Tuesday, May 28, 2024

IT Skills, Pay Premiums Drop in Value: Foote Report

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eWeek: A new report from researchers at Foote Partners finds that the average pay for both non-certified and certified IT skills tracked by the company dropped between April and June. The 265 non-certified skills examined dropped an average of just 0.2 percent. However, certified skills dropped 2 percent, the 18th time in the last 19 quarters that IT certifications have become less valuable.

“The difference this quarter over last is that several economic indicators are now telling us that the economic recovery has deteriorated. Prices are rising for many goods and services, consumer confidence is low, and the unemployment rate is not improving. There are fears of a double dip recession, a plummeting stock market, and riots in the streets of Europe,” said Foote Partners co-founder and CEO David Foote. “This will of course influence staffing and workforce decisions going forward, but the question is how much? The drivers for skills and talent acquisition in evidence today are more unique and compelling than prior downturns, and they won’t easily crumble under pressure.”

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