SJD Accountancy

Contractors working outside London aren’t necessarily sacrificing earnings

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Although many people might think of London as the place where you are likely to find the most highly paid contractors, a recent survey has revealed that the capital may have competition when it comes to the location of the ‘elite’ contracting roles. The research was conducted by a company which works closely with contractors and discovered that, of its top fifty contractors, thirteen were based in the North East of the UK. This makes it one of the hottest spots in the country for the highly paid contractors which have been described as ‘elite flexible workers’.

The news is even more encouraging for those working in the North East by the fact that, of the top fifty, thirteen were in London, meaning that the capital is actually level-pegging with the North East. Commentators have put this down to the skills base in the region, which has been described as ‘impressive’ and goes some way to putting paid to the idea that the top talent always finds its way to the south.

There is also good news for those who might think that they are over the hill when it comes to contracting: contractors aged between 45 and 54 are commanding the highest rates. This may seem like common sense, given that those who have been working for longer are likely to have more experience and more refined skills, but there has been some concern over the prospects for those who are closer to retirement age. But it seems that the market has recognised the potential of those who have experience in industry and can bring their unique skills to the table when companies need them.

The study shows that forty per cent of the ‘elite’ contractors were in this age bracket, proving that veteran professionals may well hold the answer to the UK’s skills gap. Although those in traditional employment can be expected to reach their earnings peak at around this age, there has historically been a concern that a contractor seeking a new project may find their age a hindrance to being offered a position. However, it appears that employers are recognising the vital importance of older contractors and are keen to offer them the opportunities that their expertise and capabilities deserve.

If you are considering a career in contracting, then our contractor case studies are an invaluable resource for anyone who wants to get to grips with what life is really like for an independent professional. If you want some ideas of the best way to find work as a contractor then we have ideas which could help you establish yourself in your sector and land more profitable projects. 

As experts in representing contractors, we are able to offer advice and information on every aspect of contracting from considering the advantages and disadvantages of a Limited company to planning for the future.

If you are a contractor and want someone to help you organise your finances, then give our New business team a call on 01442 275789 or send us an email to newbusiness@sjdaccountancy.com.

 

For all other news please visit our Contractor News hub, or why not join us on Facebook and follow us on Google+ for all the latest contractor news, views, debates and competitions. 

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