Invisible hand' again pays premium in favour of talents, this time technical support staff. Quoted HR Columnists, CTgoodjobs, 7 February 2013.
'No doubt cloud computing will pose threats towards local IT job market in a longer term, I don't envisage imminent impact toward IT employment, cloud computing raises IT staff demand instead,' commented by InfoTech, 'the market is not fully acquainted with cloud technologies, there are issues associated with cloud usage and services, there are many potential cloud application areas, experienced cloud computing experts are really hot at the moment.' Quoted Volume 54, IT Pro Magazine, September 2011.
Hong Kong IT job market is again catching up with hot skills e.g. development expertise using Java EE and iPhone App, etc. Staff and skill shortage is apparently prominent in the middle and junior post market segments. 'IT technologies are always evolving , technologies are very often being swiftly applied and used these days, only some of us are able to really grasp new technologies in time, rewards for such innovation will inevitably and naturally be augmented. As a matter of fact, IT pay level has surged in the past few quarters, job seekers invariably are asking for a more than 10% salary increment. Staff shortage is exacerbated by the shortfall of IT graduates, perhaps due to the reduction of government/UGC funding towards computing related programmes, offered by local universities since the 'burst of the dot com bubbles'. Computerization pace in general has never been slowed down over the same period.' commented by InfoTech. Quoted Career Resources IT & Telecom, CTgoodjobs, 7 June 2011.
Increase in salaries is on average higher than that of the CPI
- Chinese only
From InfoTech's point of view, "The increase rate in IT salary levels is higher on average than that of the Consumer Price Index......Employees are generally anticipating a further rise in prices, so it is not unusual for them to demand salaries covering the price-increase element." Quoted Market Review, Career Times, 11 July 2008.
Still an employee's market
- Chinese only
"Employment opportunities have grown at a healthy rate for the three months ending September 2007... It is probably the best third quarter since the dot com bubble. IT vacancies are literally coming from all trades and industries, though the banking and finance sectors remain dominant", according to InfoTech. Quoted Market Update, Classified Post, 13 October 2006.
Growth generated by strong internal demand
Edwin Tam considered the "growth in the IT (job) market has been generated by strong internal demand. Hong Kong is definitely playing a leading role in the computerisation of the banking and finance sector and is much further ahead of Mumbai and Singapore". Quoted Market Update, Classified Post, 13 October 2006.
Vacancies at all levels and across all market segments
"There are vacancies at all levels and across all market segments," said Edwin Tam. He said top IT executives were being offered multi-million dollar packages, which was indicative of how buoyant the market was. Quoted Career News, Modern Workplace, Classified Post, 29 July 2006.
The IT industry is experiencing a rebound
Edwin Tam was confident that the industry was on the right track. "The IT industry is experiencing a rebound. There are more jobs available at the moment. The demand is usually associated with the banking, investment and wealth management sectors, and we are getting a noticeable increase in activities in the retail sector as well," he said. "Salaries have been recovering across the board in a sustained manner since the last quarter of 2004. Job seekers can generally expect a salary increase of more than 10 per cent when changing jobs." Quoted Career Information, Classified Post, 7 October 2005.
Positive impact on the sector's general pay level
According to InfoTech, "The recent boost in the rate of employment is now having a positive impact on the sector's general pay level." Quoted Market Review, Career Times, 14 January 2005.
Salaries, however, at least in the short term, are not likely to rise significantly
InfoTech remains upbeat. "The current figures reflect the fact that some less critical IT projects were extended from 2002 into 2003 beyond the original target completion dates," he explains. "After that, with the sluggish economy, the major new projects were primarily public sector outsourcing initiatives like the IT Professional Service Agreement (ITPSA). There is no doubt the rebound in the economy will contribute to a more positive mood within the sector and a higher rate of employment." Most IT professionals with popular skill sets can now find jobs within a couple of weeks rather than the several months it has previously been taking. Salaries, however, at least in the short term, are not likely to rise significantly. Quoted Market Review, Career Times, 8 October 2004.
