Contracting continues to be popular in the professional markets as it can offer individuals work on a range of projects as well as the opportunity to gain more varied experience compared to staying in the same long term, permanent role.
A premium for the highly skilled
Despite the general decrease in contract opportunities available in 2017 (as revealed in our recently released salary guide), due in the main to Brexit uncertainties, some roles can still be well rewarded. Such roles, as outlined by Emolument.com in their recent study, require high levels of skill, with greater specificity and unsurprisingly, tend to be applicable to more senior candidates.
The finance, change and IT sectors still offer premiums for contract roles, with increased rates for those candidates who possess strong technical skills or extensive industry experience.
|1||Finance||Risk Modelling / Quant||£760|
|2||Change Management||Risk Change||£730|
|5||Change Management||Finance Change||£570|
|6||IT||IT Senior Management||£570|
|8||Finance||Credit Risk Management||£520|
|11||Finance||Operational Risk Management & Risk Analytics||£505|
|13||Finance||Corporate & M&A Strategy||£495|
|14||IT||IT Service Delivery||£485|
|15||Change Management||Operational Change||£475|
|18||Outsourcing||Procurement & Purchasing||£445|
The impact of skilled contract hires
Risk modelling/quant contractors within finance are top of the pile as they possess advanced mathematical knowledge which is a precious and well rewarded skill in the banking industry. IT is a sector that has seen some impressive growth in the last few years, both in terms of jobs available as well as rates they can charge. The roles at senior management level and those with substantial experience can expect a healthy day rate.
Temporary by nature, the frequency of change management roles in the top 20 best paying contractor roles is reflective of the times. With plenty of change in regulations and the political uncertainty of Brexit, organisations are prepared to offer a premium for well qualified change contractors on projects that impact their bottom line.
Could you be a top contractor?
Becoming a contractor for the first time can be a daunting step as there is far less security around your earnings. This said, if you have niche or high demand skills, you will be attractive to employers and in turn, likely to be able to command a premium rate.
If you would like any information on becoming a contractor, or if you are looking to hire someone for a specific temporary role, don’t hesitate to get in touch.