Contractor News Roundup: July 2020
Working for yourself is a lifestyle choice, driven by being able to earn higher rates of pay and “no office politics” claims survey statistics from leading accountancy firm for contractors, consultants and interims, SJD Accountancy.
With over 1,000 responses received, per survey, almost three quarters of those claimed that contracting has had a positive effect on their work/life balance, up 16% from 2012.
Other key factors included higher rates of pay with 36% commanding between £ 500 – £750 per day rates, up 20% over the last two years and 62% voting for “no office politics”. Flexibility (60%) and freedom (52%) also rated as popular reasons why people are opting to stay as contractors.
With increases in contractors in their 40s (34% of all surveyed) and 50s (up from 16% to 20% of those surveyed in the last year) and 74% saying that they consciously chose contracting as a career, the results have found that people are making a conscious decision mid career to work for themselves as a lifestyle choice.
A more buoyant economy is obviously driving these rates of pay with 86% of all those surveyed saying that the general outlook on the contracting market was more positive. 79% also said that they found being a contractor rather than an employee more satisfying and only 23% missing any of the benefits of being PAYE.
Better roles are also a factor with those surveyed stating more strategic roles such as project managers, business consultants and management consultants high up in the positions that contractors are fulfilling. And although many still work in IT, SJD has seen a significant increase of those working for themselves in finance, up from 20% to 25% of all surveyed.
Far from the myth that contracting is a stop gap between permanent roles, 81% have been contracting for over a year, with 29% having run their own business for over 5 years.
Managing director of SJD Accountancy, Claire Johnson comments on the survey, “Asking our clients about their work life and their attitudes to their work is always really revealing. Finding that more people are consciously opting for contracting shows that more people are looking for different ways to working, wanting higher salaries and better roles. This research is a great snapshot of the changes taking place in the workforce today and the outlook for the market moving forward.”
The SJD Accountancy contractor survey covered the views of around 1,000 contractor clients of SJD over the last six months in 2013. Results have been gathered from January 2012 to December 2013 allowing a comparative view of the market over a full two years.
A full breakdown of the results can be found here:
Click here for all the latest news and views stories from SJD.
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