Optimistic about the IT job market in the coming months
The unemployment rate has continuously been reduced in the IT sector, according to InfoTech director, Edwin Tam. "I remain optimistic about the IT job market in the coming months," he says. This is in contrast to 2002 and 2003 when, according to Mr Tam, demand primarily came from large corporations and the Government regarding large-scale projects. "Demand for IT staff from various sectors, including SMEs, has increased steadily in the past few months," he notes. Today, hot IT job categories include SAP R/3 functional consultants, OS/390, z/OS and CICS application and systems programmers and Cisco Certified Network Professionals with hands-on enterprise network configuration experience. Quoted Market Review, Career Times, 9 July 2004.
Edwin Tam, director of InfoTech Services (Hong Kong), said the CEPA (Closer Economic Partnership Arrangement), Hong Kong Government projects and the overall prosperity of the Pearl River Delta was creating demand for specialist Oracle E-Business Suite 11i and JDE consultants. Mr Tam said that in the coming months he expected to see demand for Windows Server 2003 technical support staff and MCSE(Microsoft Certified Systems Engineer)s as companies invested and upgraded from earlier Windows Server platforms. He predicted there would also be job opportunities for people with VoIP and Wireless skills. He said that although IT salary levels were a long way off what they were in 2000, in general they were recovering. Programmers with no experience to three years' experience can expect to receive between $10,000 and $18,000. Systems analysts with about five years' experience can earn from $25,000 to $31,000, while a director/manager with at least 10 years' experience can expect to receive between $42,000 and $113,000. Quoted Engineering & Technology, Classified Post, 15 May 2004.
A continuous rebound since the fourth quarter of 2003
"The job market has experienced a steady recovery in the first quarter of 2004. This has been a continuous rebound since the fourth quarter of 2003, which contrasts with the consistent downward trend after the dotcom bubble of 2001," notes Edwin Tam, director, InfoTech. "The number of vacancies and the levels of pay are both increasing. Quoted Market Review, Career Times, 16 April 2004.
Companies are leaving out the restraints formerly imposed on permanent head-counts
"It's quite good at the moment," explains Edwin Tam, director, InfoTech. "The increase is mainly from end-users. Some companies are leaving out the restraints [formerly] being imposed on permanent head-counts." Helped by "quite good" IT sector conditions and the current rise in stock prices in the United States, Mr Tam notes that the vendor side outlook remains optimistic. "Sooner or later, this may have a positive impact on the IT sector in Hong Kong, [and positions] such as computer vendors or systems integrators." Quoted Market Review, Career Times, 10 October 2003.
Salaries have been reduced by 30-40 percent since 2000 across all levels of seniority
The IT sector is becoming increasingly competitive and healthy, says Edwin Tam, director, InfoTech Services (Hong Kong) Limited, although salaries have been reduced by 30-40 percent since 2000 across all levels of seniority. "The mid-term prospect is optimistic," he comments. According to him, competition from Shenzhen, in mainland China, is becoming less attractive, due to rising salary levels for technical support across the border. Quoted Market Review, Career Times, 4 July 2003.
More middle to top-level IT sales and marketing professionals are serving the China market
Edwin Tam, director of InfoTech Services (Hong Kong) Ltd. said, "More middle to top-level IT sales and marketing professionals are serving the China market, particularly in Shanghai and Beijing, and many are [employed by] multinational computer/telecom vendors and high-tech companies. But few IT technical professionals have relocated to the Mainland." Quoted Market Review, Career Times, 10 January 2003.
- Chinese presentation only
A Career Seminar - As a Software Developer in the PRC Today was presented by Mr Wang Jia Cheng, Jason - a Senior Systems Analyst of InfoTech Services Hong Kong Limited on 19 April 2002. The seminar was organized by the Department of Computing, Hong Kong Polytechnic University. Jason shared with us his valuable IT work experiences and the IT working style in the PRC.
Here we are two years after the dotcom bubble burst, InfoTech analyzes the IT sector from a macro perspective, also tells you more about each IT position and pay level at a micro level. Quoted HR Columnists, CTgoodjobs, 15 March 2002.
Return to Market Trends ...
After the dotcom bubble burst and the "911" incident, InfoTech updates you how is the IT sector going in Hong Kong. Has the market sunk? Will it rebound? What sorts of skills and talents are still being sought in the market? Quoted HR Columnists, CTgoodjobs, 15 March 2002.