After Hitting All-Time Highs in 2007, Tech Wages Drop in 2008
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PHILADELPHIA--(Business Wire)--
After hitting all-time highs in 2007, hourly wages for
highly-skilled technology professionals dropped year-over-year during
the first quarter of 2008, paralleling current market and economic
conditions, according to the latest Yoh Index of Technology Wages.
The Yoh Index of Technology Wages reached a first quarter low of
110.55 in February 2008, when indexed to January 2001 (1/2001 = 100),
indicating a 2.7 percent decrease in wage growth, when compared to the
same period in 2007.
-0-
*T
Week 2001 2007 2008 Change from
2007
----------------------------------------------------------------------
4 100.18 115.28 111.58 -.5%
----------------------------------------------------------------------
8 102.11 115.96 110.55 -2.7%
----------------------------------------------------------------------
12 103.04 112.81 112.49 -.8%
----------------------------------------------------------------------
*T
"There is no denying the market's sluggishness," says Jim
Lanzalotto, Vice President of Strategy and Marketing for Yoh. "The
drop in wages this quarter, coupled with April's negative Bureau of
Labor Statistics report on employment, paints a very lackluster
picture of the economy. However, this continues to be a skill-driven
market and we're still seeing pockets of strength in the tech sector,
such as SAP, Oracle, security and product development, and software
and hardware engineers. It is our hope that the strength found in
these sectors will permeate the weaker sectors of the market and
ultimately produce stronger wage growth for the second half of 2008."
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
over 15 major metropolitan areas, Yoh has determined the skills most
in demand for each market. Roles that appeared most frequently
nationwide included:
-- Biostatistician
-- Civil Engineer
-- Clinical Research Associate
-- Firmware/Embedded Engineer
-- Java Developer
-- Mechanical Engineer
-- .Net Developer
-- Oracle DBA
-- Project Manager
-- SAP(R) Consultant (Functional/Technical)
The Yoh Index of Technology Wages provides a unique barometer of
the changes in employer demand and supply of technology talent
nationwide. It is not based on polls, surveys, projections or other
anecdotal evidence. The Yoh Index of Technology Wages is built on
solid data compiled by Yoh's 75 U.S. field offices and uses actual
employment activity of as many as 5,000 technology professionals
outsourced on short-and-long-term projects by more than 1,000 of the
nation's top employers in the aviation, engineering, information
technology, manufacturing, scientific, telecommunications, and utility
industries.
For more information, or to sign up to receive future editions of
the Yoh Index of Technology Wages before they are released, please
visit yoh.com/yohindex.
ABOUT YOH
Yoh is one of the largest providers of talent and outsourcing
services to customers in the United States. With 374 Million USD in
total sales, Yoh operates from more than 75 locations and provides
long-and-short-term temporary and direct placement of technology and
professional personnel, as well as managed staffing services, for the
information technology, scientific, engineering, health care and
telecommunications communities. For more information, visit yoh.com.
Yoh is part of Yoh Services LLC, a Day & Zimmermann Company.
ABOUT DAY & ZIMMERMANN
Day & Zimmermann accelerates customer success by delivering
diversified services. Operating from more than 150 worldwide locations
with 2.2 Billion USD in revenues, the Day & Zimmermann family of
companies employs 24,000 professionals and is currently ranked as one
of the largest private companies in America by Forbes and is a former
winner of the U.S. National Family Business of the Year award. Founded
in 1901 and headquartered in Philadelphia, PA, Day & Zimmermann
companies today provide staffing services,
architectural-engineering-construction services, power plant
maintenance and modification services, security services, and
validation services to businesses and government agencies, and
munitions production, equipment maintenance and facilities management
services to the Department of Defense. For more information, visit
dayzim.com.
Yoh
Jim Lanzalotto
Vice President of Strategy & Marketing
215-656-2689
Jim.Lanzalotto@Yoh.com
or
Press contact:
Gregory FCA
Meredith Glanzmann
Senior Account Executive
610-642-8253, ext.112
Meredith@GregoryFCA.com
Copyright Business Wire 2008
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