Q TIPS:
Quick and Quintessential Career & Job Tips
Job-hunting tips from the May 26, 2003 issue of
QuintZine.
From a research study on IT salaries conducted by Brainbench:
Salary increases continued to be under pressure from larger
economic forces in the technology sector in 2002 with 67 percent
of respondents indicating they received increases of 3 percent
or less.
Women lost significant ground on the salary front in the
technology sector in 2002. The percentage of women earning the
same as men fell significantly in virtually every salary category
above $40,000 in 2002. (In 2001, women achieved virtual salary
parity in most categories.)
Expectations for salary increase this year have been radically
altered by recent economic events. Forty-two percent
of those responding say that expect increases of between 0-3 percent
this year, and only 30 percent say they expect an increase of 3 percent
to 5 percent.
Professional certifications are bankable assets for IT professionals,
with those receiving certifications significantly more likely to
achieve salary increases above the industry average of 1 percent to
3 percent. Watch for an article in the Aug. 18 QuintZine on
certifications.
Seven of the 10 top-paying jobs are in the medical field, but people just outside the top 10 are employed in much more varied
fields, offering more options to those looking to use a top-10 list to find work in a fortune-building profession. According to
the 2001 Occupational Employment Statistics Survey conducted by
the Department of Labor's Bureau of Labor Statistics (BLS), the top 11 to 20 highest-paying professions in the U.S. are:
11. Podiatrists $45.43/hr $94,500/yr
12. Lawyers $44.19/hr $91,920/yr
13. Optometrists $42.35/hr $88,100/yr
14. Computer and information systems managers $40.33/hr $83,890/yr
15. Physicists $40.26/hr $83,750/yr
16. Air traffic controllers $40.07/hr $83,350/yr
17. Petroleum engineers $39.33/hr $81,800/yr
18. Nuclear engineers $38.56/hr $80,200/yr
19. Judges, magistrate judges, and magistrates $38.24/hr $79,540/yr
20. Marketing managers $37.70/hr $78,410/yr
Figures reflect mean hourly pay projected out to a year-round, full-time annual average.
According to a recent survey conducted by The Conference Board, average salary increases in many industries (such as manufacturing,
trade, and utilities) have dropped below 4 percent for the first time in nine years for some major employee groups. Estimates for 2003
indicate average pay increases will be 4 percent for all employee groups in all industry categories. Meanwhile, Time Magazine reports that
large companies, such as AT&T, Boise Cascade, and Starwood Hotels
are freezing salaries, which means that, with inflation factored in, compensation is actually reduced. "To add insult to injury," Time Magainze
reports, "companies everywhere are reducing bonuses and overtime and eroding health and pension benefits."
Time Magazine reports that more companies are offering such
perks as on-site massages and hair salons, take-home meals and pet health insurance, according to surveys by employee-benefits
consultants. But there's a catch. Most of the new benefits are paid for by workers, the people being asked to do more work for
the same -- or lower -- pay. "Companies are adding 'soft' benefits that save employees time as opposed to 'hard' benefits
that cost employers money," says John Challenger, who heads an executive-outplacement firm based in Chicago. The bottom line
is greater employee-retention rates.
From a research study on IT salaries conducted by Brainbench:
