Itís official, the IT market is improving - says iProfileStats

The latest findings from the iProfile Skills Survey (Quarter 4 2003), produced by iProfileStats and commisioned by ATSCo, reveals that IT contract rates have finally seen an increase of 3.3% since six months ago. This followed a rise in permanent salaries that occurred during the previous six months.

From a baseline figure of 100 (Q2.2002) permanent rates initially fell by 3% but recovered dramatically during the middle of last year to show a net increase one year on of 6%.

In contrast, contract rates fell more dramatically, reading a 10% decline by the middle of 2003. They have, however, finally begun to recover, reading a 3% increase since Q2 2003.

Daniel Elkins, CEO of iProfileStats (a division of TheSkillsMarket), commented: ìThis is good news for the market, as it finally proves that things really are on the up. iProfile Compatible agencies have, in general, been telling us that they are getting busier as demand for IT staff is now on the increase. As expected, IT professionals in permanent roles were the first to see an improvement in pay rates in the middle of 2003. Contract rates, however, continued to fall throughout all of 2003 and it is only now that we are starting to see an improvement.î

The overall median salary of an IT professional in a permanent role is now 34,000 per annum and for an IT contractor it is 37 per hour.

iProfileStats also asked a number of leading IT recruitment agencies about their experience of the IT marketplace during 2003 and the consensus was that there had been signs of improvement (see quotes overleaf).