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HR Tech Group: BC Tech Salaries Increase Over Last Year Showing Continued Growth for the Industry
Wednesday, September 14, 2011Company Profile | Follow Company
Vancouver, BC, September 14, 2011--(T-Net)--More BC tech companies provided salary increases to their employees in 2011 than a year earlier, demonstrating the continued growth and optimism of the BC tech industry.
Today HR Tech Group released its 20th High Tech Salary Survey, the leading tech salary survey for BC, which showed an average technology wage increase in 2011 of 2.8%, compared with 2.3% last year, and only 1.9% in 2009. Executives also experienced increases over last year, with the average executive increase at 2.2% compared with 1.7% last year.
The HR Tech Group reported that fewer companies are implementing a salary freeze - by far the majority are choosing to provide annual salary increases. The forecast for next year is that just 7% of companies participating are considering a salary freeze.
Almost half of the companies in the survey represent the Information Technology (IT) sector, with other data coming from the digital media, clean tech, wireless and other tech companies. Entry level wages for a Software Systems Engineer are $50,300; with a Fully Competent Software Systems Engineer (minimum 3-5 years experience) earning $75,000.
In addition, HR Tech Group reported that tech workers received larger bonuses this year, perhaps indicating that business growth and results have improved over last year. The average bonus amount received in 2011 was 10.8% (compared with 8.8% in 2010). For those individuals who receive a bonus based on a percentage of base pay, this year they received 86% of their target bonus (an increase of the average of 69% of target received last year).
“It's great to see companies rewarding employees when business results support it”, says Allison Rutherford, Executive Director of the HR Tech Group. “For some employees, instead of the $5,000 bonus they might have received last year, this year it's up a bit to $7,000”.
In response to the continued successes of BC tech companies, the HR Tech Group will be presenting the Human Capital Symposium on Wed. Oct 26th, 2011 at The Sutton Place Hotel. This year's theme is “Refocusing for Growth”, with sessions offered on growing your revenue, growing your team, growing your leaders and growing your business toolkit. Special keynote presentations by Don Bell, Co-Founder of WestJet: “Build an Optimal Environment for Growth”; as well as an executive panel facilitated by Bill Tam, President & CEO of BCTIA: “What can HR do to Drive Business Growth?”. For more information go to www.hrtechgroup.com
The survey also reviewed the top HR priorities for BC tech companies. Employee engagement has dramatically increased to the top position - indicating that companies need to focus on retention and keeping their tech talent. As the economy continues to recover, companies don't want to lose their employees to the competition.
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 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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Tech and People Network (TAP Network)
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