EEE Survey: Salaries Drop for First Time in 31 Years — Yet they tell us they need more overseas workers and more visas. Apparently these are more jobs Americans don’t want.
According to a survey by the Institute of Electrical and Electronics Engineers published last month, salaries for engineers and IT professionals declined for the first time in 31 years.
A drop of 1.45 percent reduced average salaries to $99,500. The survey was conducted in late 2004 and covers annual compensation for calendar year 2003, using data from 12,584 respondents.
“These results are disturbing, but not surprising,” IEEE-USA President John Steadman said. “A host of factors, from offshoring and increased use of guest worker visas, to rising health insurance costs and global competition, are putting downward pressure on wages for U.S. high-tech workers.”
All of that moonlighting in the drive-through window of the local fast food joint is finally starting to drive the industry’s average salaries down.
That’s the bad news. The good news is they’ll be well-fed in the process.
Carmi
http://writteninc.blogspot.com
This little tidbit of data sort of flies in the face of all the corporate weasels who keep trying to convince their employees that outsourcing is good and will increase the number of jobs for Americans. The other interesting fact which we’re seeing is that salaries for Indian tech workers are rising fast. At some point the two market reference points will be equalized, at which time both countries will begin significant outsourcing to China, and so on…