PRESS RELEASES

In the news release at this link is a summary of the 2Q 2024 quarterly edition of Foote Partners’ IT Skills Demand and Pay Trends Report (ITSDPT) and IT Skills and Certifications Pay Volatility Index featuring analysis of cash pay premiums trend data for 1,342 certified and noncertified IT skills shared by 4,435 employers between January 1, 2024 and July1, 2024 about their 434,641 tech professionals.

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.

710 noncertified IT skills reported also increased in 2Q 2024, by 0.7 percent, with only 160 skills changing in market value over these three months compared to 240 in the prior quarter. 95 gained value while 71 lost value in the second quarter compared to 110 and 130, respectively, in the prior quarter. Five categories recorded gains, including Management, Methodology & Process, Web/Ecommerce Development, and Operating Systems skills.

Meanwhile, volatility in cash pay premiums for IT skills and certifications spiked downward to its lowest level since 2019, with 21 percent (208 of 1,340) changing in market value versus 30.5 percent in the prior quarter. A much lower level of change in pay for shared equally by both certified and noncertified skills were responsible for this decrease.