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| CURRENT SECTION :: Market Reports | UK's most visited IT Contractor Site - 250k unique visitors March 2008 |
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September is typically a good time for contractors. Any log jam of work built up over the summer months has normally reached a critical mass and programme directors across the country start to get impatient with those beneath them. Tables are thumped, deadlines are reiterated and skilled contractors are called in a hurry. This September is pleasingly similar, with average rates among the ten most commonly requested IT contractor job titles reaching a year high. The £34.87 reached this month is a minimal step up on last month’s GBP34.70, but it continues the encouraging upward trend that we have seen since June. This positive news is reinforced by a story carried by contractoruk just a few days ago that noted the limited time that contractors are spending out of work. This growth in the average rate comes despite a fall in the hourly pay commanded by SAP consultants. This group has had a phenomenal year so far, with average rates typically well above GBP60 per hour. Rates have actually fallen by 8% in the last four weeks. Given that June and July saw increases of more than 10%, it should be clear what a volatile (if largely profitable) market this is. The broader increase in average rates is due to small rises across other skills. Architects are fairly typical of this wider trend. Our figures show that through the first quarter of this year, the term “architect” appeared in around 2.5% of all advertised jobs, peaking at around 3.5% at the end of April. This fell away again over the next three months, before picking up in July and rising steadily ever since. Demand for all the main job titles has followed a similar pattern. Less common titles have also fared relatively well. “Systems administrator” is a suitably generic title that acts as a good market marker. It is the 30th most requested job title of the many thousands our figures analyse, but still common enough to be revealing. Looking at average day rates over the course of the year, systems administrators have seen their income shift from GBP340 a day in January, to GBP365 in March, GBP335 in May and up this month to GBP387. It is a rollercoaster pattern that is repeated throughout the main IT contractor markets. All that varies is the size of the dips. One area that has contributed significantly to average rate rises is the field of finance. One recent report from Manpower claims City hiring has reached a nine year high, with some 30% of those quizzed expecting to hire in the final quarter of this year. This figure is a rise of 17% from the same period last year. Through the broader UK economy, 11% of firms are planning to hire, up from 8% in 2005. Big banking often leads other sectors in hiring trends, and is a good marker of what IT contractors can expect. That so many City firms are expecting to take on staff in the next few months is a very encouraging sign. But it is worth noting that this rise comes from a low ebb. Average hourly contractor rates are still down more than 12% from last year. Jobs quoting the generic term “banking” now command just GBP28.45 per hour, compared to GBP32 at the same time last year. Telecomms is another area on the up. This notoriously fluctuating market has enjoyed a profitable month, with average rates moving up quite sharply. Average day rates for telecoms contractors are now at a minimum of GBP320. This is short of the year high of GBP325, but a significant step up from the year low of GBP305. Hourly rates are up to GBP27.95 from GBP25 for the same time last year. Matt Farquharson Data source: www.itjobswatch.co.uk Sep 27, 2006 Email this article Printer friendly page Previous Page
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