BUSINESS
IT salaries continue to rise: report
28-01-2008
by Emmet Ryan
Pay levels in the technology sector are looking up, according to new research by IT recruitment firm Verkom.
Verkom says a shortage of candidates across most areas of the IT sector means pay levels in the sector will hold firm in the current year. The recruitment company also claims there will be continued upward pressure on salaries in key functions where the supply of candidates remains tight. Verkom made the claims in its new 2008 Salary Guide.
Depending on experience, full-time professionals in the industry are now commanding basic salary levels ranging from EUR22,000 for a localisation specialist straight out of college to over EUR150,000 for a chief technical officer with five years' experience. Meanwhile, in the contract sector, daily rates range from EUR150 to EUR1,000 or more depending on the skills sets and seniority involved.
"Currently, there is a candidate shortage across most areas of IT. There is very strong demand for business analysts and project managers in the financial areas of security, audit or compliance. Development skills including Java, J2EE, C# and .net skills are also in high demand as are good automation testers and test and QA managers," said Karen O'Flaherty, director of Verkom. "In the contract market, the rates on offer in Ireland are attracting excellent people from across Europe, as well as helping to retain Irish talent."
The report's findings on salaries come as second level students across the country ponder the type of career path they wish to take with the Central Applications Office (CAO) deadline of 1 February looming large.
"The IT sector is a key component of Ireland's future prosperity; however the skills shortage is still biting. It remains very important to encourage students to enter IT courses at third level to ensure that there is a steady supply of highly qualified talent available to the economy in the years ahead," said O'Flaherty.
She said the IT sector would remain a solid sector for those entering the workforce to consider in the coming year.
"Forecasts for the growth of the Irish economy range from 2.1 percent to 3.8 percent for 2008. While this represents a softening in economic conditions, the country is still in growth mode. Overall it will remain a candidates' market in IT with some minor exceptions," said O'Flaherty.
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