The table below looks at the prevalence of the term TWAP in IT contracts advertised across the UK. Included is a guide to the average contractor rates offered in IT contracts that have cited TWAP over the 3 months to 14 February 2016 with a comparison to the same period in the previous 2 years.

Note that daily contractor rates and hourly contractor rates are treated separately. When calculating average contractor rates, daily rates are not derived from quoted hourly rates or vice versa.

Location
3 months to
14 Feb 2016
Same period 2015 Same period 2014
Time-Weighted Average Price (TWAP)
Rank - 604 598
Contract jobs citing TWAP 0 1 1
As % of all contract IT jobs located in the UK - 0.002% 0.002%
As % of the Miscellaneous category - 0.006% 0.006%
Number of daily rates quoted 0 1 1
Average daily rate - £675 £700
Average daily rate % change year-on-year
- -3.57%
UK excluding London average daily rate - - -
Number of hourly rates quoted 0 0 0
Average hourly rate - - -
UK excluding London average hourly rate - - -

The following table is for comparison with the above and provides statistics for the entire Miscellaneous category in contract jobs advertised across the UK.

Miscellaneous Category
UK
Contract IT job ads with a match in the
Miscellaneous category
16634 15945 15716
As % of all contract IT jobs located in the UK 32.26% 31.16% 31.96%
Number of daily rates quoted 10734 9928 9465
Average daily rate £425 £420 £405
Average daily rate % change year-on-year
+1.19% +3.70%
90% offered a daily rate of more than £250 £245 £230
10% offered a daily rate of more than £600 £600 £600
UK excluding London average daily rate £375 £375 £350
% change year-on-year
- +7.14%
Number of hourly rates quoted 647 666 675
Average hourly rate £22.00 £18.00 £19.00
Average hourly rate % change year-on-year
+22.22% -5.26%
90% offered a hourly rate of more than £12.50 £11.50 £11.61
10% offered a hourly rate of more than £52.51 £40.00 £42.20
UK excluding London average hourly rate £24.00 £17.50 £17.50
% change year-on-year
+37.14% -

TWAP
Jobs Demand Trend

This chart provides the 3-month moving total of IT contractor jobs citing TWAP within the UK as a proportion of the total demand within the Miscellaneous category.

TWAP Jobs Demand Trend in the UK

TWAP
Daily Rate Trend

This chart provides the 3-month moving average for daily rates quoted in IT contract jobs citing TWAP within the UK.

TWAP Daily Rate Trend in the UK