Secrets of the Job Hunt


Monday, September 22, 2008

New York Jobs in the IT Industry Expected to be Okay

Recently things have been pretty tough on Wall Street as many New York jobs get cut. No one knows at this time exactly how many individuals will soon be out of jobs, but experts don't expect the area's IT sector to take a very big hit.

Despite the fact that layoffs will likely occur, Robert Half Technology's VP of strategic alliances, John Estes, says that the situation will balance itself out in the long run. Those who do stand to lose their IT jobs in New York aren't expected to have a difficult time finding new employment. The one problem he foresees is that it may be difficult to find comparable pay.

According to Estes, a good portion of head IT people at investment banks and financial services firms were making somewhere around $200,000 a year. These individuals may struggle to find a new place of employment that can offer as much.

"There's going to be more high-quality high-tech people on the street," said Estes. "A lot of these people are high-dollar folks, and they may not be quite as happy as they were before."

He went on to say that there could be "culture clashes" if these individuals leave New York City and take lower-paying jobs elsewhere.

Layoffs shouldn’t be too much of a concern for those who have a lot of experience in the field. "[But] if you’re really good in IT, you won’t be on the street for very long," said Estes.

To illustrate this, Estes mentioned the fact that many higher-ups in the IT industry lost their jobs when the technology bubble broke around eight years ago. These individuals were also able to quickly find new jobs.

Earlier in the month Robert Half Technology reported that, despite issue in the economy, there is still a strong demand for certain IT professionals. Infrastructure specialists, including help desk workers and technicians, and those who are experienced with Web 2.0 and in business intelligence are amongst those who employers nationwide are looking to hire.

No comments: