Over the past couple of years, client companies have limited overtime, reduced the number of hours an IT consultant can work in a week, and even rolled out pay cuts. IT staffing firm bill rates are down; therefore IT contractor pay rates have been lowered as well. All of which are a result of the terrible recession that our nation has been fighting through for the past two years.
However, IT recruiting has experienced a change over the past 6 months. Client bill rates are steadily on the rise, resulting in higher pay rates for IT consultants. Here’s an example from this IT staffing firm: Last June, our client hired a .NET Developer for a 6-month engagement for $70/hr. Almost exactly one year later, our IT recruiters placed a .NET resource for $85/hr with the same client. He had a similar background and experience level. The difference in rate is significant, and it maybe be an indicator that the worst should be behind us. Overall, IT staffing companies across the country are reporting an increase in contract and permanent hiring. As the demand increases, IT contractor pay rates will climb. The economy is heading back in the right direction – and although it will still take some time – there is finally light at the end of the tunnel.