IT contractor rates up 3.3%

IT contractor rates up 3.3%

A boutique hiring firm placing contractors solely in FS says it’s hard not to notice on London’s Square Mile the virtual replacing the physical, which it confirmed is buoying rates.

'City firms scrambling for high-quality IT project folk’

“We’ve seen an ongoing scramble for high-quality IT project folk, ever since the pandemic, as many on-premises City firms shift to the Cloud,” says the firm, Bowers Partnership.

“So yes, rates have held nicely for the in-demand skillsets. Think project managers, developers -- and the more BI-focussed the better. And all contractors in Data and Cloud.”

The firm’s managing director Natalie Bowers says she doesn’t like to mention IR35, “but it is fact that we’ve seen rate inflation since the dreaded private sector off-payroll rules hit.”

End-clients have been known to stump up more cash to compensate for limited company contracting being potentially much more taxing under the rules.

But the framework of April 6th 2021 (and the framework of April 6th 2017 in the public sector) now acts as financial rub for many.


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