HR interim manager pay rises again, according to new research

The average daily rate for interim managers ñ experienced executives working on fixed term contracts in commerce and industry, banking and the public sector ñ rose to 685 in 2006, up 100 per day since 2004. According to the survey of nearly 1300 interim managers and 112 companies, financial institutions and public bodies across the UK, the highest rate paid was 2500 per day in sharp contrast to 180 per day earned by a short-term manager working for a charitable institution.

According to the survey which is conducted on an annual basis by interim recruitment specialists, Praxis Executive, the highest levels of pay were reported in the financial services industry, followed by telecoms, IT/technology, business services, transport/logistics and the media. The lowest paying sectors were utilities, food and drink, retail, automotive, manufacturing and the public arena. However the gap between high and low paying sectors remained fairly small. Only around 100 separated average daily rates in the top paying sectors from the lowest indicating a move towards a national benchmark for interim reward.

Perhaps not surprisingly given the rates on offer, 45% of the interim managers expected to earn over 100,000 in 2007, while 27% expected to earn more than 125,000.

Despite the apparently high cost of employing an HR interim manager, organisations in both the private and public sectors continue to find them good value for money,î says Jeremy Finch, managing director of Praxis Executive, ìdue to their levels of qualification and experience, particularly when compared with management consultants.î As one corporate respondent to the survey put it, ìIf youíve got a choice between some know-all straight out of business school and someone who has been there and done it, you donít really have a choice at all.î

Over 70% of the 1522 assignments completed by respondents in 2006 came from just eight sectors ñ the public sector, financial services, manufacturing, food/fmcg, IT/technology, telecoms, transport and media. Nearly one in every five interim assignments took place in the public arena. Looking forward into 2007, those questioned expected local and central government to remain buoyant, but some 52% expected the financial services sector to become the biggest source of work for interim managers.

Interim managers in the UK seem to find their working environment one which is largely immune to the twin evils of sexism and ageism. Only 18% believed that clients took gender into account when selecting an interim and 56% stated that age was no barrier to finding the right assignment. Anecdotal evidence from respondents suggested that if ageism did play any part in the sector, despite the recent introduction of legislation to counter it, it was because organisations favoured older candidates who could demonstrate a long history of relevant experience and delivery. As one interim succinctly put it, ìClients like grey hairî.

For a full copy of the survey, simply contact Adrian Barrett at BlueSky PR on 0845 3700 126 or visit the Praxis website at: