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Friday 7th November 2014

Big data = big pay

The recession's certainly over in IT, where salaries are soaring, says report

Next time an IT person comes a-knocking at your door, chances are they won’t be asking to upgrade your browser. It’s much more likely that they’ll be asking for a pay rise.

The latest 2014 salary survey from Morgan McKinley, the global recruitment consultancy, shows that remuneration for those with good IT skills is rising significantly ahead of average UK salaries.

Supply is shrinking whilst demand is growing, the survey says. Expertise in areas such as cyber-security, big data, business intelligence and application development are all in high demand, as are people with skills in SMAC (social, mobile, analytics and cloud technology).

In addition, the vibrancy of the UK’s technology start-up scene, with significant growth hubs in London, Cambridge, Oxford and Manchester, is increasing the options for skilled developers.

Resourcing squeeze

At the supply end, there are not enough technologists with high-level skills to meet this growing demand. Added to which recent legislation that restricts the ability of UK companies to hire from outside the EU is adding to a squeeze on resourcing, and consequently salary inflation.

Since the financial crisis, many sectors have had to grapple with new financial regulation and IT people with experience in risk, regulation and compliance are in high demand.

‘This trend upwards of salaries for skilled IT professionals is one we believe will continue,’ says Cem Baris from Morgan McKinley. ‘Technologies are moving fast and companies are keen to ensure they take advantage of the new opportunities these offer while there are not enough STEM graduates coming into the workplace from UK universities to fill these opportunities. The result will be higher remuneration for those with the IT skills most in demand.’

All this is great for IT people, of course: less good for organisations with a growing in-house tech requirement and not a lot of money to spare.

So next time you call the helpline and they tell you to ‘try turning it off and turn it on again’, try not to grit your teeth too loudly.

About the author

Andrew Baird

Andrew is the CEO of HRville. He is also Employer Brand Director of Blackbridge Communications, Editorial Director of Professionals in Law and an associate of The Smarty Train. Previously, he was the MD of TCS Advertising.