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IT Contractor Rate Trends / News

Lloyds Banking Group slashes contractor rates, offshores jobs to India
IT contractor rates at Lloyds Banking Group have been slashed by 15%. Simultaneously, the bank has offshored record number of jobs to India.
(Jun 30, 2009 in IT Contractor Rates )

Financial IT contractor offers up, but no overall recovery yet
New figures suggest that the worst may be over for IT contractors in the financial sector, although a wider recovery may be some way off.
(Apr 28, 2009 in IT Contractor Rates )

Fujitsu IT contractors latest to suffer contract rate cut
Contractors at Fujitsu are the latest to be told to accept a 15% rate cut.
(Apr 23, 2009 in IT Contractor Rates )

How contractor developer skills are faring in the 'downturn'
We look at how the demand for IT contractor developers has changed over the past few months.
(Apr 23, 2009 in IT Contractor Rates )

Number of IT contractor jobs advertised plummets
The number of IT contracts advertised has fallen by a third over the previous quarter, and by a shocking 62% since the same period last year.
(Apr 21, 2009 in IT Contractor Rates )

BT cuts contractor rates by up to 30%
BT is to cut contractor rates by up to 30% following poor results from its IT services division.
(Apr 13, 2009 in IT Contractor Rates )

Clients putting pressure on contract rates
A top 20 agency reports that clients are exerting pressure on contract rates due to the poor economic environment.
(Apr 8, 2009 in IT Contractor Rates )

Demand for good quality IT contractors strong in 2009
Leading recruitment agency, Robert Walters, has published its latest salary survey which suggests that the demand for high quality contractors may actually increase in 2009.
(Apr 3, 2009 in IT Contractor Rates )

Aviva to lay off 590 contractors
Over 1000 permanent staff and 590 contractors are to be axed from Norwich Union Life over the coming months as another company cut costs in the face of the economic downturn.
(Apr 3, 2009 in IT Contractor Rates )

Now public sector prepared to slash contractor rates
Following on from cuts at many of the UK's largest companies, now Leeds City Council has decided to slash its IT contractor rates.
(Apr 2, 2009 in IT Contractor Rates )

Independent consultant contract rates up despite recession
Despite the economic slowdown, a new survey suggests that self-employed consultants are actually commanding higher daily rates than they did last year.
(Mar 24, 2009 in IT Contractor Rates )

Leading agency reports sharp drop in contractor numbers
Just months after announcing solid results for 2008, one of the leading contractor recruitment agencies - SThree - has reported a sharp drop in contractor numbers over the past quarter.
(Mar 9, 2009 in IT Contractor Rates )

Microsoft contractors to suffer 10% rate cut
Microsoft's US contractors are the latest to feel the pinch as they have their contract rates cut by 10%.
(Feb 26, 2009 in IT Contractor Rates )

BP IT contractors latest to suffer contract rate cuts
BP is the latest company to tell its IT contractors to accept an across-the-board rate cut, or find themselves alternative work.
(Feb 20, 2009 in IT Contractor Rates )

Capgemini IT contractors the latest to take rate cut hit
Capgemini is the latest firm to tell its contractors to take a 15% rate cut or face the chop - this will affect contractors on its 'Aspire' contract with HMRC.
(Feb 8, 2009 in IT Contractor Rates )

Demand for IT contractors down by over 25%
The latest SSL survey shows that the decline in advertised IT jobs is approaching levels last seen 18 years ago. IT contractor demand is down by nearly 27% on the previous quarter.
(Jan 26, 2009 in IT Contractor Rates )

Project managers expect contract rate drops in 2009
New survey results show that project and programme managers are pessimistic about the year ahead, with many prepared to become permies or even leave the profession in 2009.
(Jan 13, 2009 in IT Contractor Rates )

Demand for permies and contractors slumps in December
The latest "Report on Jobs" shows that the demand for permanent and contract staff has severely declined over the past few months.
(Jan 12, 2009 in IT Contractor Rates )

Sharp drop in financial services IT contract offers
Statistics released by a pre-employment screening firm show that job offers for financial services IT contractors dropped by a massive 75% towards the end of 2008.
(Jan 5, 2009 in IT Contractor Rates )

IT contract rates - some of readers' views
Some recent feedback from our visitors about the current state of the IT contracting market.
(Dec 17, 2008 in IT Contractor Rates )

Contract rates continue to fall dramatically
There is growing evidence that average contract rates have fallen dramatically over the past quarter, with more contractors on the bench and those in contract often asked to take a mandatory rate cut.
(Dec 7, 2008 in IT Contractor Rates )

New contract offers dive in financial services sector
Research carried out by a pre-employment screening company shows that the demand for IT contractors in the financial services industry fell by nearly half during October.
(Nov 10, 2008 in IT Contractor Rates )

JP Morgan joins other banks and cuts contractor rates by 15%
JP Morgan joins a host of other banks and slashes its contractor rates by 15%.
(Oct 30, 2008 in IT Contractor Rates )

