We have looked to Germany and the UK to discover developments within interim management outside of our country.
Germany
The German interim management market continues to grow. The growth in 2012 was expected to be around 10% and the total market was estimated at more than EUR 2 billion in 2011. There are around 12,000 interim managers in Germany (2012).
The growth is due to the increasingly common situation in German companies, where the appointment of a new senior manager by the board of directors is a time-consuming process and a suitable manager who can start almost immediately is often necessary for the interim.
A frequent observation is that younger interim managers are entering the market and there are now people in their mid-forties already choosing a career as an interim manager. The proportion of women in the interim manager databases is also on the increase and has doubled since 2002, currently totalling around 16%.
The daily rate for an interim manager in Germany is around 1% of the annual salary for a permanent employee, which fluctuates by 0.2% in either direction depending on industry, position and qualifications.
UK
The British interim management market is worth £1.5 billion and there are around 15,000 active interim managers according to figures from 2013, presented by IMA.
A survey conducted by the Institute of Interim Management shows that the average age is 52.8 years and half of the interim managers who participated in the survey were between 50-59 years of age. The percentage of women is higher than in Germany, at 23%.
Another interesting figure is the average length of an interim management assignment, which in the UK is 7.3 months. For positions such as CEO and MD the daily fee averages around £840. The average for project managers is around £546 per day.
Sources:
- Financial Times, Germany, 07/12/12 - Survey from 2012 by the Institute of Interim Management in the UK- Survey Q1 2013 by the Interim Management Association (IMA) in the UK
