by Global Knowledge Network, Inc.
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Published on: May 2006
Type of content: ANALYST REPORT
Adobe Acrobat (.pdf)
Length: 10 pages
Slowly but surely the opportunities for IT professionals are increasing from the crash of 2001. The March employment report from the Bureau of Labor Statistics reported an increase of 1.7% from a year ago in employment within the sector covering ISPs and search portals. In spite of the 2.5% drop in telecommunications employment, the total employment in Information increased 2.0% and wages increased 0.4% compared to March 2005. Financial services - an important sector for expanding IT and security employment - increased job rolls by 16% during the same period.
In a recent study by Salary.com and Money magazine, the top 10 jobs for the next five years include Software Engineer (1) and Computer IT Analyst (7). Integrating VoIP and expanding into web-centric business models such as Google are hot topics. Demand for Linux skills continues to increase as well.
However, it remains a buyer's market with a demand for the IT professional to have a broader set of skills. The March CIO poll reported that 9% of senior IT executives surveyed were not planning any increases in salary and compensation over the next quarter. To remain somewhat competitive, 71% are planning wage increases between 1% and 9%. The downward pressure in salary growth is a result of the view of nearly 66% of those polled that skilled IT professionals are readily available.
Citing a report by Foote Partners, Network World added to the call for broader skills. Simply being a technical expert is no longer sufficient.
Companies are looking for people with vertical industry experience such as finance or health care along with project management expertise,
greater communication and collaboration skills, and a broader understanding of the enterprise.
For both employers and staff, continued success will be based on staying current with the latest best practices.
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