Good news for IT contractors as average rates increase
For those who have made the decision to go it alone and work for themselves, the issue of money is always a major consideration, but anyone considering a career as an IT contractor will be pleased to learn that rates have increased in 2015 compared to those paid in 2014. Almost all major areas of IT contracting have seen an increase in the rates that are being paid despite reports of a slight decrease in demand.
Of the 16 major areas of IT expertise, 14 of them were shown to have seen an increase in the rates on offer to contractors between July and September 2015, according to the research conducted by a computer staffing firm. Senior IT management contractors are reporting the most substantial increase of 12 per cent year-on-year, alongside higher demand to the tune of around 61 per cent, and Application Analysts came in a close second place with an increase of 9 per cent.
Across all the various disciplines of IT contracting, the average rates were found to be up by 3.3 per cent this year, exceeding the overall rate of inflation by a significant amount. There are only two areas in which IT professionals are earning less: software engineering and web development, and this was by vanishingly small percentages of 0.58 and 0.61 respectively.
Business intelligence is one area where increased demand has exceeded expectations significantly, with a rise of 35 per cent in the numbers of businesses recruiting for flexible workers to fill such contracts. Software testers have also been able to enjoy a buoyant freelance market where their skills have been in demand to the extent that there has been a 31 per cent rise in the number of contracts available.
Anyone considering a career as an IT contractor will benefit from our resources, including our contractor take-home pay calculator and our guide to the advantages and disadvantages of a limited company which can help you to make the right decisions as an independent professional.
If you want more specific advice on your finances, then our specialist accountants are always on hand to help you plan for the future as well as saving you time and money, so call today on 01442 275789 or email email@example.com for details on how we could help you.