Freelance rates surging

RATES for freelancers in the financial sector are soaring as firms scramble to get enough risk and compliance experts to cope with a tidal wave of new regulation.

Executive search specialist Kinsey Allen International said day rates for interim managers in the financial sector have climbed 12 per cent so far this year compared to 2010.

Interim managers now charge an average of £725 per day, compared to the previous high of £675 in 2008.

The increase in rates can be attributed to the continuing demand for interim managers with risk and compliance expertise, according to Kinsey Allen.

Financial services firms are grappling with a skill shortage in risk and compliance compounded by new regulations in the wake of the crisis.