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UK – IT contractors predict rate rise for third year

19 March 2014

For the third consecutive year, IT contractors are expecting a pay increase, according to research carried out by professional umbrella employment provider, giant group. Results from the organisation’s latest survey indicate that 71% of respondents believe rates will increase over the next 12 months, an increase of +6% on last year’s predictions. A further 52% expect contracting opportunities to increase over the next year.

This rise in work expectations is in line with wider reports across the industry, including the latest IT Directors’ survey from recruitment consultancy, ReThink Recruitment. According to their research, 77% of respondents are expecting an increase in workload for IT teams in the coming months, but 52% do not believe they currently have the capacity to increase output. These figures suggest a rising demand for contractors to fill expected gaps in the next year.

When analysing its own statistics further, giant group found that Financial Services and Public Sector remain two of the biggest areas using IT contractors. This is perhaps unsurprising given the on-going systems migration in the finance arena and the government’s shake up of the welfare system, both of which will continue to drive demand for niche experts to oversee projects.

Managing Director of giant group, Matthew Brown commented on the findings. “It’s extremely encouraging to note so many contractors feeling optimistic about their pay prospects and future work opportunities. With the ever-present gap between demand and talent supply, such niche experts will understandably be highly sought-after. And with on-going investment in areas such as big data and mobile, the need for professional contractors will only continue to intensify.”

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