Project management is one of the new industries that over the last ten years have embraced contractors with open arms. Companies looking to downsize, streamline or save on expenses are looking to outsource their project management requirements.
Like engineering, project management is perfectly suited to the contractor industry. Projects have structured time frames allowing companies to hire a contractor for a set period. The company can then save money by not retaining so many permanent members of staff. In turn the project manager can charge much higher rates as they don't cost the company so much in the long term.
Average rates of pay for a Project Manager contracting in the UK are between £55-65 per hour or a daily rate of over £400. This is obviously dependent on your experience and where in the UK you are based but as contracts can often last for up-to a year or longer, there is a lot of value in contracting.
With rates of pay this strong and coupled with the freedom of being a contractor, the reasons to enter contracting as a project manager keep growing and growing.
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