IT workers' salaries are starting to fall, according to a top US headhunting agency.
Challenger, Gray & Christmas said that 75 per cent of top-earning workers changing jobs have reported taking a pay cut.
A company spokesman told the E-Commerce Times that US employers are in no hurry to hire, and believed that they can find the necessary skills for a lot less money.
The rapid gains made during the tech boom are still reflected in many salaries, but workers feel less well off than in the boom years as stock options decrease in value.
Silicon Valley, Boston and Washington DC, where large number of unemployed skilled technical workers are concentrated, are seeing steeper salary drops. The hardest hit areas are web marketing and design.
Challenger said that, given the length of the slowdown, a strong economic upturn will need to occur before employers start to pay incoming workers significantly more.
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