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Two independent reports show that the demand for contractors working in the financial services arena continues to recover, and rates have risen accordingly.
Strong demand for high calibre contractors
The latest 'Contractor Index' update from specialist recruitment agency Clarity Resourcing shows that rates for most contractors have risen from Q4 2009 and Q4 2010.
The company has seen a surge in day rates for programme managers, senior project managers, project managers, workstream managers and business analysts. These contractors have seen their rates rise by on average 20% over the past year.
The Index also shows that demand for contractors in some niche application development areas have experienced similar rises - ETL developers and BI/BO developers have seen their rates soar by 52% and 65% respectively.
Adam Sztuka, MD of Clarity Resourcing said; "IT contractors were hit hard when the recession took hold and financial services organisations cut projects and budgets, but this has now bounced back. Regulatory changes introduced by the Financial Services Authority such as Solvency II, Basel III and RDR has created a strong demand for high calibre contractors experienced in business-change and risk management."
75% increase in financial contractor job offers in April
The number of contract job offers made to financial services contractors in May continued to rise (albeit marginally), following a massive jump in April, according to data release by pre-employment screening firm Powerchex.
Despite the unusual number of bank holidays (and Easter), April saw a 75% increase in the number of confirmed contract offers compared to the same time in 2010.
contracteye.co.uk - Clarity Contractor Index