For the third year in a row, IT contractors believe that their pay will increase in the coming year according to the latest research from IT "umbrella employer" the giant group.
Just over half of the contractors in the poll (52 percent) expect contracting opportunities to increase in the coming year while 71 percent of those polled expect their pay rates to increase — up six percent on last year's forecast.
This rise in expectation is in line with wider reports across the industry, according to giant group, including the latest IT Directors' survey.
While IT contractors are expecting pay levels to increase, that will come at a cost. More than three quarters of respondents (77 percent) expect an increase in their workload. However, according to the survey this will only come about with difficulty because while three-quarters of respondents expect their workload to increase in the coming 12 months, more than half (52 percent) say they don't have the capacity to increase output.
In the UK, IT contractors are frequently employed by "umbrella companies" which take on individuals and works out all the tax liability of both the company and the employee on behalf of the employee. This situation appears to work amicably enough but continues to be under review by the Coalition Government.