According to a recent study, 2015 looks set to be a lucrative year for financial IT contractors and those with finance or banking skills, Contractor Calculator reports.
Recruitment company Michael Page recently released their 2015 yearly Banking and Financial Services Salary Survey, which looked at where hiring in these sectors was headed in the New Year – and it seems that prospects for contractors are looking good.
Despite the increased pressure that many professionals have felt within the financial services industry recently, the report points to next year’s positive economic forecast and the fact that “market confidence is strongest amongst front office banking jobs.”
Andrew Breach, head of the Banking and Financial Services Practice at Page, explained that: “The UK, while not performing to the same level as it US counterparts, is delivering strong results and is substantially outperforming mainland Europe.”
With more banking contractors and employees coming on board, it is expected that this in turn will have a positive ‘knock-on effect’ on financial IT contractors, as they are brought on board to help support new IT initiatives.
The most active areas are likely to be: mergers and acquisitions; leveraged finance; asset finance; debt capital markets; loan sales; corporate banking and investment banking coverage.
With this in mind, Breach advises that these are the areas that contractors should be targeting. What’s more, Contractor Calculator’s CEO Dave Chaplin states that IT contractors who have specialist knowledge in these areas “can expect to stay in contract throughout 2015 on top rates”.
It’s also likely that the hiring market will be very positive, but that it will remain candidate-driven, Breach concluded.