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November 24, 2006
IT Employees Aren’t Being Paid What They Used To, But at Least They’re Hiring (11/24/2006)
Contract IT workers are not being paid as much as they used to, indicating the decreasing need of IT contractors in the work force. This only applied to Contract IT workers, or freelance, consulting-type workers. However, IT employees with permanent positions are averaging a higher annual salary. Contractor salaries fell from $83,800 to $82,700, while permanent IT workers earned $64,300, up $1,700 from the previous year. Tech jobs have had generally high starting wages, but they tend to plateau earlier, while other occupations such as finance have a higher potential for growth in their salary.
In other related news, there has been a surprising rise in demand for IT worker, however, there is a catch. Apparently, Although there is a demand, the contracts that are being offered to IT workers have shorter terms than usual, and this limits the amount of permanence for individuals that are in this field of work. For example, many employees are taking three-month contracts in New York, but once that expires, the next available work would be in Silicon Valley. It can really hurt you relationships with friends and family. Personally, I am an accounting major, which is also a high-demand occupation, and there is a bigger sense of permanence because contracts generally span more than one year and the starting wages are decent while leaving room for moderate career advancement. It is clearly more stable than an IT position.
Posted by dww6 at November 24, 2006 06:06 PM
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