The latest Contracting News and Articles
News by Topic
News by Date
22nd July 2010
IT contractor pay rates recovering
Pay rates for contractors working in the IT sector are gradually recovering in the wake of the downturn, recent figures have suggested.
Several recruitment professionals have noted a significant increase in hiring IT freelancers in the London area, which is helping to push up pay rates.
This has largely been attributed to several companies restarting projects which had been frozen during the recession as a cost cutting measure.
Richard Herring, European staffing services director at IT staffing experts, Volt, explained: "Clients in London are taking their finger off the pause button. Previously shelved projects, [some dating back 18 months] are now being reignited."
Michael Bennett, of IT staffing agency ReThink Recruitment, also pointed out that the downturn itself has helped to drive demand for temporary IT manpower, as many businesses opted to merge during this period.
He said the numerous mergers had substantially boosted demand for workers with specialist skills, mainly "to handle post-M&A integration of banking IT systems".
According to recent figures from Hays IT, the most popular areas of London for IT recruitment are currently The City and the Docklands.
We respect your privacy