IT pay rising

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Pay for technology contractors working in the City continues to rise, say recruiters. Many contractors working in the sector are now earning 400 or more a day.

"Pay has gone up in the past few months," says Richard Lett, head of banking IT at recruitment firm Jonathan Wren. "It's not a big increase, but 400 a day is now quite normal."

New research by the Association of Technology Staffing Companies (ATSCo) confirms the trend. Cited on IT site finextra.com, it found freelance IT contractors in the City now earn an average of 50 an hour for the first time since the September 11th terrorist attacks.

ATSCo predicts pay for financial services IT contractors may rise further in 2006, driven by bumper profits in the City and increasing expenditure on security and compliance. It says pay for IT security experts rose 22% last year.

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