Are Contractor Rates On The Rise?

Contractor rates are undoubtedly one of the most attractive perks of a career in freelancing, as contractors can typically expect to make far more than the average employee in a permanent position would be doing. Sometimes, especially skilled contractors can command rates that may be three times more than the average full-time wage would be, but recent news suggests that many firms are still being advised to up their offers to contracting professionals.

Firms Urged to ‘Up’ Offers to Contractors

Contractor UK suggests that there is often a gulf between the realistic pay expectations of contractors and what firms are willing to pay them, and businesses are now being warned that they cannot expect to secure the services of a skilled contractor without being willing to raise their offers. The concept of a business that wants an extremely large amount of expertise for relatively little money is nothing new, but the fact is that many firms are now being told to ‘up their game or accept a candidate with less of the skills for the money that they are willing to pay’.

Ultimately, successful business ventures are built upon the acquisition of talent, and, if this talent comes at a financial cost, then so be it. The results in the long term should still be worth it. If this attitude is being adopted on a more widespread basis, then contractors throughout the UK could well be in a very strong position, as the calls for such individuals to accept a lower (or even unsuitable) rate will be greatly lessened.

How Can ICS Help?

Contractors rightly expect to be paid good rates for their skill sets, and that fact certainly looks set to continue given the thrust of the recent news. However, inefficient management of a contracting business can soon have a negative impact on your financial situation, and that’s why the professional contractor accountants at ICS are dedicated to providing services that enable contractors to take home as much of their income as possible. From providing administration and payroll services to enabling a contractor to join a reliable umbrella company, we can help in a multitude of ways.

Contracting certainly has a lot of benefits, but ICS can help to make your situation even more positive using our proven services. Our contractor calculator will give you an idea of how much extra you could be taking home with our help, so feel free to contact us now by calling 0800 195 3750 or emailing info@icsuk.com to find out more.