Here is something thats very interesting. While there is a lot of clamoring everywhere regarding H1-B system bringing down the pay scale for tech employees, a study found out that the pay for technology professionals are approaching an all-time high.

Based on data compiled from 75 Yoh field offices and 5,000 technology professionals contracted in short- and long-term projects, pay increased an average of more than 5.5% for the quarter ended Sept. 30, compared to the same period last year.

Compared to the same months in 2006, hourly wages for techies in 2007 rose 6% in July, 4.64% in August, and 5.79% in September.

Another interesting part of the report is that

Among the hottest skills being demanded right now by Yoh clients are Java and .Net developers, database administrators, SAP functional and technical consultants, and project managers, said Jim Lanzalotto, Yoh’s VP of strategy and marketing. Last quarter, SAP consultants on average earned $88.07 per hour, while Java developers earned $50.89, per hour, according to Yoh’s research.

Read the complete article here. There are a few insightful comments to the article at the bottom, don’t forget to read them.