Insurers are trying to lure change management contractors into permanent roles, here’s what you can expect to earn

Insurance firms, like many other areas of the financial sector, are in the midst of huge transformation initiatives covering everything from operations to IT to business and finance change management projects.

Not surprisingly, they’re keen to recruit PMOs, programme managers and change managers across a variety of business areas to help implement these initiatives.  However, much like the banking sector, insurance firms are trying to persuade those on lucrative contract rates to make the move into a permanent role.

“There’s been a huge push to try and bring contractors into permanent positions,” says Georgia Sutton, consultant, project and change management at insurance-focused recruiters High Finance Group. “On the one hand, it’s more cost-effective, but the main motivation is to ensure that the business knowledge is retained in-house.”

Assuming you’re thinking of moving into a permanent role, what sort of package can you expect? Figures from Astbury Marsden suggest that £170k is possible for programme managers on a permanent basis, while contractors earn on average £168k per year. Perhaps the security and benefits offered by a permanent position makes it more alluring.

Here’s an indication of other change management packages on both a permanent and contract basis in insurance: