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IT contractors’ daily rates two times higher than annual salaries, finds

IT contractors' daily rates are two times higher than annual salaries for equivalent jobs, according to's Contractor Pay Reports.


The report, which is based on’s existing data pool of contractor data, has been used to highlight the best paying sectors and IT languages. It used this information to see how it compares being a contractor versus a full time employee.

Best paying sectors for IT contractors:


Contractor daily rate

Full time daily rate

Banking & Financial Services



Media, Communication, Music, Gaming



Technology & Telecoms



Based on 49 Contractors UK Senior Developers and 622 UK Full-time Senior Developers 












Across all industries, contractors' daily rates are two times higher than annual salaries for equivalent jobs. If hesitating between the two, however, Emolument says it is key to factor in job security, visibility when it comes to projects, and employee benefits.


Banking now accounts for almost a third of all contractor positions. Emolument state that banks have employed IT contractors to build new systems both for support and front office functions, in order to streamline and automate banking activity.

How do years of experience impact pay? 

Years of Experience

Daily Rate









Based on 155 UK IT Consultants 


The report found that experience does have an impact on pay. In the report, an IT consultant with 0 to 5 years’ experience had a daily rate of £290 while a consultant with 15 or more years’ experience earned £570 per day.


Top paying languages

Coding language

Daily Rate







Based on 49 UK Senior Developers

The report found that for both contractors and full time employees, Java is the best paying language across all industries.


Alice Leguay, COO & co-founder at, said, "As IT moves from a support function to a key centre of product and business development, banks worry more and more about paying their IT staff - both permanent and contracting - accurately, which is proving a difficult exercise especially with contractors who have wildly fluctuating day rates. Hence why we felt the need for a reliable and detailed output for contractors' salary to provide pay transparency to employers and contractors as we have done for years for full time positions. Forget about banks being involved in a tug of war for traders or M&A executives, the IT developer is the new hot property."



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