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Optimism among IT and financial contractors
by Susie Hughes at 11:34 15/01/14 (News on Business)
IT and finance contractors are expecting a rates rise for the third year in a row according to recent research.
A survey by umbrella employment provider, giant group, indicated that 64 per cent of IT contractors are predicting an increase in fees in 2014, a slight rise from 2012 and 2011, indicating growing confidence in the contracting market.

Also 81 per cent have reported the average gap between their assignments stands at 0-31 days, again, representing an increase on the previous two years and reflecting the growing number of opportunities available in the IT industry as organisations look to build on their existing infrastructure. In 2012, 79 per cent reported an average gap of 0-31 days between assignments while in 2011 this stood at 77 per cent.

Finance
Growing optimism is also evident amongst contractors in the financial sector as they too anticipate an increase in earnings in the next year. Currently 67 per cenbt of contractors in this industry expect rises, a growth of seven per cent on the previous two years.

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As with the IT sector, finance professionals are reporting a decrease in the average period of time between assignments. Figures from the research show 80 per cent of contractors had an average gap of 0-31 days between placements, up from 77 per cent in 2012 and 75 per centy in 2011.

Matthew Brown, Managing Director of giant group said: “It’s very encouraging to see such strong results posted, particularly when compared to the previous two years. What can be seen here is continued growth, representative of increasing confidence in the contractor market.

"Across the board we’re seeing anticipation of increased earnings and opportunities which hopefully will continue to be a reality in 2014 and onwards. The results aren’t entirely surprising; as many organisations increasingly look to update their IT systems, experienced contractors will be needed to handle system migration projects. The on-going regulation developments in the finance sector could also, partially, explain the increasing confidence shown in that industry.”

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Susie Hughes © Shout99 2014

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