Survey reveals ICT salary increases’ deceleration
Although all salaries in the local ICT sector have risen since last year, the increases are either in line with or less than inflation. There is also a deceleration in salary increases during the economic crisis when compared to what was happening in...
Although all salaries in the local ICT sector have risen since last year, the increases are either in line with or less than inflation. There is also a deceleration in salary increases during the economic crisis when compared to what was happening in the pre-crisis period.
These are the findings of the 2010 Castille Resources Salary Index.
Every year Castille Resources map the local ICT sectors salaries and compare it to the previous years and a base line, which was set at 100 in late 2008. The recent research is based on 744 positions surveyed in the Castille Resources Salary Survey and gives insight into salary trends in the key roles within the sector.
The Castille Senior Software Developer Index is at 106.68, the Castille Junior Software Developer Index is at 104.14, the Castille 2nd Line Technical Support Index is at 100.44, while the Castille Senior Systems Administrator Index is at 105.79.
The areas which have seen the biggest salary increases are those that the report also found to have skills shortages. This comes back to the age-old model of supply and demand. If commodities are in short supply a higher price can be demanded for them.
James Bonello, managing director of local software development company Crimsonwing, reacted to the survey findings: “I believe this is due to the current economic climate, coupled with the availability of resources. It is a combination of these factors that have mitigated the salary increases.”
He also shared the same experience on the skills shortage.
“Yes we would agree that there is a shortage of high level and high skilled roles, although, within Crimsonwing, we offer career paths and as much as possible our first option is to promote internally.”
Asked whether he thought Malta’s ICT sector will see an increase in salaries over the next year, he agreed in part. “For juniors and recently graduated individuals, we don’t think the salaries will increase significantly, however this might not be the case when it comes to the highly specialised senior roles”.
The survey’s findings indicate that only 28 per cent of companies thought salaries would increase over the next two quarters.
Castille Resources will be running its 2011 survey at the end of the year, when the Castille Resources Salary Index will be updated. This will enable a review of ICT salary fluctuations throughout this year and offer further insight into the local ICT job market trends.
www.castilleresources.com
Ms Hughes is brand manager at Castille Resources Ltd.