Record-breaking Tech Wages Reported in First Quarter
PHILADELPHIA—April 12, 2007—Highly-skilled technology professionals are making more money than ever, according to the Yoh Index of Technology Wages, the quarterly compensation index used by Fortune 500 companies to determine salary scales. The average hourly wage for high-impact technology workers was recorded as $31.80 during the middle of the first quarter, the highest average pay figure documented by the Yoh Index of Technology Wages since its inception in 2001.
"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."
The Yoh Index of Technology Wages reached 112.24 in the first month of the year, when indexed to January 2001 (1/2001 = 100), indicating a 5.5% increase in wage growth, when compared with the same period in 2006. In mid-quarter, the Index reached 113.86, the highest level it has reached since its inception and ended the quarter at a more moderate 3.2% increase.
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 first quarter of 2007, and their average hourly pay rates as determined by the Yoh Index of Technology Wages, are:
• .NET Developer $53.40
• Aerospace Engineer $48.41
• Clinical Research Associate $59.83
• Database Administrator $59.80
• ETL Developer $66.52
• Hardware Engineer $75.68
• Java Developer $57.27
• Project Manager $60.73
• SAP® Functional Consultant $76.67
• Technical Consultant $83.72
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 over 380 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 1.9 Billion USD in revenues, the Day & Zimmermann family of companies employs 20,000 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.
