If you're interested in knowing how much you can earn on a daily basis in a contract IT role in London, either within or without financial services, then new hyper-comprehensive technology contractor pay survey from recruitment firm Hays will leave you saturated with more pay data than you knew existed.
The charts below show Hays' pay figures for London-based technologists and developers working on a contract basis both within and without the financial services industry, ranked according to the highest and lowest paying roles. They're based on daily rates and don't reflect bonuses, as contract workers don't workers don't typically receive them, but they are a good indication of who gets paid the most. [The charts are best read on desktop. Use the buttons at the top to scroll through the pages.]
While Hays' figures aren't entirely comparable between banking/fintech IT jobs and IT jobs in other sectors, it still looks like banking technology jobs pay the most. The average daily rate for banking technology professionals is 15% higher than in other industries, and specific roles are more remunerative in finance. For example, heads of IT security and data architects earn 20% more in banking/fintech than other sectors in London. Data engineers earn 40% more.
Hays says skills shortages are "rife" across the contractor market, and that financial services firms in particular are investing in data expertise as they migrate from on-premises data warehouses to cloud data solutions. They say that the proliferation of transformation projects in financial services means that transformation specialists can command higher pay in finance than elsewhere.
If you're a developer in finance, there are few things to observe. - Hays says you'll earn the same whether you're coding in Java, Python, C# or C++. You'll also earn the same £650 a day if you're a cloud engineer. Only data engineers make more, at £700 a day.
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