IT Salaries: Tips for Negotiations During Economic Downturn

Even the face of an economic slowdown, salary negotiations and renegotiations are a crucial process to determine your future.  For salaries in the information technology field, there is more flexibility than you think, even in a difficult economy.  Getting the most out of negotiating IT salaries is just a matter of being prepared and specific.

Know your value.  
It is very important to enter any salary negotiation with a clear idea of your worth, and this can be difficult for IT professionals because titles don’t always indicate skill sets.  So be sure to check out a Salary Calculator or a Relocation/Comparison Tool to determine what you can expect.  Because most IT positions are more skills-based, however, their salaries can vary; document your IT-related accomplishments and skills, and use them to demonstrate the value you bring to the company. 

Know IT salary trends. 
Information technology professionals are in a unique position in that their salaries continue to rise steadily in the face of economic worries.  According to recent salary reports such as Computer Metrics’ 2008 IT Salary Report, IT workers can expect a pay raise of nearly 4 percent this year, in line with recent trends and in spite of a slowing economy.  Moreover, IT workers with specific skills, such as project management, networking and people management, are especially in demand and can therefore demand higher salaries.  The reason for these encouraging trends is the continued growth of web-based and database-centric business operations, as well as expanded networking.  While overall increases in salaries could be restrained because of economic concerns, the trend in IT salaries will continue to be positive, which is important to be aware of when beginning your salary negotiations. 

Use specifics.  
Provide details about the salary range you desire, either when first providing salary or when discussing a job offer.  For instance, providing a narrower range might result in a more focused response from the employer.  Additionally, starting by offering specific suggestions displays a sense of confidence that will certainly make an impact on the employer and get your IT negotiation off to a good start.

Be realistic.

Keep in mind when starting your negotiations that the volatility of the current economic situation can have some effect on all industries.  It’s important to understand that in spite of IT’s continuous high demand, some salaries in the field may not grow to reflect that demand.  Don’t allow this to discourage your efforts, however; the work and research you put in now can plant the seeds for growth as the economic climate improves.

All in all, your IT salary negotiation can bring about positive results for you, if you are well prepared with a specific idea of what to expect.  Having the confidence of a good starting point can make a great impression and definitely work to your advantage.  This starting point, along with an understanding of the realities of the current market can ensure a positive salary negotiation and continued success as the market improves.