Tech Wages Slip in Q3

Yoh Index of Technology Wages indicates softening of the market in certain sectors as Index reaches lowest level since early 2006

PHILADELPHIA—November 5, 2008—Wages for technology professionals appear to be on a steady decline according to data from the third quarter Yoh Index of Technology Wages. With more than a six percent drop, technology wages are at the lowest level since the beginning of 2006.

 

"It appears that the demand for technology workers continues to ebb," says Bill Yoh, President and CEO of Yoh. "We believe we'll continue to see softening in certain sectors as the state of the economy leads companies to tighten budgets and delay projects. Although it's too early to predict exactly when this wage downturn may end, we expect it will continue through the remainder of 2008, but improvement in the financial markets may create some stability in early 2009. In the meantime, we are seeing some bright spots—wages in health care, telecom and aviation have remained steady despite drops in other areas."

 

At its lowest point this quarter, the Yoh Index of Technology Wages dropped 6.21 percent from the same time last year, when indexed to January 2001 (1/2001 = 100). Earlier in the quarter, wages increased 1.86 percent compared to 2007 levels, only to decrease as the quarter progressed.

Week	2001	2007	2008	Change from 2007
28	100.61	112.53	114.62	1.86%
32	100.04	111.46	112.03	.51%
36	100.18	113.60	106.55	-6.21%

 

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.

 

Based on conversations with more than 9,000 hiring managers in over 15 major metropolitan areas, Yoh has determined the skills most in demand across the U.S. Skills that appeared most frequently nationwide included:

 

Ÿ Biostatistician

Ÿ Civil Engineer

Ÿ Clinical Research Associate

Ÿ Firmware/Embedded Engineer

Ÿ Java Developer

Ÿ Mechanical Engineer

Ÿ .Net Developer

Ÿ Oracle DBA

Ÿ Project Manager

Ÿ SAP® Consultant (Functional/Technical)

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 374 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 2.2 Billion USD in revenues, the Day & Zimmermann family of companies employs 24,000 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.