A war for talent is underway in Silicon Valley, where the likes of Google and Facebook are vying for highly skilled workers.  The tech giants aren't the only ones looking to hire - and retain - good IT employees, however.  A couple recent salary and hiring surveys show signs of movement in the IT labor market.

Average compensation this year is 1.4 percent higher than last year, which is significant compared to the paltry 0.1 percent growth that was reported a year ago, according to ComputerWorld's "2011 Salary Survey."   Bonuses are on the rise too, while in 2010 they fell by 6.6 percent.  ComputerWorld also found that fewer people are mentioning layoffs, hiring freezes, budget cuts, salary cuts, canceled projects or other demons representative of a poor economy.

For CIOs specifically, the numbers appear a little better than for others in IT, with total compensation, including bonuses, rising 2.8 percent.  In contrast, chief security officers saw a 1.9 percent increase. 

On the downside, though, IT workers are feeling increased pressure, and fewer are satisfied with their jobs.  Sixty-six percent said they expect their workload to grow this year, and eighty-six percent said they've felt pressure to assume new assignments or boost their productivity.

Put together, the slightly rising salaries, growing pressure and lack of satisfaction likely mean that there could be considerable movement among IT workers in the months to come. 

These findings regarding compensation are consistent with recent hiring forecasts.  This quarter is projected to witness a net 7 percent hiring increase, according to the latest survey from Robert Half Technology. 

Eighty percent of the 1400 CIOs surveyed by Robert Half Technologies said they have confidence their companies will grow this quarter, and nearly half cited a high probability for IT investments.  None of the CIOs said they expected to reduce staff, and 17 percent said they planned to hire additional team members.

Do the survey findings resonate with you, or do they paint an unfamiliar picture?  Let me know. - Caron