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Just over a quarter of IT contractors are reporting an increase in their daily rates, compared to 12.6 per cent who are experiencing reductions in their pay. This is a complete turnaround from the 2012 research, when nearly twice as many IT contractors, 29 per cent, saw their rates cut than increase.
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“Having reduced spending on IT during the recession, businesses are now ramping up recruitment as investment in technology revives. Increased competition for the best candidates will inevitably drive up pay.
“Many contracts which were negotiated during the depths of the recession will be coming up for renewal. It is becoming much harder for the end client to agree contract extensions at the same rate now that contractors have considerably more choice.”
The research also reveals that a just over half of IT contractors are ‘very positive’ about the state of the market, a significant increase on the third of IT contractors who were ‘very positive’ this time last year.
Simon Curry said: “Contractors normally benefit from improving market conditions before permanent staff, so this dramatic increase in confidence over the past 12 months looks set to translate into better pay and job prospects for all IT workers later in the year.”
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Susie Hughes © Shout99 2015
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