Workers with specialized talents in specific fields – including business systems analysts – could see pay increases in the coming year, according to a new report.
The report, by staffing company Robert Half International, bolsters the theory that specializing in a specific area and becoming an expert in that area can lead to better chances for improved pay and promotion.
According to the report, which is available for download on roberthalf.com, those with high-demand jobs in areas such as accounting, finance and information technology can expect to see above-average increases in pay. This is partly because the unemployment rate for higher-skilled workers remains low, according to a report from Fox Business.
Robert Half has been producing salary guides since 1950 in an effort to provide hiring managers and professional job seekers accurate salary information for their profession and geographic area. The company also follows the latest employment trends.
Information for the reports is gathered by the hiring professionals who work at Robert Half as staffing and recruitment managers, as well as through surveys sent to company executives.
Paul McDonald, a Robert Half senior executive director, told Fox Business, “Employers have to understand they have to pay premiums to get good talent.”
Robert Half projects an overall 3.7% rise in salaries for professional workers in 2014. The highest increase is projected for technology professionals, who the survey projects will see an annual increase of 5.6%.
Among other professions, accounting and finance professionals are expected to make 3.4% more, while creative and marketing workers could see a 3.3% increase, according to the survey.
The report also found that healthcare, financial services and manufacturing will see the biggest increases. More government regulations that have to be met – as well as advances in technology and data gathering – have led to more demand for jobs in those industries.
“It’s simple economics of supply and demand,” McDonald said, according to Fox Business. “In technology, mobile apps, business intelligence and software are driving a lot of it.”
Some specific fields will do better than others. For example, Robert Half projects that mobile app developers will see an almost 8% rise in pay, translating into an annual salary of $100,000 to $140,000. Software developers could see 7.7% more, according to the report, leading to salaries between $80,250 and $127,250.
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