In a market where salaries are dropping rather than rising, IT professionals are bucking the trend. In the UK, and in much of the rest of the world, how much people are paid is falling. This is the case regardless of the study consulted for analysis when examining the trend in real terms. A recent study by the Institute for Fiscal Studies (IFS) showed that, in the UK, one third of people saw their salary fall in 2010 and 2011. The IFS also found that the pay gap between private and public sectors has grown rather shrunk.
During this time of austerity, as salaries are falling in real and inflation-adjusted terms, IT professionals have seen wages rise substantially. A glance at the salaries for positions advertised on specialist IT recruitment agency websites illustrates this perfectly. Given that many IT jobs are paid using a daily rate, many of the roles advertised quote a day rate in the salary field enabling a comparison with other industries. Day rates of £400-£600 are the norm and daily rates of £800 plus for IT managers are easy to find.
High demand and low supply is behind rising IT wages
Research conducted for the Robert Half Technology 2013 Salary Guide shows that, in real terms when adjusted for inflation, salaries for IT professionals have risen. The same research shows that the main driver behind these rising salaries is the fact that demand is far outstripping supply. There simply are not enough qualified and experienced Information Technology professionals to fill all of the roles. Interestingly, this appears to be a global problem. This fact is leading many firms to cast their net wide when trying to fill positions within their company.
It should be noted that more and more foreign companies are posting vacancies on the website advertising to UK professionals. At the moment, it is mostly European firms who are advertising IT roles on the website, however there are also a few firms from further afield represented within their job database. The fact that it takes several years to qualify and gain experience means that increasing IT salaries, after being adjusted for inflation, are likely to be the norm for many years to come.
Whether you are new to IT or looking to make your next career move, there are a number of specialist IT Job websites available to assist you in your search. These clearly lay out options to search for but don’t be restricted by those selections. Try out some of the larger sites when looking for a specific type of role rather than restricting yourself to just one.
If you are looking for a job, check out the IT job board at – it is one of the best places to find a new job or start your new career as they have hundreds of jobs posted online every day.
