A new study commissioned by the executive recruiting firm Korn/Ferry International tells us what many readers have known for some time: the greater Washington area is a great place to do business.
A staggering 96 percent of the 100 high-level industry players surveyed said that local companies are generally headed in the right direction. What's more, 97 percent of those surveyed said that they were strongly committed to reinvesting in the greater Washington area.
The only major note of caution is the shortage of skilled high-tech workers - but that's hardly a problem endemic to this region.
While prospects for a quick fix to the recruiting problem are unlikely, the industry's high revenues will gradually fix the problem.
High-school and college students mulling career decisions need only get a whiff of these numbers: Electrical and software engineers' median income is $72,000 this year, up from $67,000 in 1995, says a survey of U.S. members of The Institute of Electrical and Electronics Engineers Inc. That's a 7.5 percent boost, much better than the 5.8 percent increase in the Consumer Price Index,
The biggest winners are younger engineers and professionals working in fast-moving sectors, such as the Internet industry. These engineers under 39 saw their base salaries rise a full 15 percent. To this total, you've got to add the allure of cash bonuses, potentially lucrative stock options and long-term career prospects.
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