The majority (65%) of IT professionals anticipate a pay rise this year, according to a survey from recruiter Robert Walters. Of those questioned, 40% are expecting a pay rise of between 1% and 3% of their salary and one in 10 predict an increase over 10%.
More than three-quarters (76%) of IT professionals based in London said they anticipate a bonus in 2015 – the most of any region nationwide; 65% in the Midlands expect a bonus, which is in line with the national average. Some 55% of those based in the north also said they are hoping for a bonus.
James Murray, associate director of IT recruitment at Robert Walters, said: “The strength of the economy is underpinning investment in IT teams around the country, pushing up competition for top professionals and leaving many confident of receiving a well-deserved pay rise.
“As we head into 2015, it is apparent that IT professionals have more confidence in the jobs market than they had last year, with only 12% worried about the state of the jobs market."
According to the report, half the respondents said they are confident in finding a new job in 2015, compared to only 12% who disagreed. Nearly half (43%) said they are already looking for a new role and 25% plan to make the move within the next 12 months.
Murray added: “The survey tells us that increased compensation and career progression are among the main reasons that IT professionals change jobs, so it is crucial to offer attractive benefits and good career development opportunities to recruit the best.”
IT vacancies continue to grow
IT and computing posted fifth out of nine sub-sectors in the demand for staff rankings, according to the latest Report on Jobs, by KPMG and the Recruitment and Employment Confederation (REC).
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Despite a 17-month low (63.9) at the end of 2014, the IT sector has reached a three-month high in January (64.4) for permanent vacancies - a mark of 50 indicates no change from the previous month. The rise on the job index marks a move in the right direction, however the UK average across all sectors was 65.1.
Demand for temporary IT staff grew slightly with the index rising from 62.5 to 62.6, which was little change from December's 15-month low. IT and computing placed fourth out of nine sub-sectors in the "league table" of demand for staff .
Heath Jackson, partner in the CIO Advisory practice at KPMG, said: “They say good news comes in threes and it certainly seems to be the case for the UK economy. The past month has seen a rise in employment, a jump in the number of jobs being created and a growing number of firms prepared to pay more to land the best staff.
“However, the good news is only half the story. Starting salaries may be continuing to rise for the jobs being created today, but this is unsustainable over the long term. Employers will reach a point where they cannot afford to keep throwing money at candidates, no matter how much their skills are in demand. We are some way off this happening, but if does, candidates who are in demand today might find it harder to knock doors down, tomorrow.”