| January 2007 |
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| The finance industry is just one of many experiencing strong growth |
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| When James Dixon, CEO of IT recruiter Greythorn, wanted to expand his business beyond the Pacific Northwest, he knew where to head next. "Chicago was the first location we looked at," he said. "Its corporate resume is outstanding, the area has enjoyed healthy but sensible growth over the past few years, and there is a stream of private equity money heading to Chicago. All this will lead to a strong and sustainable job market for the future."
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"Chicago's local government is very active in promoting the growth of the economy through technology,” he added. "Governor Rod Blagojevich grants millions to technology companies, both established and start-up. The city is wired, and with key technology advocates in local government, the future for the region’s tech industry looks healthy."
At least some of the numbers back up his assertions. Chicago enjoyed a steadily falling unemployment rate throughout 2006, down to an impressive 3.5% in October, and according to the quarterly Manpower Employment Outlook Survey, from January to March, 30% of the companies interviewed plan to hire more employees. The report said that for the coming quarter, IT job prospects appear best in finance and insurance.
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| "In Chicago, and in the State of Illinois in general, there is a strong emphasis placed on the growth of the technology sector" |
| - Lou De Angelis, branch manager of Sapphire Technologies |
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At Dice, the number of fourth-quarter job listings was down (with seasonality contributing to the drop), but for 2006 in total, listings were up slightly. "Only three cities have more job listings than Chicago," said Scot Melland, CEO of Dice. "Motivated job hunters should be able to find what they need, especially if they look for growing industries." And salaries are rising, too. The 2006 Dice Salary Survey pegged the average Chicago IT salary at $75,154, up 5.12% over 2005.
"Finance, without a doubt, is hot right now, including major banks and major mortgage lenders," said Lou De Angelis, branch manager of IT recruiter Sapphire Technologies. "Healthcare is also very promising these days. There is no doubt that there are more open positions then there are qualified candidates. This is a great time to be testing the market." Asked what job titles seem most in demand, De Angelis listed project managers, developers, network engineers/administrators, SAP, QA, and programmers specializing in .NET, SQL, JAVA, J2EE, and C++.
Like Dixon, De Angelis sang the praises of Chicago's attempts to attract technology. "In Chicago, and in the State of Illinois in general, there is a strong emphasis placed on the growth of the technology sector. With the City of Chicago proactively wooing companies to the area, I believe that Chicagoland will be, if not the premier location to be seeking a career in technology, then at least within the top three markets in the country."
Brad Spirrison, president of MidwestBusiness.com and tech columnist for The Chicago Sun Times, said, "While tech has enjoyed a nice renaissance for employment in Chicago, financial services and interactive marketing are also quite healthy. Chicago is a professional services town, so industries that are evolving rapidly to technological change--think of the erosion of some of our physical marketplaces--offer more opportunities for technical employees."
Even the local Chamber of Commerce is talking the talk. In a recent press release, it said "We firmly believe that Chicagoland’s ability to embrace innovation and apply innovative approaches to everyday business operations and strategies will determine how well our firms and the region as a whole fares in the global economy for years to come."
Plain-spoken Chicagoan Spirrison sums it up this way: "IT experts may find more advanced technological development in Silicon Valley, Boston, or other tech centers, but an understanding of how technological development relates to established markets is critical. Chicago is not a town impressed by technology for its own sake but rather by how technology is implemented for the advancement of business."
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