In the face of nearly flat salaries, New York technology professionals are the most dissatisfied with their payouts in the country, according to the 2010-2009 Annual Salary Survey from Dice, the leading career site for technology and engineering professionals.
At an average pay of $86,710, more than four in ten (42%) New York technology professionals are dissatisfied tying their local colleagues who are satisfied. This finding is in sharp contrast to Washington D.C. where just 29 percent of technology professionals are dissatisfied with their salaries and 57 percent are satisfied.
Further, New Yorktechnology professionals were disappointed with efforts by employers to keep them motivated via non-compensation related incentives during the recession. Close to half (48%) say their employers are doing nothing to keep them motivated; just 20 percent are being offered more interesting or challenging assignments, and 13 percent are benefitting from more flexible work hours.
“Today, New York has more available technology jobs than at this time last year. This is an improving market and technology professionals should start listening to opportunities outside their company and be prepared to move,” said Tom Silver, Senior Vice President, North America at Dice. “HR and technology managers need to focus on why people should stay instead of why they can’t leave. If not, retention will become impossible.”
Technology workers in finance and banking are the best paid in the region averaging $106,344, followed by those toiling for utilities ($98,452), internet services ($91,185) and entertainment/media ($89,473).
New York-based technology consultants report average income 20 percent higher ($104,302) than the average salary. Further, their average contract base rate is $63 per hour with a high of $240 per hour.
Dice Salary Survey: Methodology
The Dice Salary Survey was administered online with 16,908 registered Dice job seekers and visitors responding between August 24 and November 12, 2009, including 1,476 New York-based technology professionals. Respondents were invited to participate in the survey through a notification on the Dice home page, and registered job seekers were sent an email invitation. A cookie methodology was used to ensure that there was no duplication of responses between or within the various sample groups, and duplicate responses from a single email address were removed.