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Project managers expect contract rate drops in 2009

Published on Jan 13, 2009 | | Contract Rate Checker

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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.

Project manager survey findings

The PM7 2009 annual associate survey found the following:

- A staggering 59% of respondents believe that demand for their skills in 2009 will decrease from 2008 levels. A year ago, the same survey found that only 8% had this belief.

- The outlook on contractor day rates is no better, with nearly two thirds of respondents expecting their day rates to drop in 2009. Of those expecting a drop in rates, nearly one in five expect the rate decrease to be 'severe'.

- Overall, of the independent contractors who completed the survey, 40% are budgeting for no more than 9 months work this calendar year. Half of these expect to have contract work for no more than six months of the year.

- When asked how they intend to approach the predicted downturn in 2009, almost 50% of respondents replied that they would look for permanent work. PM7 say that this is a surprisingly large amount, given the notoriously independent and flexible nature of contract Project Managers. It will be interesting to see both how they fare in the permanent job market and the affect it may have on
competition for permanent roles.

- Of the other approaches being considered for avoiding the downturn, a worrying 10% would consider leaving the project management profession entirely.

For more detailed findings from the PM7 survey, click here (PDF).