Day rate
In 2023, Market Research claimed the second highest average day rate on the YunoJuno platform, earning £488, although it marked a year-on-year decrease of -3%. The top 10% averaged at £710 per day, however saw a -10% year-on-year decrease.
Experience
Midweight roles saw a notable +36% increase year-on-year, with both Senior and Lead roles also experiencing increases. However, Director roles saw a -4% decrease year-on-year.
I genuinely think it’s worth talking to peers about day rates. This can be an uncomfortable conversation as it relies on both parties being honest about what they earn, but it’s worth doing. I honestly hadn’t realised just how far off I was in terms of billing until I did so. It’s also worth having an open chat with clients about this. There are lots of things to juggle but try to remember the value you’re bringing as part of the conversation. They’re working with you for a reason.
I genuinely think it’s worth talking to peers about day rates. This can be an uncomfortable conversation as it relies on both parties being honest about what they earn, but it’s worth doing. I honestly hadn’t realised just how far off I was in terms of billing until I did so. It’s also worth having an open chat with clients about this. There are lots of things to juggle but try to remember the value you’re bringing as part of the conversation. They’re working with you for a reason.
Contract Length and Bookings
Market Research stood out among disciplines, experiencing substantial growth in contract length with a remarkable year-on-year increase of +27%, averaging 40 working days (8 weeks). Top 10% contracts averaged 104 working days (just under 21 weeks), reflecting a year-on-year increase of +12%.
Lead and Director levels saw notable increases in contract rates, growing by +58% and +2% year-on-year, respectively. Whereas, Senior and Midweight roles saw a decrease, with Midweight experiencing a -42% decrease year-on-year.
However, despite these trends, overall bookings within Market Research saw a decrease of -6% year-on-year. Slight peaks in booking demand were observed every two to three months with the highest booking month of 2023 being January.
Roles
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