Bad News for High-Tech Pay - Open Tech Support Community

» Forum Navigation

» Advertisement

		Open Tech Support Community > NEWS FORUMS > General News
Bad News for High-Tech Pay

Page 1 of 2

LinkBack

Article Tools

Bad News for High-Tech Pay

Published by Kdr Kane
04-30-2002

Bad News for High-Tech Pay

PALO ALTO, Calif. (Reuters) - Never mind that information technology workers are making a lot less from stock options; their base salaries and bonuses are also falling sharply, a new survey released Monday showed.

Information Technology managers should see an average 8 percent decline in total compensation this year, while rank and file IT workers should expect their pay to fall by 11 percent, according to a study by high-technology trade publication Information Week.

The study also found some other changes for the worse in the IT work place. It said workers generally had more stress and lower morale.

Personally, I see this as a normal business cycle. With the downturn in the economy recently and layoffs, it's an employer's market in high tech.

There will always be a demand for IT personnel. We just have to get over this bump in the road. It's probably a good time to stick to your current job unless you are absolutely certain about something new.

Source: Reuters

Article Tools

Show Printable Version

Email this Page

Search on Newegg.Com

Free Gift With Purchase of
Select Items at Newegg.com

#1 (permalink)

By Lord_Buttplug on 04-30-2002, 09:44 AM

Or you can't stand the place your at now. 8^P.

#2 (permalink)

By JANNA on 04-30-2002, 12:19 PM

i cant stand wisconsin but im sticking here cuz the job is good

#3 (permalink)

By Nfested on 04-30-2002, 06:56 PM

This may not be true for IT, but Computer related jobs should see higher demand in the near future.

Here's an excerpt from TIME magazine: Computer-related jobs will be among the fastest growing in the next decade. Leading the way will be those key employees who help large companies maintain their daunting tangles of technology, from system analysts and support specialists to database administrators

#4 (permalink)

By Null Actor on 04-30-2002, 07:32 PM

The reason the pay is falling is because there is an overabundance of people to fill the positions.

#5 (permalink)

By iTaL on 04-30-2002, 11:23 PM

The problem is overworked workers

They dont want to give job to a , artist , sound spechalist , program etc , there trying to get 1 person for 3 jobs

And they wonder why bootleggin and underground crime is riseing

Cause unless your hittin homeruns playing some sport , model , or entertainment industry the world says ahh there just slaves

#6 (permalink)

By Nfested on 05-01-2002, 12:01 PM

There are around 70 million baby-boomers who will retire in the near future, while there are about 46 million gen-xers. This leads to a lot of positions opening up. The future looks sanguine for jobseekers.

#7 (permalink)

By Digitalphatman on 05-01-2002, 12:19 PM

Quote:

Originally posted by Nfested
There are around 70 million baby-boomers who will retire in the near future, while there are about 46 million gen-xers. This leads to a lot of positions opening up. The future looks sanguine for jobseekers.

Yeah i guees you could look at it that way, but 70 million retirees to only 46million workers kinda bothers me.

#8 (permalink)

By Nfested on 05-01-2002, 12:24 PM

Not all the babyboomers are going to retire at the same time, and companies are preparing for it. But that is a huge gap, I think TIME magazine might have stretched the truth.

#9 (permalink)

By redwench on 05-01-2002, 12:38 PM

baby boomers were born from 46-64. i doubt whatever they used for genx covered that large of a span.

#10 (permalink)

By jrpm on 05-01-2002, 02:53 PM

If you are counting on Social Security for your retirement, worry. I am not sure about the exact number, but when SS was started, there was about a 10 to 1 ratio of workers to recipients.

I am a boomer. For those of you after me, again, if I am not having a senior moment, the ratio is supposed to go to 4 to 1. We as a people are living longer and we as citizens keep adding benefits to social security.

For you young whippersnappers, thanks in advance.

As to the overall job market, the issue (in all the other journals I am reading) is not just numbers, but skill sets. The majority of the Mainframers are expected to retire in about 5 years. How many of the whippersnappers know COBOL and MVS/TSO? COBOL will be hot, but will anybody be able to take the jobs?

The skills issue is the other factor. The jobs and money will always be there for the hot skills. But as those skills cool.........

I also suspect there is one other issue. I am reminded of (can't remember his name, maybe a senior moment) that had a shtick about the starving Ethiopians a few years ago. He pointed out that there was plenty of food and arable land about 100 miles away from where the people were having their problems. His advice, shouted at the top of his lungs, was GO WHERE THE FOOD IS.

One must be willing to go where the jobs are, even Wisconsin.

#11 (permalink)

By Kdr Kane on 05-01-2002, 04:05 PM

Quote:

Originally posted by redwench
baby boomers were born from 46-64. i doubt whatever they used for genx covered that large of a span.

hmm...

I was born in 1960. I've never felt that I was part of the baby-boomer generation. I think they are almost 10 years older than me.

#12 (permalink)

By Chako on 05-01-2002, 05:56 PM

Red is correct...the baby boomer generation did span from 1946 to 1964.

Generation X (my generation) was from 1966 to 1975.

Generation Y was from 1976 to 1981.

I haven't a clue what comes after that for a moniker.