Results of the 2008 Australian Computer Society Remuneration Survey show a 4.9 percent increase in the salaries of ICT professionals over the past 12 months to May 2008.

According to the survey, employees in the ICT universe can expect an average 5 percent increase over the coming year, but the global financial crisis has raised concerns among some industry players about what to expect for the future.

The survey revealed a record 5.1 percent salary hike for those employed in the private sector (0.5 percent up on the 2007 results). Public sector remuneration increased by 4.1 percent, while those in the education sector averaged a more modest 3.6 percent increase in salary.

Conducted for the Australian Computer Society (ACS) by the Association of Professional Engineers, Scientists and Managers, Australia, the survey also showed that technology professionals in possession of scarce skills enjoyed salary increases of between 10 and 15 percent.

No indications of decline in the ICT market
ACS chairman, Kumar Parakala, said that there were no indications that the ICT market was slowing down. He predicted that recruitment in the government and technology sectors would compensate for the marginal decline in hiring of Australians by multinational organisations.

Parakala also pointed out that an overall salary increase of 5 percent in the next 12 months was a reasonable expectation considering that the Consumer Price Index was roughly 4.2 percent.

Salaries will continue to rise for IT professionals
3W CEO Bruce Mills explained that whereas IT projects were previously seen as easy targets for cost cuts, they are now viewed as key survival tools for economic slowdowns. IT professionals, especially those with scarce skills, would continue to be well paid, despite the growing caution among boards and management teams to curb wholesale salary increases.