Another day, another salary survey - and this time, there is a suggestion that fears of a severe economic downturn are forcing IT project managers to cut their rates.

Data from PM3 Consulting suggests there is evidence of a looming price war, as the market tightens and firms focus on cost cutting instead of revenue generation. Figures from recuritment specialist suggest fees charged by top project management consultants have dipped by as much as £300 per day, or an average of 35 per cent.

Steve Pragnell, chief executive of PM3 Consulting, says new management consultants are pouring into the market, which is in turn becoming flooded with first rate people looking for contracts:

“However, those we would class as experts – the very best consultants - are having to accept sizeable rate cuts to compete with those with a lower skill set, who can charge less.”

PM3 Consulting suggests such trends explains why consultants are now willing - or more likely, being forced - to take roles for which they are over qualified.

NCC reported recently that three quarters (73 per cent) of firms have a need for new skills, with project management skills seen as a high priority area for business, despite fears of a downturn.

And as project management specialist Peter Merrick said to me this morning: "One of the biggest issues facing the IT industry is delivering projects on time."

However, the PM3 Consulting report clearly identifies issues of supply, demand and affordability. This blog has paid a great deal of attention to IT employment trends recently (see Further reading, below) - and the message for technology professionals seems clear: afford to be flexible.

Now, more than ever before, IT workers need to realise that it is dangerous to specialise in the wrong area. NCC suggests IT professionals with Oracle, SAP, .Net, web development, network support, business analysis, and virtualisation will also be in high demand during the next two years.

Two years after that? Anyone's guess. It would seem the only answer is continual professional development.

Further reading

• New business dreamers should turn to technology
• Technology skills gap will create a crisis, says Gartner
• IT needs to show the boss it means business
• Depressed technology professionals need a boost
• Is IT always a business issue?
• The adventures of a technology career

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