Contractor pay rates are on the increase, with accountants continuing to earn more than they were last year.
Overall contract rates rose 4.3% in London and 3.7% across the UK. For accountants, these increases have been even more marked – pay rose 7.8% in London for these professionals.
Increases at all levels
In London, daily rates are now around £250 per day for newly-qualified accountants (compared to £203 a year ago), £350 - 400 per day for group accountants (compared to £250 a year ago) and £220 - 250 per day for financial analysts (compared to £210 a year ago). Although these figures are at the top of the salary bands for each role, typically vary according to employer (and industry) and are subject to you having the required skills and experience, they give a good indication of market trends at the moment.
What skills do I need to get a pay rise?
These results clearly highlight where the recruiting businesses' priorities lie at the moment. If you can deliver improvements, drive efficiencies and have a proven track record of providing return-on-investment, you will receive competitive offers in this market. You will also be in demand if you are forward-looking and have the commercial skills to help the business retain and gain market share.
Financial controllers are being hired as companies look for senior professionals to liaise with the board. Financial analysts are also in constant demand, especially in the media and FMCG sectors. So, if you have relevant experience in these areas, now is a particularly good time to be seeking contract work. You can read more about the latest skills in demand in our jobs forecast.
Some rates remain stable
When you are looking for a new job, something to bear in mind is that there is still a strong focus on costs. So while we have seen increases in isolated areas, the majority of rates have remained relatively stable. Most job seekers are realistic and are now more open to Fixed Term Contract (as opposed to daily rate) arrangements.
Find out what you're worth by reading the latest edition of our Salary Survey here