IT wages down four per cent

IT executives face fall in reward for next step on the career ladder

Research by an online recruitment service for senior executives has found that while most salaries are increasing, IT wages have declined four per cent since last October.

Experteer found the average pay of employees in the public sector, consulting and financial services had jumped from £70,000 to £74,000 in the past six months despite the recession.

However, IT salaries had fallen, probably as a result of a greater decline in the number of jobs in the sector, said Experteer.

“It’s good news for all sectors bar IT,” the firm said.

According to the research, IT specialists have been hardest hit, with average salaries dropping six per cent from £66,000 to £62,000.

IT managers have seen their average wage drop from £80,000 to £77,000, while salaries for senior IT executive have declined from £119,000 to £115,000.

Experteer managing director Torsten Muth advised IT executives wanting more money to try pastures new.

“Ambitious IT executives facing a fall in reward for their next step on the career ladder should consider whether their experience might be relevant to other industries in which salaries continue to rise, such as consulting and financial services,” Muth said.