More than half of IT professionals are expecting a pay rise during the next 12 months.
In total 59 per cent of IT workers expect to see their salaries increase during 2018, while 41 per cent also expect to be on the end of a bonus, according to research by Robert Walters. However that may prove to be wishful thinking with almost a third of employers openly admitting that they do not plan to put wages up during the next year. That said, some 43 per cent are planning increases of 1-3 per cent while a further 29 per cent are looking at increases of 4-6 per cent.
Ahsan Iqbal, associate director at Robert Walters believes that due to a relatively recent rise in demand for specialists wages are already fairly high. “Demand for specialists across cyber security and development has been high for the past few years, driven by the rising threat of cyber-crime and the drive towards digitalisation projects,” Iqbal said. “As a result, salaries for IT and tech professionals are already at a notably high level as employers compete to secure top talent.
“However, with demand for these skills remaining high, IT professionals still expect employers to offer increases in remuneration. Particularly for smaller firms, meeting the salary expectations of IT specialists may be challenging, with large multinational firms out competing them in terms of remuneration.”
He added: “However, this may not necessarily be a barrier to securing top talent. Increasingly, IT professionals are emphasising the importance of a good work life balance when considering a role. By embracing flexible working strategies and putting policies in place to allow staff to work remotely, employer may be able to gain an edge over competitors.
“In addition, the potential for career progression is a high priority for many IT specialists. By demonstrating a commitment to providing training and offering professionals the chance to develop their careers, businesses can attract top calibre professionals.”