Interim management pay rates continue to rise

Nearly half of interim managers expect to earn more than £100,000 this year according to new research carried out by an internet recruitment firm that also found that pay rates for freelance senior executives look set to rise again.

The annual survey covered nearly 1,300 interim managers across the UK from 112 organisations and found that pay rates for interim managers hit an average of £685 per day last year.

What’s more, 27% of executives working on fixed-term contracts expect a salary in excess of £125,000.

The study also found that UK businesses and public bodies are at greater pains to recruit exactly the right permanent candidate and are consequently taking longer over the assessment process - which means more work for interim managers.

IT specialists are the third highest paid type of exec - equal with finance but behind turnaround specialist and chief executive roles.

The highest paying industry sector for interim managers is financial services, closely followed by telecoms, technology and business services.

IT roles are the fourth most common by discipline – 11% of all interim managers - with most being employed by telecoms and financial service companies.

When it comes to day rates, the highest recorded for these short-term senior positions was £2,500 whilst the lowest was £180 for short-term managers working for charitable organisations.