Lincolnshire, Ill., Aug. 9, 2000 These days, many information technologies (IT) professionals are not only seeing their salaries skyrocket on an annual basis, but they are now receiving unprecedented flexibility from their employers as well, according to the new Hewitt Associates 2000 U.S. HOT Technologies Survey.
Hewitt Associates, a global management consulting firm, recently surveyed 216 large companies, reporting data on 38,465 IT employees with “hot” skills (skills in short supply, high demand and experiencing rapid changes in market value). This study found that IT professionals with the hottest skills often are averaging base pay increases of more than 10 percent per year, compared to national average annual increases of approximately 4 percent for non-IT salaried exempt U.S. employees.
On top of base pay, these IT professionals are garnering additional compensation through a variety of bonus structures and stock options. While bonuses are holding steady from last year to this year, with 66 percent of hot skills employees receiving a bonus of some type, the percentage of stock options granted has increased to 13 percent from last year's mark of 10 percent. However, only 1 percent of IT workers are now receiving stock grants, down from 7 percent in 1999, which can be attributed to the completion of Y2K projects.
"This study shows that while hot skills compensation is still growing, it is doing so at a slower rate than we've seen in years past," said Faye Lott, a Hewitt Associates IT compensation consultant. "However, there continues to be rapid pay movements for skills with the highest demand, which is a trend that should continue well into the future."
For more information about the survey, please visit www.hewitt.com.
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