Yoh Index of Technology Wages
Measuring changes in employee demand and
supply of technology talent worldwide.
Tech Wages Drop in 2008, After Hitting All-Time Highs in 2007Hourly wages for highly-skilled technology professionals dropped year-over-year during the first quarter of 2008 after hitting all-time highs in 2007, paralleling current market and economic conditions. 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. Following current economic conditions, wages dropped throughout the entire first quarter of 2008 when compared to the same period in 2007. The decrease in wages was the highest in February with the rate changing 2.7%; January and March saw much smaller decreases with the changes being only .5% and .8% respectively. "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." 
Yoh began indexing pay rates in the technology sectors in January 2001. The technology wage market experienced an unstable year in 2001 and then fell dramatically after September 11. Wages experienced another up-and-down year in 2002, but were then up slightly in 2004, as compared to 2003. In 2005 and 2006, tech wages consistently outpaced national trends with 2007 wages starting out strong but slowed at the end of the year. In 2008, wages continued to drop reaching a first quarter low of 110.55 in February 2008. The Yoh Index of Technology Wages presents a current view of the changes in employer demand and supply of technology workers nationwide. Indexed to January 2001, the Yoh Index of Technology Wages was first introduced in January 2003 and is released quarterly.
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