financial footing, a string of 3 percent increases makes the going tough.”
Here are key results from various surveys and reports:
Robert Half Technology
The Robert Half Technology 2008 Salary Guide predicts average salary increases of 5.3 percent for technology workers in 2008, but bigger increases for professionals in applications and Web development and network management. Lead application developers will see the biggest pay hikes, with base compensation rising 7.6 percent.
The guide predicts the following 2008 increases for these professions:
- Applications architect: 7.5 percent.
- Web designer: 6.1 percent.
- Developer/programmer analyst: 6 percent.
- Network architect: 5.8 percent.
- Web developer: 5.3 percent.
- Database administrator: 5.1 percent.
- Project manager: 5 percent.
- PC technician: 3.9 percent.
- Systems administrator: 3.8 percent.
- Network engineer: 3 percent.
- Telecommunications manager: 2.9 percent.
The survey emphasizes employers’ interest in both hard-core technical skills and soft skills. “An understanding of the broader business and industry trends is valuable as IT professionals assume more visible roles in shaping a company’s strategic decisions and in helping increase efficiencies and profits,” the guide says.
Computerworld’s 21st Annual Salary Survey
According to this annual survey, techies’ salaries increased an average of 3.7 percent in 2007, with 75 percent of the survey’s 9,290 respondents reporting salary increases, up slightly from the 72 percent who reported getting an increase in 2006. But salary increases varied widely, depending on job role and industry, and Computerworld’s survey delves into the details with in-depth charts and figures. The survey provides evidence of just how much an individual’s industry matters. For instance, project managers in energy/utilities outearned project managers in education, $122,009 to $78,216.
Among the survey’s voluminous findings were the following raises for specific job roles:
- Chief technology officers: 5.4 percent.
- Network engineers and wireless network engineers: 4.6 percent.
- IT/IS managers: 4.1 percent.
- Network administrators: 3.8 percent.
- Programmer/analysts: 3.8 percent.
- Database administrators: 3.2 percent.
- Project managers: 2.7 percent.
Foote Partners IT Skills and Certifications Pay Index
Certifications continue to decline in value compared with skills not requiring certification, according to research firm Foote Partners. As companies seek employees with broad-based business knowledge, they are less interested in vendor-approved credentials.
In its Q3 IT Skills and Certifications Pay Index, Foote notes a resurgence in pay for the following noncertified skills:
- Enterprise business applications (Oracle, SAP).
- Application development (C#, C++, Java, Ruby).
- Web and e-commerce (such as .Net, Ajax, WebSphere).
- Databases (Oracle, SQL Server, MySQL, DB2).
- Management, process and methodology (such as project management, CRM and business intelligence).
Salary.com
A Salary.com survey of technology jobs indicates two factors -- your region and how recently you switched jobs -- can make a difference in your salary. Those hired in the last 12 months made an average of 4.1 percent more than those with a longer tenure. Working in the Bay Area meant you were likely to earn 11.4 percent more than the national average, while tech workers in Florida earned 5.3 percent less than the national average. But before you relocate in the hopes of snagging a bigger salary, remember that cost-of-living differences could eat up any increase.
Additional Technology Career Advice: