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The financial services arena continues to suck in contractors from the IT sector, according to giant group.

The umbrella employment specialist’s latest analysis of its contractor database found that the number of professionals operating in the financial sector has grown for the past two years. In addition, almost three quarters of IT contractors expect their earnings to increase over the next 12 months.

Matthew Brown, managing director of giant group, commented on the findings. “ It’s hardly surprising to find that more and more IT specialists are operating in the financial space. The ever-growing regulatory burden combined with demand for professionals in new areas like cybersecurity has meant that specialists have been sought after by firms across the sector.”

“This trend has been taking place for some time, but the growth of online banking and rising smartphone use have really intensified the demand for these professionals. More and more consumers are choosing to manage their finances online and this has created a need for specialists who can design and create these complex systems. With these skills extremely hard to come by in the market at the moment, contractors have been highly sought after, which also explains the increase in rates that so many professionals have reported.”

Note to editors

Since 1992, giant has developed and delivered groundbreaking workforce management solutions to the recruitment market:
• award-winning giant umbrella is the professional umbrella employer of choice for temporary workers, freelancers and contractors. Independently voted Best Umbrella employer five times by readers of Contractor UK.
• giant precision is a suite of global back-office solutions designed to enhance your company’s performance. Through web-based services, giant precision spans HR contract management, timesheet management, payroll, billing and payroll disaster recovery.

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