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IT contractors could be in for a pay increase

Contactors across the UK, particularly those working in temporary contractor roles in IT, could be in line for a pay increase despite the recession, according to a recent report.

Analysts, IT managers and system architects who operate on a temporary contract basis could be set to benefit from a pay increase above the standard rate of inflation, according to contractors pay index IQNdex.

Any change in pay could mean a change in how the accounts of contractors are run, or how tax is calculated depending on the change. Accountants for contractors in the Wirral and nearby areas are often called upon to help deal with any changes and to ensure that contractors are in line with legal requirements.

The predicted rises were calculated as part of a report by IQNdex, which predicted that rates for IT contractors would be higher than the national average rate of inflation. Firms across the UK are feeling the pinch in terms of having to increase salaries in line with inflation, but IT contractors seem to be bucking the trend as demand continues for flexible contractors.

However, the green shoots of economic recovery are starting to show and IQN’s group chief executive spoke about how he felt that this was good news for contractors, saying:

“As the economic climate improves, employers will likely shift more of their hiring toward permanent jobs, but it also seems likely that increased reliance on part-time and temporary [staff] will be a more prominent component of the total workforce solution.”

In the meantime, IT contractors have the peace of mind that comes from knowing their services are still in demand.

Posted by Louise
December 17, 2012
Small Business

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