I have 30 years experience in DP and IT and have just taken voluntary redundancy due to being caught between a decision to outsource most of IT followed by a company buyout and all that that entails in terms of culture change etc. I am content at this outcome.
However, for the last five to seven years I was only too aware that my employer could and continued to employ recently first class IT Graduates of between 23 and 26 years of age from DCU, Trinity, Regional IT's and pay them a basic €25k to €30K on yearly contracts. These would be highly skilled people and would usually up stakes and leave after two or three years when they realised that salary and career progression was non existent. New graduates would then be employed! This would also keep old timers like me with all our perks of pension, holiday pay, bonus, VHI etc in our place!
While no longer looking for a job in IT, I have looked around at the job market. Most jobs in IT, especially at mid or senior manager level, have responsilbilities and workloads not in proper proportion to salaries or contracts offered. Most jobs in IT are in the €25K to €45K bracket. There are a lot of jobs in call centres paying very poor money to highly technically skilled IT graduates. Jobs in Accountancy, Sales, Marketing etc pay better for similar pressures and workloads.
IT is becoming like nursing! While IT workers usually enjoy their work, big money doesn't always come with it! Others in jobs that ere enhanced or made easier by information systems e.g. sales (CRM, business intelligence), financial services, retailing (EPOS) etc usually reap the real benefits in terms of money and better hours!
I would advise students and my own kids, to certainly qualify in IT if that is your passion, but, then to do a post-grad in accountancy, business or proper project mangement (there are very few good IT project managers out there!). Oh yeah.. one other option is to specialise in appls like SAP, telecoms. This will ensure that you can earn deserved financial rewards from your early thirties onwards by progessing to other areas in corporate life or going into business on your own, where IT graduates really thrive.