The average daily rate of pay for interim managers has
dropped over the past 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
shows that 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 and more people were choosing it as
a career. He 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.
The study also shows that younger managers get better daily
pay and more work.
The average working interim manager stays on an assignment
for 4.3 years and is just over 50 years old, with 53 per cent aged between 45
and 55, and 22 per cent under 45.