Guide to the latest IT Contractor Rates

Over the past five years, the amount of work billed by interim managers has almost doubled, according to a recent Ipsos MORI survey.

Strong private sector demand for interims

The survey, which was carried out by the Interim Management Association established that the total amount billed by its members had risen significantly every year since 2006 (2010 aside).

According to the poll, the average contract duration had increased from 108 to 166 days from 2006 to 2011.

In 2009, 55% of all interim contracts were in the public sector, compared to a mere 34% - an unsurprising result of across the board cost cuts.

Interims also earn more in the private sector. The current average daily rate is £644 compared to £543 in the public sector.

Most contracts assigned to interim managers are in the financial sector (39% of placements), followed by assignments in chemical, pharma and biotech (11% of placements).

The benefits of contract interims for organisations

Commenting on the figures, Jason Atkinson, chair of the IMA outlined the benefits interim managers can provide:

"Organisations are increasingly turning to interim managers, because they are cost-effective and produce results quickly. These 'top flight' executives provide board level independent business leaders or project managers, who are experts in their field, with a track record of quantifiable achievement. And they can be turned on and turned off immediately to meet demand. Compare that with the lengthy process of hiring someone on a full-time basis and then having a permanent and - often expensive - extra member of staff."