IT execs see salaries slide

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IT executives have faced a four per cent decline in average salary since October 2008, according to figures released by Experteer.co.uk.

However, this was in stark contrast to senior executives within the public, financial and consultancy industries, who all experienced average salary increases of 3.25 per cent.

“Ambitious IT executives facing a fall in reward for their next step on the career ladder should consider whether their experience might be relevant to other industries in which salaries continue to rise, such as consulting and financial services,” said Torsten Muth, managing director for Experteer.

“Senior executives should not be discouraged by gloomy market conditions. Our research shows that wage inflation by role continues in most sectors despite wide-spread pay and promotion freezes for individuals," said Muth.

He added: “Those willing to embrace the risk inherent in moving jobs should not undersell themselves and ensure they are appropriately rewarded.”

Prior to the news of a four per cent decline in salaries this week, the Trade Union Congress in May 2009, reported that IT workers were underpaid and over worked, with 33.8 per cent of UK workers experiencing unpaid overtime — highlighting a growing problem within the IT sector.

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