Technology Wages Rise 4% in Fourth Quarter

PHILADELPHIA, February 9, 2004 – Wages for technology workers rose 4% at the end of the fourth quarter of 2003, compared to the same period in 2002, according to the Yoh Index of Technology Wages.

The fourth quarter survey details several industry trends including continued increases in pay for clinical research and scientific workers as well as strong growth in the Mid-Atlantic and Pacific Northwest states.

Within the technology arena, pay rates for workers in the clinical research sector showed a significant gain of 6.5%. Scientific wages were also up (5.9%), as were telecommunications (4%), IT (3.8%) and engineering (1%). Overall, the Yoh Index of Technology Wages ended the quarter at 105.72, when indexed to January 2001.

"The Yoh Index of Technology Wages indicates continued solid growth," said William C. Yoh, President & CEO of Yoh, a Day & Zimmermann company. "We attribute this to several factors, including GDP strength, geographic and sector growth and new investments in technology and knowledge by companies in many high-tech industries."

Technology wages in San Francisco continue to experience strong growth, fueled by demand in the IT sector. Demand in the Pacific Northwest (4.8% increase) is also growing, primarily due to increases in IT spending. Requirements for staff in the pharmaceutical and biotech markets, particularly related to clinical research and bioinformatics remain robust, particularly in the Mid-Atlantic and Silicon Valley.

Wage rates in Southern California (4.5% increase) and the Northeast (4.2% increase) also experienced strong expansion.

"Overall, we're bullish about the next several quarters in technology labor markets," says Jim Lanzalotto, Vice President, Strategy and Marketing for Yoh. "Hiring managers and HR departments are actively replenishing depleted human capital inventories and some skill sets, particularly in biotech, civil engineering and ERP segments, are experiencing a significant increase in demand."

"We are also seeing signs of improvement in the tech sector," said Scot Melland, president and CEO of Dice Inc. "Over the past year, we've seen improving salaries for technology workers, a 40% increase in job postings on the Dice.com site, and indications from our customers that they plan to increase hiring. We believe the tech employment market has finally turned the corner."

About Yoh Index of Technology Wages
The Yoh Index of Technology Wages is based on a quarterly sample of the temporary technology labor pool being utilized by more than 1,000 businesses in the aviation, engineering, IT, manufacturing, scientific, telecommunications and utility communities. This quarterly sample encompassed more than 5,000 technology workers. The Yoh Index of Technology Wages provides a unique barometer of the changes in employer demand and supply of technology talent nationwide. For more information please visit yoh.com/yohindex.