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BC Tech Salary Trend Shows Optimism for Industry
Thursday, September 16, 2010Company Profile | Follow Company
Vancouver, BC, September 16, 2010--(T-Net)--Increases in salary adjustments for the tech industry in BC show a continued optimism for growth for this important industry in BC.
Average salary increases in the BC technology sector increased over last year, and are forecasted to increase again for 2011 according to the annual survey by the HR Tech Group in partnership with Towers Watson.
Companies surveyed showed an average technology wage increase in 2010 of 2.3 percent, compared with 1.9 percent in 2009. Further, the forecasted increase for 2011 is 3.1 percent, representing a 3-year progression in salary increases.
Good news for employees: salary freezes (where companies hold salaries flat) are also on the decline. In 2009, 67 percent of companies indicated that they were freezing some or all of their salaries. This year only 10 percent of companies have implemented salary freezes. Even better, only 3 percent of companies are planning any type of salary freeze for 2011. This data is current, having been collected in July and August.
While tech companies are providing salary increases, the survey also suggests that companies are focusing on more than just pay, as a key component to keeping their employees happy. Employee engagement and leadership development are identified as the top two key issues for human resources departments, with recruiting key talent a close third on the priority list.
“For a tech employee, it's not just about what they get paid. Employees are looking for exciting work opportunities, career growth and excellent leadership from the top”, says Allison Rutherford, Executive Director of the HR Tech Group. “Human Resources can assist companies with this in fostering a positive culture in the workplace, and developing succession plans and identifying training opportunities.”
In 2009 economic growth stalled, and some tech companies experienced staffing declines - the fact that recruiting key talent is appearing again in the top 3 priorities indicates companies are moving forward and need to engage talent to be successful.
Now in its 19th year, the 2010 High Tech Salary Survey is the leading salary survey for the BC tech industry - representing 72 tech companies in BC, reporting on more than 9,300 incumbents.
Almost half of the companies represent the Information Technology (IT) sector. The other sectors are the clean tech sector, the digital media and the wireless sectors. Demand continues for strong candidates in IT jobs. Starting annual salary for an Entry-level Software Engineer averaged $50,100 plus $3,500 bonus. For a Senior-Software Engineer the average was $85,800 base salary plus $8,900 bonus.
The digital media sector equally provides exciting career paths for employees. Jobs in this sector apply to companies working on video gaming, animation and visual effects, interactive marketing and e-learning. Based on experience, the report indicates that Intermediate Animators average $70,000 base salary, and Senior Animators average $85,600 base salary plus various incentive opportunities. The survey was expanded this year to accommodate for the growing types of positions in the digital media sector.
The 2010 High Tech Salary Survey is now available for sale. Members of the BCTIA and DigiBC receive a discount on the purchase price. For more information go to http://www.hrtechgroup.com/SalarySurvey/default.html
About the HR Tech Group
HR Tech Group is a professional forum for human resources professionals employed in the BC technology industry. The annual High Tech Salary Survey, conducted by the HR Tech Group in partnership with Towers Watson, is the de facto tech salary survey for HR professionals in BC. It represents data from over 70 mid to large tech BC companies and is available to non-member organizations and individuals to purchase. For more information visit www.hrtechgroup.com
Media Contact
Allison Rutherford
Executive Director
HR Tech Group
T: (604)874-2653
C:(778)229-5062
arutherford@hrtechgroup.com
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