PAYE umbrella contractors with experience in the digital IT skills market have good reasons to be cheerful, following the latest quarterly jobs index released by specialist recruiters JM Digital.

Over the last twelve months, the report reveals, demand for digital skills has ‘exploded’, with the financial sector in particular attracting experts in digital IT contracting through lucrative pay offers that can be up to 25% higher than those offered by other sectors. Remarkably, this burgeoning success has taken place against the backcloth of an otherwise moribund economy.

JM Group CEO David Pye said: “The demand for digital projects has never been so great but the problem companies now face is the shortage of digital skills available. Over the last six months we’ve seen a crossover of digital contractors moving from agencies into the financial sector. This has been a real issue for companies which are unable to compete with the rates these banks are offering.”

The head of JM Digital, David Young, confirmed that banks have indeed lured digital IT contractors not only with significantly more money but with better working hours too, which are often appreciably less than the consultancy sector usually requires. Candidates are also attracted by the challenge of the banking sector’s high levels of complexity, he added.

Not all candidates are suited to the banking world’s corporate culture, he continued, and while pay is less spectacular in the digital media sector, “it is still very good.” The working environment tends to be more relaxed without compromising on creativity, Mr Young explained, adding that digital IT contractors offering expertise in mobile/tablet platforms can expect to command around £500 per day.

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