Hiring remains strong in South Florida's technology industry, with 91 percent of workers saying they would entertain a new job opportunity.
And why not, when it results in a big salary increase?
Fifty-eight percent cited higher compensation as the top reason for jumping ship, according to a February survey of 1,572 IT workers and 100 IT managers in South Florida. Other major reasons were work-life balance, company culture and lack of career path.
"The ones who job hop are getting paid the big dollars," said Deborah Vazquez, CEO of ProTech Staffing, an IT staffing firm in Fort Lauderdale that conducts the annual survey of technology professionals.
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Workers taking new jobs have seen 16 percent to 20 percent bumps in pay. "Some software engineers with high-demand skills were getting $20,000 more for making a move," Vazquez said.
But those kind of pay hikes are happening less now as growth has begun to slow, she said.
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Only 45 percent said they plan to increase their workforce in 2019 compared with 69 percent in 2018, according to the survey. Four percent said they might decrease staff, compared with none last year.
Still, compared to many weaker industries, technology continues to pay top dollar.
IT professionals in demand include business analysts, software engineers, test engineers and any positions in IT security, Vazquez said. Median IT salaries in South Florida range from $72,000 to $128,000 a year, according to the survey.
The data shows that employer loyalty isn't necessarily rewarded. Salary increases slowed to an average of only 1 percent in 2018, according to the survey. In previous years, IT workers in South Florida were getting 4 percent to 6 percent increases, Vazquez said.
The best perk offered by an employer remained flextime/telecommuting at 39 percent, followed by additional vacation or open paid time off at 16 percent, according to IT workers surveyed.
In ProTech's survey of IT managers, 78 percent said they're worried about losing workers in this hotly competitive market. That's an increase from 54 percent in 2018 who had those concerns.
For the complete survey, go to protechitjobs.com/2019.