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These are the areas where IT contractors are most likely to secure a rate rise

Life for technology contractors in the City is hard at the moment. The vast majority have simply decided to accept last year's 10-15% rates cuts and stick with their current employer, largely because of a lack of opportunities elsewhere.

While there has been no sudden reversal of fortunes so far on 2012, there are certain sectors where demand is holding up and days rates are proving resilient.

"It's natural for contractors seeking a new opportunity to try and secure a rate rise, but there are only certain skill-sets or areas of the business where this is possible," says Martin Rennison, head of investment banking IT at recruiters JM Group. "However, because there are so many good people on the market, most people are unsuccessful."

So, in which roles are you more likely to receive a rate rise?

1) Risk and regulatory projects

Investment banks are, of course, grappling with a range of regulations that require a technological overhaul. As we've mentioned previously, these are not a particularly popular choice for IT professionals, with many employees seconded away from front office projects to work on these mandatory, yet unexciting, regulatory initiatives.

"Most people working on regulatory programmes have been ring-fenced against any cuts, and banks are still hiring contractors for this area," says Ben Cowan, director at Astbury Marsden. "Rates have held up well."

2) Commodities

If you're an IT contractor working on and oil and gas or energy programme, you've long been able to haul in lucrative day rates, particularly those with https://news.efinancialcareers.com/13190/can-you-really-earn-1200-a-day-as-an-openlink-developer Openlink expertise. While demand may no longer be sky high, it remains "steady and stable" suggests Rennison, and rates have remained relatively consistent.

3) Information security

Whether it's threats from malware, hackers or their own employees, banks are become increasingly vigilant about the possibility of threats to their information security. While most firms are taking more people on for permanent positions, banks are also drafting in the services of contractors for specific projects around information security.

They are generally willing to pay market rate for these roles (around £300-400 a day for IT auditors and £500-700 a day for information architects), but they're also looking to other industries with large amounts of data to protect, such as law, suggest recruiters.

4) Change management

Most banks are now trying to leverage IT to make their operations more streamlined and change management professionals have been drafted in. In particular, SixSigma Black Belts are particularly in demand currently, suggests Cowan, although this is not limited to technology.

"Banks are looking at the processes they have in place and want people to manage how IT can help make things more efficient," he says.

5) Digital expertise

On the scale of things, the day rates offered by financial services organisations for technologists to develop apps for smart phones and tablets aren't massive. Generally, they tend to come in at £300-500 a day, and a lot of roles within banking IT pay decidedly more.

However, the fact the banks are hunting for this talent from the digital media sector means that these rates are decidedly higher than these technologists can expect elsewhere.

"A lot of financial organisations, from spread betting firms to investment banks, are looking to take these people on and they're willing to pay a premium," say Rennison.

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AUTHORPaul Clarke

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The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.