IT contractor hiring is on track to increase 100% in Singapore this year. And they're hiring Europeans

For UK-based technologists, making the leap to a new job in Asia can be as much a risk as it is an opportunity. But would you consider moving halfway across the world for a contract position?

Unlike the UK, the contract market in Singapore has traditionally been underdeveloped, and something of a refuge for junior and menial IT jobs.

However, faced with a need to bulk up their IT teams quickly, banks have been recruiting for more sophisticated and senior roles on a contract basis.

Peter Noblet, regional director, Asia Pacific, Hays, says there's been an increase of 25-30% in the last three months alone. Similarly, Ambika Sinha, manager, IT, Morgan McKinley, has likewise seen a "substantial jump".

The hottest jobs are for project managers, infrastructure managers and data development roles.

And here's the good part - the majority of hires come from Europe and Australia, with expats favoured for the more high-flying roles.

Noblet says that increasing numbers of candidates are taking "calculated risks" on contract positions as an entry point into an organisation with a view to gain a permanent position.

It's worth bearing in mind, though, that rates still lag behind western markets, according to Morgan McKinley's Sinha. This echoes the trend in permanent positions.

Still, the contract market looks like expanding further in Singapore.

In the past year, banks in Singapore have hired aggressively, so permanent headcount is harder to come by.

"Banks now need to bring in specific skill sets for finite periods of time on projects rather than hire someone full-time," says Noblet.