Financial services contractors suffer 12% rate cuts
A new report shows that financial services contractors have seen their average rates slashed by 12% over the past 12 months.
(Oct 6, 2008 in IT Contractor Rates )

Are IT Contract rates on the slide?
With the media reporting 24/7 doom and gloom on the UK's economic prospects, is there any evidence that rates have started to drop within the contracting industry?
(Sep 23, 2008 in IT Contractor Rates )

Now HBOS permies feel the heat as jobs cut in IT division
Following recent IT contractor rate cuts, 5% of the permanent IT staff at HBOS are to be culled as part of a "streamlining" process.
(Aug 19, 2008 in IT Contractor Rates )

Further rate cuts for City banking IT Contractors
IT Contractors at two more major banks are being subjected to across the board rate cuts, as the banking downturn continues.
(Aug 5, 2008 in IT Contractor Rates )

Contract rates - How much will you earn as an IT Contractor?
A guide to IT contract rates - what hourly rate can you expect as an IT Contractor, and key rate resources.
(Aug 1, 2008 in IT Contractor Rates )

Contractors could be in favour as companies avoid recruiting new permies
According to an interim management recruitment specialist, the winners in the credit crunch are likely to be temporary staff, contractors and interims as companies try to avoid adding permanent employeers to the payroll.
(Jul 29, 2008 in IT Contractor Rates )

Demand for engineering contractors set for a strong 2008
A recent poll of engineering contractors reveals that 63% believe their contract rates will rise over the next year, despite the effects of the predicted economic downturn on other sectors of the economy.
(Jul 2, 2008 in IT Contractor Rates )

Recruiter predicts good 2008 for public sector contractors
Leading IT contractor recruiter, Parity, has predicted a promising 2008 for public sector IT, despite the so-called "credit crunch".
(Jun 24, 2008 in IT Contractor Rates )

City banks slash IT contractor rates
According to a leading tech website, a major city bank has asked its IT contractors to take a 10% rate cut or a quick exit from the company. Another bank imposes an 11% cut on its contractor workforce.
(Jun 2, 2008 in IT Contractor Rates )

Reader's Question - Is it a good time to enter the IT Contracting world?
We recently received an email from a permie who is considering going contracting. He was concerned about the state of the IT Contracting market and if he should leave his current job before searching for contracts.
(Apr 29, 2008 in IT Contractor Rates )

IT Contractor rates remain static in final quarter of 2007
IT contract rates remained static during the final quarter of 2007, although there were apparent changes within regions and skill-sets
(Apr 17, 2008 in IT Contractor Rates )

IT bosses cutting back on contractors
A recent poll suggests that the "credit crunch" has made IT contractors a less attractive option than permies, as IT chiefs are forced to reign back on spending.
(Apr 16, 2008 in IT Contractor Rates )

Engineering contractor rates set to rise due to high demand
Hourly rates for engineering contractors are expected to rise in 2008 due to the buoyant demand for their skills, according to a recent poll.
(Apr 10, 2008 in IT Contractor Rates )

More IT Contractors 'on the bench', but joblessness remains low
New research suggests that the number of IT Contractors 'on the bench' has begun to rise as the 'credit crunch' begins to hit home, but contractor unemployment remains very low.
(Apr 4, 2008 in IT Contractor Rates )

Oracle contractor jobs market expected to grow in 2008
Oracle IT contractors are likely to enjoy an increase in demand for their skills in 2008 according to a leading contractor job site.
(Feb 26, 2008 in IT Contractor Rates )

Project Managers take rate cuts as economy cools
Fears of an economic downturn are forcing top project managers in the digital, telecoms and media industry to cut their contract rates, according to new research.
(Feb 12, 2008 in IT Contractor Rates )

Financial Services IT contractors see rate hike despite credit crunch fears
Despite the media frenzy following the "credit crunch", IT contractors working in the financial services sector have seen an 11% rise in contract rates over the past six months.
(Feb 1, 2008 in IT Contractor Rates )

IT Contractor rates expected to rise during 2008
Most IT Contractors expect to see their rates rise by 5-10% over the coming year, according to new research.
(Jan 8, 2008 in IT Contractor Rates )

SAP IT Contractors can look forward to a good 2008
SAP skills look set to be the most in demand in 2008, according to a leading IT contract recruitment site.
(Nov 23, 2007 in IT Contractor Rates )

IT contractors see a 5% increase in hourly rates
The findings from the latest SkillsMarket/ATSCo iProfile Skills Survey showed a continuing increase in the reported hourly rates of IT contractors
(Jun 11, 2007 in IT Contractor Rates )

IT Contractors forecast 10% rate hike in 2007
More than half of the UK’s IT contractors expect an inflation-busting rate hike of at least ten cent in 2007
(Jan 29, 2007 in IT Contractor Rates )

IT Director pay surges past 80/hour mark
A surge in demand for interim IT Directors, as organisations kick-start new IT projects, has pushed pay up 34% over the past year to £80 per hour, according to new research.
(Jul 26, 2006 in IT Contractor Rates )

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