Pay rates up for IT contractors

by Susie Hughes at 10:05 12/11/14 (News on Business)

IT contractors expect both earnings and opportunities to increase over the next 12 months, according to an analysis by giant group.

Advertisement The umbrella employment specialist’s latest study found that 96 per cent of IT contractors believe their earnings will rise over the next 12 months, an increase of four per cent year-on-year. A further 98 per cent predict that more roles will become available over the next year representing a growth of 27 per cent year-on-year. These results are supported by a study from Pierre Audoin Consultants which found that daily rates for IT contractors are set to rise by an average of 1.2 per cent over the next year, highlighting the ongoing optimism within the market. This positivity is driven, in part, by improvements in the economy coupled with a growing demand for contractor expertise. In fact, further analysis by the research firm found that areas such as Analytics and Digital Transformation, in particular, are suffering from ongoing shortages, which are boosting rates for specialists. Encouraging Matthew Brown, managing director of giant group, said: “It’s always encouraging to see such optimism amongst contractors, particularly in such a large and important sector. IT plays a hugely significant part in our working activity and this is, in turn, driving demand for these talented specialists. Improvements in the economy have also certainly contributed to the rising sentiment as many businesses are now feeling more confident about investing in projects they perhaps would have held back on in the past. “Coupled with this, we’re also seeing contractors being sought after in newer roles with many organisations placing a greater emphasis on infrastructure security. The rising threat of cyberterrorism has meant many firms are now looking to take on contractors with defence expertise who can prepare their businesses for any threats they could potentially face and this is certainly one factor behind the improving sentiment. "These niche skill sets aren’t readily available in the permanent market which is prompting businesses to target specialist contractors. Consequently, professionals can expect both rates and opportunities to rise, as has been reflected in our survey.” Tweet -- If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'. - Susie Hughes © Shout99 2014

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