Tech Wages Hit Highest Level in Five Years During Fourth Quarter of 2005
Wages for high-impact technology professionals up significantly since fourth quarter, 2001
PHILADELPHIA—February 6, 2006—Hourly wages for highly skilled technology professionals hit record levels in the fourth quarter of 2005, according to the latest Yoh Index of Technology Wages, the quarterly compensation index used by Fortune 500 companies to determine salary scales since 2001.
In the fourth quarter, wages increased 3.1% overall, when compared to the same quarter in 2004. Wages reached their peak in the four-week period between October 10, 2005 and November 6, 2005 when they averaged $30.27 per hour, and the Yoh Index of Technology Wages hit 108.37, the highest level it has reached since its inception in 2001. The Yoh Index of Technology Wages ended the fourth quarter of 2005 at 106.12, when indexed to January 2001 (1/2001 = 100), representing a near 11% total increase in wages for high-impact technology professionals since the fourth quarter of 2001.
"Ending 2005 with the highest wages for skilled technology professionals recorded in five years is a high water mark for the industry. Despite major economic setbacks during the year, the technology industry has demonstrated its strength and confirmed its power to propel the employment market in a positive direction," according to Jim Lanzalotto, Vice President of Strategy and Marketing for Yoh, a Day & Zimmermann company. "Between the growing need for information security experts, highly-knowledgeable ERP and Internet-based technology professionals, and advanced healthcare technology to help answer the call of aging baby boomers, our outlook for the technology employment market and its wages is optimistic for 2006."
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 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 technology job titles in greatest demand nationwide during the fourth quarter of 2005, and their average hourly pay rates as determined by the Yoh Index, are:
- Clinical Research Associate - $38.52
- Data Manager - $45.06
- CRM Project Manager - $62.01
- Data Warehouse Architect - $69.03
- Hardware/Firmware engineer - $59.34
- .net Developer - $45.77
- Oracle Database Administrator - $55.82
- Project Manager - $57.07
- SAP Functional Consultant - $75.09
- Senior Scientist - $43.76
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 40 U.S. field offices, and uses actual employment activity of over 5,000 technology professionals outsourced on short- and long-term projects by over 1,000 of the nation's top employers in aviation, engineering, information technology, manufacturing, scientific, telecommunications, and utility industries.
About Yoh Index of Technology Wages
The Yoh Index of Technology Wages is based on a quarterly download of data based on actual wages of some 5,000 temporary technology labor pool 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 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, telecommunications, and industrial 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 1.3 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.