Oh, I understand that there are overtime exemptions for most IT professionals (heck, most salaried professionals), but just because it's possible doesn't mean it should be standard procedure. I'm not opposed to working more than 40 hours a week on an as-needed basis. I'm opposed to being expected to work 60 hours a week without extra compensation on a regular basis. Sure, it might be legal. But if you press your luck too much and use technicalities to justify it, you'll find yourself alienating your employees and having to replace them. That's not cheap to do, and it's certainly not easy to do once word gets out about what is expected.
I'm very clear that when I negotiate a salary that the salary is based on 40 hours a week with occasional overtime as needed. I'm also very clear that if the expectation is to regularly put in lots of "unpaid OT" then my base salary is going to have to be higher. If they want 50% more hours out of me then they would need to bump my salary another 50%. After all, there's no such thing as a free lunch. Besides, when it comes right down to it, most companies have absolutely zero loyalty to their workers. No matter how much free work you give them, when push comes to shove you are expendable. So I prefer to make sure that everyone is on the same page, i.e., they pay for my services and I provide those services. They get what they pay for and I get paid for what I do. Most hiring managers that I've had to explain that to respect that. The others I wouldn't work for. But then I'm a consultant, so I get paid overtime as long as it is billable too.
Where are you working in the midwest? In central Ohio there isn't a wage drop or a contraction for IT. In fact there's an IT staffing shortage. My company is having a hell of a time finding qualified candidates, and our customers are bombarding us with position reqs because they can't find qualified candidates either, and then trying to hire them away left and right. Even when we're trying to recruit people right out of college, the graduating classes for people getting degrees in IT-related areas are only 10-12 people. I think that all of the talk about a contraction and outsourcing/off-shoring has scared people into not going into IT, which in turn created a shortage.
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CompTIA A+, Network+, Server+, Security+
MCSE:Security 2003
MCTS:Active Directory
MCTS:Network Infrastructure
MCTS:Applications Infrastructure