Yoh Index of Technology Wages Reports Highest Average Wages Yet
for Technology Workers but Growth Cools at the End of 2007
PHILADELPHIA--(Business Wire)--
Hourly wages for highly-skilled technology professionals reached
an all-time high during the fourth quarter of 2007. And though growth
slowed sequentially at the end of the year, it still remained ahead of
2006, according to the latest Yoh Index of Technology Wages. The
average hourly wage for high-impact technology workers was recorded at
$32.39 during October, the highest average pay figure documented by
the Yoh Index of Technology Wages since its inception in 2001.
However, reflecting the economy's sluggishness in late 2007,
average wages dropped $0.88 in November from October. Similarly, while
average wages had experienced a 7.1 percent increase in September,
they were followed by 5.7 percent growth in October, and 3.4 percent
improvement in November and December, when compared to the same months
in 2006.
"Despite a sequential drop at the end of 2007, we continue to see
strong wage growth year-over-year, and remain cautiously optimistic
for the technology and professional job market in 2008," says Jim
Lanzalotto, Vice President of Strategy and Marketing for Yoh.
"Weaknesses from other sectors of the economy may have permeated here
and caused the decline. But customer demand is still strong, project
backlogs are still full, and there are no signs that works in progress
will be abandoned."
The Yoh Index of Technology Wages reached a high of 115.96 in
October 2007, when indexed to January 2001 (1/2001 = 100), indicating
a 5.7 percent increase in wage growth, when compared with the same
period in 2006.
-0-
*T
Week 2001 2006 2007 Change from
2006
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40 100.18 107.63 115.28 7.1%
----------------------------------------------------------------------
44 102.11 109.70 115.96 5.7%
----------------------------------------------------------------------
48 103.04 109.02 112.81 3.4%
----------------------------------------------------------------------
52 97.71 109.42 113.17 3.4%
----------------------------------------------------------------------
*T
"Technology workers in the job hunt should zero in on how their
skills can help businesses be more profitable, better serve their
customers, and improve efficiencies during a softening economy," says
Lanzalotto. "While the overall market outlook is weakening, it is
still a great time to be in the technology sector."
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 www.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, healthcare 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
