Originally posted by dsc
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State of the Market
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I would guess Minimum wage rises effecting other job salaries is going be like some sort of inverse square law.
Nearby rates are going to effected most, but the effect is going to diminish the further away you get from £11.50 an hour.Comment
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Lady reckons IR35 changes means an extra 90,000 people now competing for perm jobs
https://www.linkedin.com/posts/nadin...member_desktopComment
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Originally posted by tsmith View PostLady reckons IR35 changes means an extra 90,000 people now competing for perm jobs
https://www.linkedin.com/posts/nadin...member_desktop'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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I think we are in the process of a fairly major adjustment in the IT contracting industry. Once the City decided that inside IR35 was the way to go then the argument for remaining a contractor was weakened, although there is seemingly still enough contractors willing to do it.
Also the days of floors full of contractors delivering projects seems to have passed. They seem to be well and truly offshored.
This is an observation based on who I have worked with over recent years and not a political or social one, but we have had a lot of IT talent come in from India. I suspect the change in immigration rules will reduce that but they are now able to stay permanently and are competing with the rest of us.
That all said the work I have got post Covid reminds me of what I got 15 years ago where you went into a small or medium setup either on your own or in a small group and used your expertise to help them over a few months before moving on.Comment
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I've seen and heard some conflicting things in the last two weeks. Multiple recruiter sources have told me that companies may have plans but there isn't the same appetite any more for kicking off transformation programmes or large projects. M&A and PE activity is down and there's no big business driver to start kicking off major change for many companies.
On the plus side, I have seen quite a lot of new contract and perm PMO roles advertised which is normally a sign that better things are on the way. I just think programmes and projects will be on a smaller scale than before and there will be fewer opportunities overall for some time to come.Comment
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Originally posted by SussexSeagull View PostI think we are in the process of a fairly major adjustment in the IT contracting industry. Once the City decided that inside IR35 was the way to go then the argument for remaining a contractor was weakened, although there is seemingly still enough contractors willing to do it.
Also the days of floors full of contractors delivering projects seems to have passed. They seem to be well and truly offshored.
This is an observation based on who I have worked with over recent years and not a political or social one, but we have had a lot of IT talent come in from India. I suspect the change in immigration rules will reduce that but they are now able to stay permanently and are competing with the rest of us.
That all said the work I have got post Covid reminds me of what I got 15 years ago where you went into a small or medium setup either on your own or in a small group and used your expertise to help them over a few months before moving on.
I don’t believe that there will be a significant let up in experienced IT people moving here from India, there continue to be too many low effort visa routes and an inexhaustible (compared to the UK job market) high volume of highly incentivised people looking to permanently immigrate.
IR35 and a move towards inside roles is here to stay. To me personally, it’s all a means to an end and since I’ve started sal sacrificing large proportions and the allowance has gone up to 60k, I’m increasingly fine with inside contracts as monetarily it works out about even compared to if I earned a similar day rate on an outside contract. Obviously that wouldn’t be the case for every single contractor out there but it will for a large number of one man bands and especially those who started contracting fairly recently so aren’t comparing it to the era that was.Comment
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funny and a little arrogant , recruiter asked my why I was out of work from Nov to Jan - 3 months, I said ill and market was pretty quite, I then asked him how many placements he did in the same period...........Comment
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Originally posted by barely_pointless View Postfunny and a little arrogant , recruiter asked my why I was out of work from Nov to Jan - 3 months, I said ill and market was pretty quite, I then asked him how many placements he did in the same period...........
Only one recruiter I've spoken to out of maybe 25-30 in the last 5-6 months has said that business is really good. Many of these are big players in the contract and interim market.Comment
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6 weeks to the end of the contract for me, but I have a sizable holiday in July and a family property to renovate over the summer and plan to get some AI certs so won't be looking until the end of August.
I'm hoping things have picked up by September! From conversations with agents the market is awful still so may have no option but to plough on with plan B until the cash runs out (or it becomes a real business) then back to perm. I think there are a lot of projects on hold at the moment waiting for the next election and also for interest rates to start dropping.
Speaking to a commercial banker friend no one is borrowing cash at the moment to expand as it's too expensive and there are a lot of over-leveraged companies out there caught paying down debt due to the high rates. There seems to be more appetite for getting SaaS solutions in and integrated than building in-house/offshore development at the moment. A lot of macro factors are at play.
Last edited by BlueSharp; 12 April 2024, 10:55.Make Mercia Great Again!Comment
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