November 15, 2021
Extra pay awarded by employers to talented tech professionals for 555 tech certifications---also known as cash pay premiums---increased in the third quarter of 2021, the first quarterly increase since July 2018. The current average pay premium for a single certification is the equivalent of 6.6 percent of base salary, up 0.4 percent from the prior quarter. Still, certifications have lost nearly 9 percent of market value on average over the past two years.
Meanwhile, pay premiums for 630 noncertified tech skills decreased slightly in the third calendar quarter of 2021, contributing to a 2.1 percent overall decline in the last twelve months and basically flat performance over the past two years.
This according to the latest quarterly update of Foote Partners’ IT Skills and Certifications Pay IndexTM (ITSCPI) based on compensation data provided by 3,866 private and public-sector employers in 83 U.S. and Canadian cities who partner with the firm to report pay for their 350,849 technology professionals in the U.S. and Canada.
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