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IT workers' salaries 'hold steady' during credit crunch

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Breaking news from ihotdesk, the home of IT outsourcing in London:
The salaries of most freelance IT workers have "held steady" despite the credit crunch, new research has revealed.

Category SME IT
14 January 2008
 
The salaries of most freelance IT workers have "held steady" despite the credit crunch, new research has revealed.

While pay rates saw a boost in the first quarter of 2007 the average IT contractor earned £40 per hour in the first and final quarter marking a steady year, according to the iProfile Skills Survey released by recruiters SkillsMarket and the Association of Technology Staffing Companies (ATSCo).

IT employees also avoided the widespread economic "downturn" as the study found that annual salaries during the third quarter were unchanged since June, when they were said to be £35,000.

Ann Swain, chief executive of ATSCo, said: "2007 seems to be concluding the same way that it started with strong demand for contract and permanent IT staff.

"Our members predict this trend to continue into 2008 with those possessing niche skills more likely to see a rise in pay rates."

The survey revealed that knowledge of C++, Java, Oracle, SAO and Unix was most likely to earn employees a pay rise compared with C or Lotus Notes skills.

IT professionals working in the East Midlands also saw a boost in average pay compared with those in the West Midlands and east of England who experienced a slight pay decrease.

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