New graduates and experienced job seekers alike in the fields of technology, project management, governmental contracting, and finance may encounter a change in how companies are willing to compensate them for their services. As the economy continues to face a downturn, businesses are faced with a dilemma in hiring for these positions.
JobFox gave the latest outlook for these professions with their latest May 2008 release of the "most wanted U.S. job candidates."
There is still an extremely high demand for these professional and highly skilled employees, but there are budget constraints and cutbacks that make it difficult to offset the demand for jobs. This has driven businesses to lower the salaries they offer for some of the hottest jobs on the market. But the demand for the employees is not declining.
Fortunately, for many of the companies, people realize that a declining economy also means that they must be willing to make concessions. Professionals are more willing to take a job for less money today than they were several months ago, just to get their foot in the door. They know that the economy will eventually be on an upswing, and they'll be gaining experience and making "good money" in the meantime.
Most salary decreases are around $10,000 for technology jobs, product management, network/systems administration, governmental contracting, and finance. These are high-profile jobs with high demand so salary adjustments are imminent when the economy strengthens. Employees who are able to look far enough into the future know that taking a job at a lower salary today is a smart bet for tomorrow.
The good thing is that these jobs are here to stay—in today's world of technology and global marketing, they are secure jobs.
Entering the market in any of these specialties is an open ticket for the future when the economy picks up.
Accepting a job today at $95,000 is a lot smarter than waiting for a job offer at $105,000 in 12 months.
You do the math!
Cheezhead author Joel Cheesman is one of the most widely read bloggers on emerging recruitment issues in the world. He was the recipient of Recruiting.com's Best Technology Recruitment Blog for 2005 and received Best Recruiting Blog in 2007. Joel's blog chronicles how the Internet and technology are shaping human resources and how organizations can attract the talent needed to thrive in tomorrow ' s economy.