IT contractors look to financial services sector for job opportunities

(2 minutes to read)

Recent findings have revealed that IT contractors are looking to the financial services sector for more opportunities.

Umbrella company contractors working in IT are expecting a large number of roles to be created in the financial services sector over the next 12 months, as investment continues to create further opportunities.

According to Giant, ‘many banks are currently heavily investing in technology that can aid them in streamlining capital and liquidity reporting through either in-house developments or off the shelf packages and this is what’s partly behind the demand for IT contractors’.

Of the IT contractors surveyed, 22% have predicted that more job roles will come from the financial services sector within the following year.

Managing Director of giant group, Matthew Brown commented on the results. “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.

“Part of the demand could also be driven by the number of mergers in the financial services sector in recent times. We’ve seen Bank of America and Merrill Lynch join forces as well as the RBS/ABN-Amro merger and these large-scale unions create sustained, long-term assignments in a number of areas.  Not least the huge systems migration projects and change management programmes needed to ensure a seamless changeover.

“We predict this demand will continue to intensify as there simply aren’t enough permanent specialists on the ground at the moment. This is in line with other results from our survey which found that the percentage of contractors expecting a pay increase grew by 6%, reflecting the demand that many professionals feel will be shown."

Simon Dolan is the Sales & Marketing Manager for Contractor Umbrella Ltd, one of the UK’s Most Respected Umbrella Companies and founder member of AllUmbrellaCompaniesAreEqual.
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