Contract and permanent hires hit all-time high in UK fintech sector
Demand for contract and permanent hires is increasing rapidly among UK fintech companies, according to new research from recruitment finance provider, Sonovate.
Job advertisements for contract roles increased by 64% quarter-on-quarter (QoQ) and individual roles have become highly sought after. Roles are being advertised at an average day rate of £430.
The highest volume of postings were for IT positions, which saw a 35 percent QoQ rise and were advertised with an average day rate of £460. Consultancy positions recorded 525 percent QoQ growth, with an average day rate of £475.
Richard Prime, co-CEO of Sonovate, said, “2015 was a crucial year for UK fintech: while it’s been a cornerstone of our financial and technology markets for a while, we’ve seen clear increases in the industry’s overall investment, growth, and economic contribution.”
He added, “These increases have translated to a surge in advertisements for contract roles. The market for this kind of interim, project-based work is in rude health, and the prospects of those seeking more long-term employment have also improved.”
The research also indicates a 732% YoY rise in listings for permanent roles, a 57% QoQ rise, at an average salary of £58,000. As with contract positions, IT and consultancy are the top two positions advertised in terms of overall postings, and have seen growth of 61% and 157% respectively.
“More jobs, more money, and more growth," Prime stated. “The fintech employment market is experiencing a global boom at the moment – and the UK is at the forefront.”