IT professionals see salaries rise
"We have seen an increase in demand for highly-skilled IT professionals in almost every sub-sector," said Cem Baris, associate director, Morgan McKinley IT. "Cyber-security (with dominant program requirements being Hadoop, Python and R), Big Data, Business Intelligence and Application Development are all in high demand. While two years ago, hirers were demanding skills as well as corporate experience, now we see a focus on skills irrespective of age and track record."
There is increasing demand for those with skills in SMAC (social, mobile, analytics and cloud technology) as established firms in all sectors scramble to take advantage of opportunities in big data analytics, cloud applications and mobile.
The Big Four (Deloitte, PwC, EY and KPMG) have seen their consultancy businesses grow by 16 per cent in the last 12 months, with the bulk of that growth in technology-related fields.
In addition, the vibrancy of the UK's technology start-up scene, with significant growth hubs in London, Cambridge, Oxford and Manchester, is growing the market for skilled developers. Not only are entrepreneurs increasing the demand for IT skills, but also the supporting eco-system of venture capitalists, private equity houses, financial advisers and bankers that support the start-up community.
At the supply end, there are not enough technologists with high-level skills to meet this growing demand, added to which recent new legislation that restricts the ability of UK companies to hire from outside the EU, is adding to a squeeze on resourcing, leading to salary inflation.
Since the financial crisis, many sectors have had to grapple with new financial regulation and those 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," said Cem Baris. "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 fulfil these opportunities. The result will be higher remuneration for those with the IT skills most in demand."
To view the full IT Salary Guide visit: http://www.morganmckinley.co.uk/article/technology-2014-salary-survey
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