Recession? It wasn't so bad for £1,000-a-day executives

ONE in ten company executives recruited on short-term contracts is now paid more than £1,000 a day.

A study of almost 1,500 so-called "interim" executives found that three out of four received more than 500 a day.

Interim Partners, which conducted the research, said the economic slowdown had created an "acute shortage" of senior employees with experience in cash management and cost-cutting.

Doug Baird, managing director of Interim Partners, said: "There were some skills sets for which demand increased in the recession – where interims were able to maintain and even increase their rates.

"Interims specialising in cost-cutting and procurement can command such high rates because they deliver huge savings."