With demand for skilled technology professionals now exceeding supply, in a bid to retain their top talent employers will be awarding average salary increases of 3-4 per cent through 2011 and 2012.
This is one of the key findings of Michael Page International’s latest technology Salary & Employment Forecast. According to the report, employment opportunities for technology professionals are likely to remain buoyant over the next 12 months, with particularly high demand for project managers and IT managers within the banking and finance sectors to manage core business data systems.
Senior business analysts in the retail banking, insurance and superannuation sectors will also be in strong demand as providers streamline business applications and customer databases. As companies in the commerce and industry sectors shift toward Microsoft platforms to develop web-based applications, there will also be strong demand for .NET developers. According to the report, such professionals can expect salary increases of up to 10 per cent.
The report does not factor in the recent economic chaos in the United States and Europe and its possible impact on the Australian economy. It does, however, note that an increase in hiring activity over the next 12 months is dependent on the local economy continuing to strengthen.
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