In this week’s blog, we look at the recent IT salary survey conducted by DICE, as well as, IT contracting rates in the Silicon Valley.
According to the DICE survey, technology salaries in the U.S. have increased by 5% in the last 12 months; which is the most it has ever jumped within the last 10 years.
In the Silicon Valley, it is even more pronounced as we have seen a 4.4% increase in bill rates and a 6.6% increase in pay rates just in the 4th quarter. Being in one of the hottest labor markets in the world and hub of technology, it’s even a more pronounced effect in terms of the wage and rate increases.
This comes as no surprise, since 64% of tech professionals stated that they were confident that they could find a new and more favorable position.
In addition to increasing salaries to keep top talent, companies are attempting to motivate staff with more interesting and challenging assignments.
To find out more on how to grow your business despite the talent shortage, download our free executive briefing or call for your free consultation with one of our talent consultants at (800) 408-2120.
Join us next time to discuss, “The Rising Business Trend of Utilizing Contract and Temporary Workers” with Lisa Sullivan, COO of The Armada Group.