Fourth Quarter Rise in Technology Wages Reflects Improved Economy
According to the latest Yoh Index of Technology Wages, the quarterly compensation index used by Fortune 500 companies to determine salary scales, technology wages experienced a 1.2% increase by mid-quarter and ended in December with a 3.1% increase, when compared to the same months in 2005.
"At the close of 2006, we continued to see steady year-over-year growth," says Jim Lanzalotto, Vice President of Strategy and Marketing for Yoh. "When combined with today's solid economic growth, we remain positive for the technology job market in 2007 and expect to continue to see consistent increases in tech wages."
The Yoh Index of Technology Wages ended the fourth quarter of 2006 at 109.42, when indexed to January 2001 (1/2001 = 100), indicating an overall 3.1% increase in wage growth since the end of 2005, as well as year-over-year growth of nearly 15% since 2002.
|
Week |
2001 |
2005 |
2006 |
Change from 2005 |
|
40 |
100.18 |
107.51 |
107.63 |
.1% |
|
44 |
102.11 |
108.37 |
109.70 |
1.2% |
|
48 |
103.04 |
107.91 |
109.02 |
1% |
|
52 |
97.71 |
106.12 |
109.42 |
3.1% |
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 fourth quarter of 2006, and their average hourly pay rates as determined by the Yoh Index of Technology Wages, are:
-
Analytical Chemist $35.58
-
Clinical Research Associate $46.54
-
Drug Safety Manager $54.42
-
Electrical Engineer $46.37
-
ERP Functional Consultant $80.76
-
ERP Technical Consultant $84.36
-
Firmware Engineer $58.82
-
Java Developer $47.07
-
.Net Developer $50.58
-
Project Manager $58.51
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
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