IT Certifications Pay Surges In 2Q 2024, Setting A New Mark Last Seen In 2006
Foote Partners, Monday, August 19th, 2024
The gap in average cash pay premiums between certified and non-certified IT skills is now at its widest point in 24 years according to new tech compensation survey research published by Foote Partners.
The current average cash pay premium bonus for a single noncertified skill is the equivalent of 9.6 percent of base salary compared to that of an IT certification with is earning a 6.5 percent of salary equivalent.
These findings are from the latest quarterly update of Foote Partners' IT Skills and Certifications Pay Index(ITSCPI) based on quarterly compensation data updates provided by 4,435 private and public-sector employers in 83 U.S. and Canadian cities who partner with the firm to report pay for their 434,641 technology professionals in the U.S. and Canada.
Notes David Foote, chief analyst and research officer at Foote Partners, 'Whether it's additional pay for a salaried professional, a part-time worker, a consultant or contingent labor, the use of cash pay premiums for individual certified and non-certified skills is more popular than ever. Employers are coping with highly volatile market conditions. Without agility and flexibility in compensation practices it is nearly impossible for them to hire and retain the talent that's necessary to execute on shifting business initiative. Skills pay does this perfectly when it comes to managing their tech workforces.'