Tech Wages Improve During Third Quarter, Yoh Index Reports
PHILADELPHIA—October 11, 2006—Hourly wages for highly-skilled technology professionals continued to climb in the third quarter of 2006, when compared to the same period in 2005, according to the latest Yoh Index of Technology Wages, the quarterly compensation index used by Fortune 500 companies to determine salary scales.
Wages rose at varying levels during the third quarter, but showed significant improvement with each successive month and ended on a positive note. The Yoh Index of Technology Wages reported a slight .1% increase in July, followed by a 1.4% uptick in August, and then ended with a 2.4% improvement in September, when compared to the same months in 2005.
"We're seeing similar growth patterns right now to the tech job trends in 2004-2005," says Jim Lanzalotto, Vice President of Strategy and Marketing for Yoh, a Day & Zimmermann company. "Wage growth is steady, and all leading indicators point to increased hiring in coming months, as well as continued demand for high-impact technology skills. The outlook for the technology job market is very positive, but the industry can't forget this year's back-to-school blues – we need to keep in mind the long-term pipeline and develop incentives for more students to seek degrees in math, science and engineering."
The Yoh Index of Technology Wages ended the third quarter of 2006 at 104.80, when indexed to January 2001 (1/2001 = 100), indicating a 1.2% in wage growth since the end of 2005, as well as a strong and steady increase in wages since 2003.
"The critical step for employers now will be to develop an engaging employer brand and desirable package of benefits to retain their key employees and intellectual property, as the opportunities for movement increase," Lanzalotto says. "Talent should also keep an eye on the growing ERP space, and look to develop the skills most companies will need in the next few years to manage their ERP migrations."
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.
The high-impact jobs in greatest demand nationwide during the third quarter of 2006, and their average hourly pay rates as determined by the Yoh Index of Technology Wages, are:
| Clinical Research Associate | $62.89 | |||
| Data Manager | $46.80 | |||
| ETL Developer | $65.58 | |||
| Hardware Engineer | $65.92 | |||
| Java Developer | $56.69 | |||
| Network Administrator | $38.71 | |||
| Oracle DBA | $58.55 | |||
| Project Manager | $54.41 | |||
| SAP Functional Consultant | $78.31 | |||
| Technical ERP Consultant | $83.36 | |||
The Yoh Index of Technology Wages is not based on polls, surveys, projections or other anecdotal evidence. It 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 over 1,000 of the nation's top employers in the aviation, engineering, information technology, manufacturing, scientific, telecommunications, and utility industries.
About Yoh Index of Technology Wages
The Yoh Index of Technology Wages is a quarterly download of data based on actual wages of some 5,000 temporary technology professionals hired by more than 1,000 businesses in the aviation, engineering, IT, manufacturing, scientific, telecommunications, and utility industries. The Yoh Index of Technology Wages provides a unique barometer of the changes in employer demand and supply of technology talent nationwide. For more information 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 over 367 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 reliable managed services. Operating from more than 150 worldwide locations with 1.6 billion USD in revenues, the Day & Zimmermann family of companies employs 20,000 professionals and is currently ranked in the top one percent of private companies in America by Forbes. Founded in 1901 and headquartered in Philadelphia, PA, Day & Zimmermann is a former winner of the U.S. National Family Business of the Year award. For more information, visit dayzim.com.
