[quote=JEEscondido]
I never understood why IT people, many with no degree, made substantially more than mechanical/electrical engineers, chemists, etc. many with advanced degrees. Maybe we’re finally seeing “reversion to the mean” for salaries in IT. [/quote]

That would be me!

Its simply a matter of supply and demand. At the university where I work, a new <50k faculty position will attract thousands of applicants. All with Phd's, of course. A new 75k IT job, on the other hand, will be lucky to attract even a few good applicants. Degree or not.

I will admit that a plus of the down economy is that we are finding it easier to hire competent talent.

IT is also a young discipline. I'm only 35 and have worked under some of the pioneers in the field, including the inventor of C++. This stuff is still all pretty new and dynamic; hence competence still demands a premium.