Global skills shortage continues to drive up IT salaries

A major skills shortage is continuing to drive up salaries for IT professionals globally.

A major skills shortage is continuing to drive up salaries for IT professionals globally.

The annual survey for 2007 by international recruitment firm Robert Walters says the demand for particular skills is driving up rates and there is an ongoing shortage of suitable candidates.

Salaries increased throughout 2007 for both permanent and contract staff, said Robert Walters, with substantial growth throughout the second and third quarters.

The banking sector slowed however with the onset of the credit crunch in the final quarter of the year.

There were ongoing skills shortages in development and solutions architecture, database administration and mid- to senior-level testing.

This shortage combined with a lack of project managers and technical support staff is pushing salaries to unprecedented levels, said Robert Walters.

There is a major skills shortage of IT professionals with SAP, Oracle and Microsoft .net framework skills, found the survey.

The survey also found that increasing temp rates, driven by increased outsourcing, are tempting permanent workers to move to temp contracts.

But a slowdown in public sector spending means demand is weakening.

The conclusion of large-scale projects, combined with lessening public sector spending and increasing levels of outsourcing, is now shaping the public sector market, said Robert Walters.

Read more on IT jobs and recruitment

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.