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More IT contractors expect to see rate rise in 2010

Published on Nov 2, 2009 | | Contract Rate Checker

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The latest research by contractor services provider, giant group, provides further evidence that confidence is beginning to return to the contracting market, with the proportion of contractors expecting to see a rate rise in 2010 rising from 58.4% in the last edition of the survey, to 61.4% currently.

As a result of the credit crunch, the number of contractors selecting income as their number one priority has fallen from 45% to 38%, as they focus on other issues such as seeking a steady source of contract work and other career issues.

Contractors seeking more security during downturn

Matthew Brown, MD of giant group, commented:

"Earlier this year the sheer scale of the downturn in the job market was dawning on everyone and so securing an income to pay bills and mortgages became an understandable priority.

"We are not at the end of the tunnel just yet but these figures suggest as IT contractors are less nervous about the prospect of being out of work they are starting to place greater emphasis on career issues, such as the opportunity to develop their skills, when selecting contracts."

Rebound in financial services contracting?

Two years on from the Northern Rock collapse, and the number of contractors expecting to source most of their contract work from within the financial services industry has rebounded strongly - with 22.1% of those surveyed expecting most opportunities to come from the sector. Under 15% believed this to be the case when the survey was carried out six months ago.