High-Tech Demand Drives Up Salaries

October 5, 2016

Technology has become a driving force across all industries, making the need for IT talent at an all-time high.  As companies work to fill high tech positions, they are faced with the challenge of offering the right compensation packages to entice these individuals or risk losing them to competitors. That’s why we’re seeing companies up the ante and boost salaries as a way to draw-in IT candidates with the right tech minds and experience.

A recent Wall Street Journal article tells how one well-known company found out that investing in tech talent has become a necessity.  In 2012, GE was not interested in paying high dollars to attract engineers to their new software division.  As a result, they were losing tech talent to Apple, Inc. and Cisco Systems, Inc.  Today, four years later, GE’s thinking has changed. They now offer base pay bonuses and equity to software talent to compete with Silicon Valley companies such as Facebook and Google.

There are a variety of high-demand IT positions that are driving up salaries and compensation.  Based on surveys these are the top 8 (salaries are national median incomes): Network Security/Cybersecurity Analyst $103,677, Senior Software Engineer $97,355, IT Project Manager $84,118, Software Engineer $81,397, IT Consultant $75,009, Software Developer $70,173, Network Engineer $69,956, and Systems Administrator $60,905.

However, with the high-demand for tech talent, Software Developers can earn top dollar, even more than the national median income, just out of college.  In fact, according to the Boston Globe, recent software college grads can earn around $90,000 in Massachusetts. Other hotbeds for IT job growth and high salaries are: California, Texas, Florida, New York, and most recently, Colorado.  In addition, these same candidates are also getting as many as 20 recruiting phone calls a day and the promise of a 20-25% bump in salary.

While the need for IT talent is at an all-time high, there’s a real shortage of qualified IT staff in all industries. Colleges and universities have stepped up and started diversifying their technology degrees to include more specialized fields, but it isn’t an instant fix by any means. And since many CIO’s intend to expand their technology plans in Q4 of 2016 and throughout 2017, we will continue to see lucrative salaries for IT professionals.

Internet of Things (IoT) & The Talent Rush

April 15, 2016

Internet of Things (IOT) is emerging as the next technology mega-trend across the entire business spectrum. The IoT is the network of physical objects or “things” embedded with electronics, software, sensors and network connectivity, which enables these objects to collect and exchange data. While IoT has been in the industry for several years, we will witness more things being connected to the Internet every day. According to Gartner, the IoT installed base will grow to 26 billion units by 2020.

The wide range of IoT uses will be sold into various markets such as medical device, factory automation sensors, industrial robotics, sensor motes for increased agricultural yield, automotive sensors, and infrastructure integrity monitoring systems for diverse areas, such as road and railway transportation, water distribution and electrical transmission.

With the IoT revolution, the demand for new positions and skills required to build the IoT is skyrocketing. The rush for talent includes a high demand for software developers, software engineers, hardware engineers, solutions architects, cloud architects, integration architects, information security analysts, computer systems engineers, cloud and product engineers, and commercial and industrial designers.

In addition, exactly what skills are needed? Hiring managers for IoT positions are looking for excellent communication skills, creativity, big data knowledge, security knowledge, artificial intelligence knowledge, and the ability to collaborate with people in different industries.

With the increasing Internet of Things technologies and jobs, there are also new ways for students or professionals to gain the skillsets needed for IoT industries.  Select universities such as the Global University of Engineering, Santa Clara, California has bachelor’s degree programs in IoT and UC Berkeley and Carnegie Mellon University have introduced Master’s programs related to data science.  Additionally, MIT offers an online IoT course and University of Wisconsin-Madison has an Internet of Things Lab dedicated to students in order to learn, research, and experiment with IoT technologies.

Not only are there opportunities for students to become IoT proficient, but companies are also finding ways to keep employees trained and up to speed with the Internet of Things.  General Electric, for example, opened a software center in 2011 to train data specialist to consult on company Internet project and Cisco is revising its IT and OT training in light of IoT.

The Internet of Things has been called the next Industrial Revolution. Businesses will be the top adopter of IoT solutions with 95% of CEO’s saying that their organizations will be involved in IoT someway over the next 3 years.  Such rapid adoption and growth requires the right talent with the right skill sets. Therefore, the talent rush is on.