Optimism abounds among finance contractors
The specialist service provider’s latest analysis of its contractor database found that 94% of respondents expect rates to increase or at least stay the same over the next 12 months, while just 6% expect there to be fewer available opportunities. In addition, 85% of finance specialists reported an absolute maximum gap of only 30 days between assignments, indicating that contractors are in particular demand. The majority of this has stemmed from the ever-growing regulatory burden being placed on the sector. Many professionals have also provided expertise for firms undergoing M&A activity as a result of the strengthening markets.
However, interestingly while the majority of respondents are feeling optimistic, it appears there is still a lingering hangover from the global economic recession. Currently, 60% of contractors would favour a long term assignment over the potential to earn higher per hour payment. The analysis also found that the largest group of respondents (45%) took just one week of annual leave during work assignments, suggesting that some doubt remains over the security of their roles.
Matthew Brown, managing director of giant group commented, “The results from the latest analysis are intriguing and highlight that while the vast majority of finance contractors are feeling optimistic about their future, a significant number still hold insecurities in their roles.”
“However, as the market continues to grow and contractors become more in demand, I’m certain that our next analysis will find a smaller proportion of specialists reporting a wish for longer term assignments over higher pay. Many professionals are still obviously scarred by the recession and are worried that the next big crisis is just around the corner. Ultimately, this has been reflected in the lack of annual leave that is being taken and the percentage of respondents looking for improved job security.”