City contractors rake in £50 an hour

Increased spending on security and compliance projects is fuelling this growth, according to research from the Association of Technology Staffing Companies (ATSCo).

Increased spending on security and compliance projects is fuelling this growth, according to research from the Association of Technology Staffing Companies (ATSCo).

IT security experts’ pay rose 22% last year and spending on security ate up 13% of IT budget. ATSCo expects this investment to continue throughout 2006.

During the dizzy heights of the dotcom boom in 2000, city IT contractors raked in £54 an hour, but two years later this had dropped to less than £35 an hour.

This trend for higher contractor wages is mirrored outside the City. A recent survey from contractor specialist Giant Group predicted freelance IT pay would increase over the next 12 months and that contractors would spend less time out of work between contracts.

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