A company specialising in placing interim managers has claimed that interim HR executives can command more money than general managers and financial executives.
Russam GMS claims interim HR managers are paid on average £456 a day – more than equivalent production managers who get £281.50 a day, but less than IT specialists who command £498.
The average daily fees for interim general managers and financial executives stand at £428 and £418 respectively.
A survey by Russam shows the market for interim managers is now worth an estimated £500m and is growing at more than 10 per cent each year.
The most senior 15 per cent of interim managers earned £95,000 a year and the top 30 per cent averaged £75,000. The average yearly salary for an interim HR manager was £69,000.
Demand was strongest for interim general managers (24.5 per cent) followed by financial executives (19.2 per cent), sales and marketing executives (13 per cent) and IT executives (12.4 per cent).
Russam claimed the demand has been created by a fundamental business shift towards interim management, which is seen by private and public companies as improving efficiency.
At a time when corporate headcount is low, Russam claims that more senior managers recognise interim management as a serious career option, offering excellent pay and a lifestyle which has many attractions.
The survey reveals that experienced interim managers with a track record of successful assignments can expect to fill about two-thirds of the year with fee-paying work.
But Angela Baron, CIPD adviser on employee resources, said, “Today’s prices do not seem that excessive with the salaries of senior managers and consultants.
By Richard Staines