Contracting in Canary Wharf

[IR36Contractor]

Turned my back on the investment banking sector 2 years ago and it's gotten worse and worse and worse. As has been said already, regulation, offshoring, consultancies, contraction in the market, rate cuts, enforced leave. It's a horrible environment to be in. I caught it at the tail end I feel (2008) and whilst the market was hard back then, it was nothing like what it is now.

As has been said by others, the difference in rates outside London has narrowed now to make it not worth considering if you don't already live in London

Basically this .... I didn't mind working in Canary Wharf at the time but back in the City now and moved into FinTech rather than investment banking. The difference in rates is marginal nowadays, certainly not worth the extra hours and terrible environment. And within 12 months of joining an investment bank there is usually a rate cut in any case to take you back down to the same as other sectors.

[nomadd]

Turned my back on the investment banking sector 2 years ago and it's gotten worse and worse and worse. As has been said already, regulation, offshoring, consultancies, contraction in the market, rate cuts, enforced leave. It's a horrible environment to be in. I caught it at the tail end I feel (2008) and whilst the market was hard back then, it was nothing like what it is now.

As has been said by others, the difference in rates outside London has narrowed now to make it not worth considering if you don't already live in London

This^

My first Banking contract was 1992. Most of the next 20 years of my contracting career was Banking.

I haven't touched a Banking role in quite a few years now. Rates are generally poor, and certainly don't compensate for the hours and culture.

For the last few years I've actually started enjoying my contracting roles again. I've also found rates to be at least as high as the banking roles I've been offered.

Oh, I've also regained my sanity.

[Cirrus]

FTFY

It's a bit of a moot point, if you are new to contracting you can hardly be picky about the client you are going to work for. That being said there is no single answer to your question as conditions vary wildly between departments in the same bank. Then that's one of the beauties of contracting - if you don't like the environment you are free to leave on a much shorter notice than a permie.

FTFY