Yoh Index of Technology Wages
Measuring changes in employee demand and
supply of technology talent worldwide.
Tech Wages Hold Steady in 2009
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Throughout the first few weeks of 2009, wages held steady, hitting a peak of 32.81 early in the quarter—just a 1.62 percent increase from the same time last year. At its lowest, the average tech wage sank to 31.05, a slight .21 percent increase from the same time last year. Wages inched slightly higher to close out the quarter at 31.46. "While the market for technology workers remains sluggish, we are starting to see stability in pay rates," says Bill Yoh, President and CEO of Yoh. "Wages have remained relatively unchanged from the end of 2008 and moving into early 2009. Companies are continuing to hold steady, adopting a 'wait and see' attitude. As economic recovery begins to take hold, we should see a gradual uptick in wages. We won't see complete revitalization immediately, but these wages can be one of the first indications of economic restoration."
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 the beginning of 2008, wages continued to drop reaching a first quarter low of 110.55 in February. Q3 showed the lowest drop since the beginning of 2006, despite a slight peak at the end of Q2, and remained flat through the end of 2008. The employment markets covered by the Yoh Index of Technology Wages are:
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