IT Generalists and Specialists | SMB IT Journal
This was a really interesting read and the author makes some great points. This topic comes up a good bit here so I'd recommend anyone who's pondered the topic to give it a whirl.
Both career paths offer rewarding and broad options but the choice between them does play a rather significant role in deciding the flavor of a career. Generalists, beyond gravitating towards smaller businesses, will also likely picking up a specialization in an industry over time as they move into higher salary ranges (manufacturing, medical, professional services support, legal, etc.)
Specialists will find their focus is in their technology and their focus on market will be less. Generalist will find it easier to find work in any given local market, specialists will find that they often need to move to major markets and potentially only the core markets will provide great growth opportunities but within those markets mobility and career flexibility will be very good. Generalists have to work hard to keep up with a broad array of technologies and changes in the market. Specialists will often have deep vendor resources available to them and will find the bulk of their educational options come directly from the vendors in their focus area.