88% of IT Workers Stressed About Pay
Posted on November 1, 2004An IDG Computerworld salary survey has found that IT workers are increasingly concerned about minuscule salary increases. The 18th Annual Salary Survey, which polled nearly 10,000 IT workers, found that in 2004 salaries continue to be impacted by economic pressures. For the third year in a row, IT workers received modest pay increases, up only 3% as opposed to the national labor statistics, which report 4% compensation increases for U.S. workers since 2003. The majority of respondents (65%) reported an increase in base salary from a year ago, but 35% either did not report a change in salary or had to take a pay cut. The percentage of respondents reporting that they are feeling stress at work due to budget cuts and increased workloads is at an all time high at 88% and a quarter of IT workers say they are dissatisfied with their pay when considering all their job responsibilities. More than 27% of survey respondents reported increased use of offshore outsourcing at their companies in the past year.