Pay for interim mangers in the sector has fallen by 15 per cent in the last six months and is now at its lowest point in the last five years.

According to Russam GMS, which carries out a six-monthly survey of interim managers, those working in the not-for-profit and charity sector earned £388 per day in the six months to December 2012.

Pay rates had risen sharply in the six months to December 2011, reaching £477 per day, but fell back in 2012. 

Interim pay across all sectors also fell in the same period, from £619 per day to £593 per day.

Ian Joseph, managing director of charities and not-for-profit at Russam GMS, said: “Many interims are willing to work part-time and right now, the market is highly competitive which is driving down rates and making interim management even more accessible for charities.”

Charities are recruiting more interim chief executives

The charity and non-profit sector is the third biggest employer of interim managers, and according to the latest report the charity and non-profit sector accounted for 7 per cent of all interim assignments.

Joseph said: “The relentless economic crisis has hit many charities hard and particularly medium-sized organisations... Many are struggling to handle the new funding challenges they face. Over the past 18 months we have seen an upward trend in organisations recruiting interim chief executives to lead them through these choppy waters.”

He added that interim managers were considered a “low-risk and affordable” option and that they are “a way for organisations to access high-calibre individuals they couldn’t necessarily afford to recruit on a permanent basis”.