IT Market Overview - by Mike Smith of the Anteo Group

· Over 100,000 IT specific companies in the UK

· Nearly 1 in 20 Jobs in the UK are IT – 1.5 Million IT Professional

· Employment in IT has doubled since 1992

· Employment in IT is predicted to grow at 5 times the national average

· Over 141,000 new entrants are needed to fill IT roles in the UK each year

(This does not take into account those leaving the industry)

· 55% of IT Professional have a degree or above qualification – compares to 32% of the UK workforce as a whole

· Average weekly income for IT professionals is £690 compared to £420 for the UK workforce

(More than 50% more than the national average)

· GVA (GROSS VALUE ADDED )per job is estimated in the UK at £81,400 – compared to UK average of £33,300

(Contribution to the economy of each individual)

· Proportion of people aged between 16 -29 in the IT profession has dropped from 32% in 2001 to 21% in 2007

· 50% reduction in the uptake of Computing Degrees over the last 5 years

· Half of Europe’s productivity gains over the last few years can be attributed to IT

· 80% of the productivity advantage of US multinationals is due to better use of IT

What does this mean to you –

Good news –

On a personal / ego level – you are some of the smartest and best paid professionals in the UK.

On a business / ego level – IT is the number 1 reason for increased productivity in your organisation

On a career / ego level – There is a major shortage of young professional coming into the sector and as such your long term career is more secure. There will also be more opportunities for promotion and increases in salary.

Organisations are only now coming to realise the implications of the shortage of IT professionals and very few have put in contingency plans / processes / true partnerships to ensure that they can attract their future IT workforce. You are in a great position to make the most of this situation.

Also See

• http://www.anteogroup.co.uk