According to new research by reThink Recruitment, pay rates for IT contractors in the north of the country are increasing more than three times quicker than the rates for equivalent contractors in the south.
The report found that northern based IT professionals have witnessed a 6 per cent rise in their average contract rate compared to IT contractors in London, who noticed just a 2.5 per cent increase.
The IT profession has historically been popular with contractors who run their own limited company, although the sector is still attracting first time interim workers who wish to use the services of an umbrella company or straight PAYE at their recruitment agency.
A spokesperson from ReThink Recruitment said that the high cost of living in places like the Bracknell and the Thames Valley is now forcing IT contractors to seriously consider more cost effective assignments where the accommodation fees do not take such a significant chunk out of their contracting income.
The report found that IT professionals in the north can now earn an average weekly income of £625, rising to £640 in some regions. The slower growth rate of rates in the south has been largely attributed to the credit crunch and a reduction in freelance recruitment in the financial sector.
© 2010 All rights reserved. Reproduction in whole or in part without permission is prohibited.
Image: Twitter goes up, Twitter goes down… by Dave Delaney
