Reporting from London: no crunch here so far. Average IT salaries are still on decade-old £50-60k levels (despite the inflation and rising costs of living).
Never recovered from 2008, and I don't see it changing anytime soon. When companies can continue making more profit, they're going to keep doing so on the backs of their grunts like us.
Meanwhile we continue to try and figure out how to survive on stagnated pay with cost of living continually on the rise. I'm trying to do more side work just to pay my basic bills.
I'd say get out of IT, all the neighbors around me who are in upper levels of sales in medical/pharm/chem are doing quite well off. Companies still see IT as a cost and not a benefit and pay as little as they can, which isn't much.
£50k in London may be doable for 20-somethings living in a shared apartment, but for the rest of us it's a fucking insult.