We've never had it so good, claims report

Wages for IT workers are rising fast, according to a survey by recruitment firm Yoh.

The company surveyed 9,000 managers and found US wages rose nearly six per cent in the third quarter of this year, when compared to the same quarter last year. Demand was particularly strong for firmware engineers and Java and .Net developers.

"These are the good old days for IT, engineering, clinical research and scientific markets, and pay growth this quarter is certainly a testament to that," says Jim Lanzalotto, vice president of strategy for Yoh.

"Wage growth is strong, demand is increasing due to rapid advancements in technologies, and all leading indicators point to increased hiring in coming months. But while the job outlook is positive, the industry still needs to consider the long-term pipeline and develop incentives for more students to seek degrees in maths, computer science and engineering so that it doesn't suffer a significant loss of IT skills and qualified professionals."

The news will be welcomed by those worried that an increasing trend towards outsourcing and offshoring software development is driving down wages.

The Yoh Index of Technology Wages, which began at 100 in January 2001, reached a high of 113.60 during the third quarter of 2007, indicating a 5.79% increase in wage growth when compared with the same period in 2006.