Salaries for IT jobs in London have plummeted 2.3 percent over the last 12 months, according to a new survey.
The survey, by IT recruitment agency CV Screen, monitored over 35 job roles in London, from over 2,000 advertised IT positions in the quarter four, 2008 and found that the average IT salary in London is £37,707.
The recruiter also saw a 24 percent increase in London-based candidates registering on their database in comparison with the same period in 2007.
The survey's author Alex Lawson, CV Screen's account manager for London, said: "The fall in IT salaries in London was to be expected given the challenging economic climate."
"The increase in candidate availability will continue to put downward pressure on IT salaries in London over the next 12 months."
But there is some good news. Many London-based firms are looking for candidates with PHP, .Net and C# development skills, according to Lawson.
Lawson said: "The demand for IT staff is slowing at a much slower rate than other sectors, which is as a result of the critical nature that technology plays within every organisation. There is still demand and competition for quality candidates and we would expect the IT Jobs market in London to continue to be more resilient than other sectors in 2009."