 |
Professional Indemnity Insurance
PI Insurance for contractors + public and employers' liability cover - find out more. |
Interim management market tested by economic downturn
Posted Mar 18, 2011
A new report provides an interesting insight into the state of the interim management market in the UK.
The 2011 study, commissioned by Executives Online, follows on from similar surveys carried out over the past decade.
The recent recession inevitably had an impact on the market for interim managers, however it would appear that the number of managers out of work at any one time has remained the same as it was in September 2009 (around 47%), however managers are more prepared to take on a number of part-time roles to compensate for any lack of demand for their services.
Around 15% of interim candidates are female, and the average age according to the survey is 53. Respondents had an average of six years' experience as interim managers.
Interims in their 30s have virtually disappeared since the recession began, possibly due to a reluctance by individuals in that age group to go it alone in a difficult market.
Interestingly, just 31% of those surveyed are "100% committed to interim management", a much lower figure than was recorded in 2007 - again suggesting that the attraction of 'safe' permanent roles is higher during times of economic uncertainty.
The average daily rate for an interim manger is currently £621, compared to £649 in September 2009. Unsurprisingly, average rates vary according to the seniority of the role, with an IT director/CIO commanding £954 per day on average.
The gender gap has continued to narrow - with women earning on average £604 per day compared to £607 for men. In 2007, the gap was 16% in favour of men.
Billing rates vary by region too - with interims in the East of England earning £699 per day, followed closely by the South East (£698) and Greater London (£691). Further down the list, managers in the North East earn a mere £500 per day for their efforts.
Clearly, demand for interim managers has been affected by the economic downturn, and rates have followed accordingly. Younger interims have virtually disappeared from the market. It will be interesting to see the results of future surveys when the economy has recovered.
For another market snapshot, read the Russam GMS January 2011 report on the interim management market.
Contractor Services
- Professional Indemnity Insurance - Essential cover from Hiscox
- Helix Management Ltd - Up to 90% retention. Same day payments.
- Contract Experts - ClearSky Accounting on 08000 325 326
- InTouch Contractor Accounting - personal service & clear advice
- Parasol - the UK's favourite umbrella company
- Umbrella Company - 12,000 contractors can't be wrong!
- Together we're stronger! - Join PCG, representing contractors
- Cloud 9 Group - Umbrella Solutions only £27.50 per week
- Qdos - IR35 experts - Providers of low cost contractor insurance
- K & B Accountancy Group - Fixed fee contractor accounting only £75pm
- Free IR35 & Tax Review - Call ICS on 0800 195 3750
Related Articles
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
