Faith in contract IT jobs back to pre-recession levels

September 5, 2014

IT contract jobs are seeing a resurgence in faith. That the word from a survey conducted by the multi-sector employment group, giant. In the report, giant found that only 17 percent of those queried made job security their first priority in looking for a new job.

Contractors feel good about pay and benefits
According to giant, IT contractors feel that there will be many opportunities opening for them during the next several months to a year.  A number of the contractors said they were looking at the world of finance for more job opportunities. New legislation aimed at banks and bankers is the reason being given for the projected increase. A continued uptick in regulatory practices has companies looking for qualified professionals who can take current infrastructure and combine it with newer and complex platforms.

Optimism abounds
According to giant, two-thirds of IT workers felt they would see pay hikes in their future while five percent felt it would go the opposite way with cuts taking place across the board. Other sectors are also feeling some optimism with contracted health care workers seeing double the opportunities they had in 2013. 18 percent believe they'll  be filling the so-called skills gap as contractors, not full-time employees. A Clifton, Larson, Allen report showed that small business growth has led to higher confidence and increased hiring amongst owners and managers. The CLA study showed confidence is at its highest point in 7 years and that's good news because hiring is driven by this area of industry.

Hikes in lending continue
More positives to take from the CLA report was that consumer and business lending is on the upswing. Large bank reserves for lending, said the study, should garner the attention of the Federal Reserve. If the Fed were to use some excess cash for loan purposes a resurgent economy could receive an additional boost, said CLA.

IT workers cited continued and on going investment as reasons they have opted to move into contracting, according to giant. Twenty-two percent of those IT contractors said they believed that more job opportunities would come their way from the financial realm, alone, in the next year. Matt Brown is the giant group's Managing Director and he said the numbers are indicative of a strengthening economy.

"It's exciting, if unsurprising, to see IT professionals in financial services being so sought after, given the ongoing investment in the sector. The majority of the demand we're seeing is for contractors with specialist technical skills as many businesses are investing in their reporting systems," Brown explained.

So it's good news across the board and even better news for IT contractors. Now's the time to put your skills out to bid while the economy continues to rebound from the last recession.