The average IT hourly pay rate dropped during the past quarter to $29.81, but in New York and the Pacific Northwest, the rate remained above $55/hour, reports Meridith Levinson at CIO magazine.   

In the first two quarters this year the average rate rose, but wage capitulation--or the willingness to take low pay because you don't believe a better offer will come soon--drove the rate down again, analysts said. The figures, which are based on temporary workers' pay, come from Yoh's Index of Technology Wages. A second reason for the decline in pay, according to analysts, is that companies needed fewer high-level IT workers in the third quarter because they were focusing on maintenance projects that required less-skilled staff.

You probably can't bank on tech wages remaining this low, however. Analysts predict that companies will soon turn their sights to new strategic, profit-generating projects, increasing the demand for more highly skilled labor.

For more:
- see Meredith Levinson's article at CIO magazine

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