Demand for interim managers is at its highest since 2001, with average daily fees by up to 7.5% at £513 compared with December 2003. A new industry survey carried out by Russam GMS end-December 2004 reveals that engineering and manufacturing are the leading sectors to use interim managers accounting for 19%.
The survey covers, among other areas, interim managers on assignment full and part-time, daily rates in different sectors, types of assignment undertaken and the age of interims. The survey shows that interims are getting younger and that younger interims earn higher fees. Those in their forties get the highest pay whilst those in their fifties get most work.
Average daily fees are £513 but for general managers the rate goes up to £548 and for financial managers £532. Fees in the financial sectors top the list at £596, followed by telecoms at £561, retail at £554 and construction at £540.
Interim managers are most in demand by organisations going through transition or change. Highest demand is for specialist skills 22%, new strategy 16%, restructuring 14% and mergers and acquisition 6%.