Contractors in the education arena have noted an increase in hourly rate despite a drop in pay preference, a survey by professional employment provider, giant group, has revealed.
According to the survey, Temporary recruitment market report: what was the impact of the financial crisis? the financial crisis had an unexpected impact on education contractors.
During 2008 and 2009, 22% of those surveyed reported higher income was the most important factor influencing their move to contracting. As individuals recognised the sectors need for budget cuts, figures for the last financial year indicate a significant drop in this stat, with only 14% citing money as a reason. Lifestyle and freedom remained the biggest influencer throughout the recession, though, as more individuals recognised the personal value of this flexible opportunity.
Despite cutbacks to statutory pensions and pay within permanent education employment, hourly rates for contractors have actually increased. As more permanent staff leave the sector, experienced individuals able to fill job gaps are in demand. Those receiving between £25 and £50 per hour have risen by 7% since the beginning of the recession.
Matthew Brown, Managing Director of giant, commented on the report, “The shift in mindset the recession has created in education contractors is interesting. At a time when money and security increased in priority elsewhere, professionals in this arena have moved more towards a preference of lifestyle. Whether this shift will remain in the longer term, though, is debatable.”
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