Third Consecutive Pay Rise Predicted For IT Contractors

Mar 19, 2014

IT contractors are expecting their third pay rise in a row this year, according to umbrella employment provider Giant Group.

The organisation polled a number of professionals in the area to find 71% of them were expecting their salaries to increase within the next 12 months, up 6% from a similar survey conducted last year.

It is possible respondents expect a raise because of improving working opportunities; 52% said they thought that they would see demand for their services grow.

“It’s extremely encouraging to note so many contractors feeling optimistic about their pay prospects and future work opportunities,” claimed Matthew Brown, managing director of Giant Group.

“With the ever-present gap between demand and talent supply, such niche experts will understandably be highly sought-after. With on-going investment in areas such as big data and mobile, the need for professional contractors will only continue to intensify,” he added.

Giant Group’s research also revealed that the two areas with the most demand for IT professionals were financial services and the public sector.

According to the company, this is to be expected when the government is currently undergoing its Digital By Default transformation, while the financial sector is often migrating it systems.

Their findings are in line with other reports in the technology sector. Employment agency ReThink Recruitment found that 77% of participants in their annual IT Directors Survey predicted an increase in work load for their teams.

Meanwhile, at the beginning of 2014, professional services provider KPMG reported that the UK tech sector had seen its best growth in a decade during 2013’s final quarter.

© 24N.biz 

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