Advice needed on breaking into Contracting (in Finance)

[BrilloPad]

It's becoming a hard reality that I might just have to go back to perm. I REALLY DO NOT WANT TO THOUGH! Tired of the all BS that comes with it. But needs must, so I may have to start considering it.

The longer you are on the bench the harder it will be.

Maybe your attention to detail is poor? Other suggestions here you have not commented on.

[Dallas]

Most peeps I know with CFAs qualified while being in a permie role.

It doesn't sound to me like you have a unique selling point in a over supplied market.

If your rate is at the 450 mark I would look to other sectors or consultancies initially, get a few good years under your belt.

Good luck

[BrilloPad]

Most peeps I know with CFAs qualified while being in a permie role.

It doesn't sound to me like you have a unique selling point in a over supplied market.

If your rate is at the 450 mark I would look to other sectors or consultancies initially, get a few good years under your belt.

Good luck

To get the sort of money Dallas does you need to have a degree in making people cry.....

[joy division]

If you couldn't show value back then, what makes you think you're better at showing value now?

I thought someone might bring this up. It might help to know my previous employer was a bank largely owned by the taxpayer. So they used this as a reason not to promote or better remunerate me. My salary did not budge in all the time I was there, but they were very happy to pile more and more expectations on you. I absolutely showed value there (as demonstrated by the fact that they immediately offered a 10% increase upon my resignation - still too little though) and am quite confident I can add value in a contracting capacity too. That job (and others before it) showed that the performance fiasco one has to go through as a permie really is meaningless. If you use that to justify any request for an increase, they still ignore it if it doesn't back up their point of view. I know what you're thinking... well the bank was in dire straits after all! My answer to that is: stop moving staff from one building to the next every few months (at a rumoured cost of £500 per head every time it happens) and instead use that cash to pay better wages!

Why do you need to convince people of your time off? Chasing agents doesn't work. Are you dancing to the agents' tune?

What's the best way to deal with agents in your view? I suspect that around 70% of my calls to agents go nowhere. The jobs online are bogus or the agent has no intention of putting me forward but still tries to get info out of me.

Did you jump into contracting just because of the money? I certainly did.

Yes. And also to avoid the BS one has to put up with as a permie. See answer to your first question.

"because contracting" - there is absolutely no prestige in that

No! I know it will be hard work and I am prepared for that

[joy division]

There has been little to no growth for IT jobs in this sector for years

uk contractor we saw it as permie staff, as people left our team, there were no efforts made to replace. Existing staff simply had to take on more, or the project was mothballed. Familiar territory and sadly I agree with you.

Look at other sectors or drawdown your savings until Jan now its unlikely to show any upward change as Nov-Dec & early Jan are usually quiet anyway but this year has been awful probably the worse its been since 2008.

Unwilling to try other sectors because I am told it is a bugger to get back into the FS once you leave. But I might have to make the difficult decision to go back as a permie. My savings have taken a very big hit and although I could survive for another year I think, it just will not look good to any prospective employer.

[joy division]

Are you waiting for a guy to come and take you by hand?

Haha stek. Well that would be nice! But these sensations barely interest me for another day. Trying to break into this no-man's land is getting out of hand and I might have to, sadly, look at going back to perm.

[joy division]

Concentrate on getting any contract in your specialism BA or PM but imo, you need to decide whether you want to go BA or PM.

I am positioning myself as a Senior BA, but I do have a formal PM qualification too and have PM'ed projects. My CV highlights the BA experience though, as this is where I want to move.

IMO (again), contracting is a dead man walking. Id advise anyone to stay clear and concentrate of getting a well paid permie position.

My strategy, if it comes to it, will be landing a perm role for the time being, whilst still chasing contract. Come hell or high water, contracting is going to happen. Sooner or later. I have worked with enough contractors to know that there is no difference between the quality of a contractor's work and mine.

[Sausage Surprise]

Until recently I was applying for roles upwards of £500 pd. I lowered since that to £450. I suppose, given I am new to this, rate is something that should be compromised on. Going any lower though, will make it uneconomical.

(

Yep, the yacht, the supermodel and monkey butlers don't pay for themselves.

[joy division]

the financial benefits of contracting are going to be reigned in significantly in the next year or two (to the point that contracting may be uneconomic for a lot of people, and the competition for permie jobs will increase, so better to secure something now).

jamesbrown interested to know why you think the benefits of contracting will be reigned in? Yes, the FS market is shrinking, but certain areas within that market are not (i.e.: regulations). There will surely always be a need for shorter term, less risky (but better paid), staff. No?

[MrMarkyMark]

So, to re cap:-

Currently unemployed and have been for 6 months
No contracting experience
Wants £500 PD
Unsure if you want a BA or PM role

I believe the points, above, speak for themselves, on paper you don't have a lot going for you.
Unfortunately rates have dropped in banks, quite a few IB Banking roles are only offering £450PD.

As to whether you risk carrying on, I guess that depends on your financial means?
You seem to be making an effort and trying to be flexable, so....Good Luck!