168 IT Certifications & Skills That Lost 10%+ In Cash Market Value Since April
Foote Partner, Thursday, August 17,2023
This news release is a summary extract of content from the 3rd Quarter 2023 editions Foote Partners' 2023 IT Skills Demand and Pay Trends Report and 2023 IT Skills and Certification Pay Volatility Index
The biggest surprise in this quarter's tech compensation findings is the volatility in pay for IT skills and certifications measured in our IT Skills and Certifications Pay Volatility IndexTM, defined as incidence of gains/declines over a period of time in cash pay premiums earned by IT professionals for specific IT skills. This quarter registered the highest volatility in three years, nearly 30 percent higher than the prior Q1 2023 findings, with non-certified IT skills leading IT certifications in this trend.
In the second quarter of 2023, average market value for 682 non-certified IT skills declined a slight 0.2 percent overall, with a whopping 220 skills changing in value compared to just 164 in the prior quarter. 110 lost value while 110 gained value compared to just 93 and 71, respectively, in the first quarter. Those groups losing the most market values included SAP/Enterprise Business Apps, Systems/Networking
For 614 IT certifications, average market value also declined overall in the second quarter(by 1 percent), led by losses in Networking & Communications and Data/Database certification categories. 144 certifications changed value compared to only 119 in the prior quarter, with 95 declining and only 49 gaining market value.