Report: Tech Pay Broke the Bank in Early 2007
In the first quarter of 2007, IT professionals raked in their highest average wages since 2001, finds the Q1 Yoh Index of Technology Wages, released April 11.
Technology pay reached an average hourly rate of $31.80 in Q1 2007, finds the report. Wages saw a 5.5 percent bump in January, a 4 percent gain in February and 3.2 percent growth in March, when compared to the same months in 2006.
"At the end of 2005, we believed wage growth would continue to be strong into 2006. It's evident from this data that this trend continues unabated in 2007," says Jim Lanzalotto, vice president of strategy and marketing for Yoh.
"The technology sector continues to demonstrate its strength and confirmed its ability to propel the employment market in a positive direction. We expect to see steady wage growth in this sector due to today's solid economy and emergence of new technologies, such as Web 2.0, SAAS and social networking. Growing tech trends in the pharma and clinical spaces, including RFID (Radio Frequency Identification) and eCTD (Electronic Common Technical Document), are also sure to serve as big drivers of climbing tech wages in the future."
Yoh bases its research on the paychecks of more than 5,000 temporary tech workers in roles such as SAP programmer, change analysts, J2EE architects and advanced GIS engineers.