The
average daily rate of pay for interim managers has dropped over the last 12
months but the number placed within companies has remained stable, despite
turbulent economic conditions.
A
survey of 5,000 interim managers across a range of sectors reveals pay has
steadily fallen from an average daily rate of £511 in 2001 to £473 at the end
of 2002.
General
managers have been the worst hit, with their daily rate falling by 21 per cent,
due to a 2 per cent drop in vacant jobs and tougher competition for positions.
Charles
Russam, chairman of interim management firm Russam GMS, said the interim market
was holding up well and more people were choosing it as a career, rather than
finding themselves in it.
Russam
said the level of employment is higher than he expected – research shows that
the number of managers currently on assignment has risen slightly to 48 per cent,
compared to 47 per cent six months ago.
“I
was surprised by the level of employment because the perception was of a market
going down,” he said.
“However,
pay rates are suffering because of competition and for the first time in a long
while, prices will have a material bearing.”
The
study also shows that the average age of interim managers is falling and, in
general, younger managers get better daily pay and more work.
The
average working interim manager stays on an assignment for 4.3 years and is
aged just over 50, with 53 per cent aged 45-55 and 22 per cent under 45.
