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Over 75% of IT professionals expect remuneration to rise over the next year

Demand for IT professionals in the financial services sector has risen considerably over the past 12 months, according to giant group.


The latest analysis of the service provider’s contractor database found that IT professionals expect the financial services sector to be one of the biggest providers of job opportunities over the next 12 months. Analysis also indicated that the average number of days between assignments is shrinking and 77% of professionals expect remuneration to rise over the next year.


The growing demand has been attributed to increasing awareness of cyber security risks with a recent study by PwC indicating 71% of businesses believe that cyber threats have increased over the last two years.


Matthew Brown, managing director of giant group, said, “The data from our analysis highlights what is already very clear – that there is a shortage of IT professionals operating within the financial services market. This upward trend is one we expect to continue as cyber security becomes a key business focus for the financial services sector. With a reduced number of permanent experts in the market, firms are increasingly relying on the expertise of specialist contractors.


“A recent study from KPMG revealed 57% of UK businesses find it difficult to recruit cyber security staff and with companies in financial services some of the most vulnerable, it’s unsurprising they are looking to contractors to ensure they are not at risk of data breaches.


“The rise in remuneration on offer to contractors also comes as no surprise. These professionals boast a wealth of experience and with the cyber security landscape continually evolving, extensive up-to-date knowledge is vital.”


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