State of the Market

[Fraidycat]

Also the days of floors full of contractors delivering projects seems to have passed. They seem to be well and truly offshored.

My guess is the demand for contractors will return at some point. But inflation adjusted rates will not return to 2021 levels.

When the surge in demand returns is anyones guess.. A year ago i was confident the full recovery will be in 2025. Now i'm not as sure..

[hungry_hog]

The rates are actually good, even though market is slow, which I know seems anomalous.
I'm at an FS client and there are plenty of people on 1000+ Umbrella rate (not me I hasten to add). The posh coffee shops (coffee 4 to 15 quid!) are doing a roaring trade.

it depends hugely on previous experience specific to that client, if you have it they pay top dollar. Worth more than 20 years at the fabled "top tier" IBs

[sreed]

The rates are actually good, even though market is slow, which I know seems anomalous.
I'm at an FS client and there are plenty of people on 1000+ Umbrella rate (not me I hasten to add). The posh coffee shops (coffee 4 to 15 quid!) are doing a roaring trade.

it depends hugely on previous experience specific to that client, if you have it they pay top dollar. Worth more than 20 years at the fabled "top tier" IBs

hungry_hog Just curious, are these London-hybrid contracts generally? If so, how many days pw in the office is expected at your client?

[hungry_hog]

hungry_hog Just curious, are these London-hybrid contracts generally? If so, how many days pw in the office is expected at your client?

London. Current client is 2pw, quite a lot of people do 1pw (or even zero)
Worked at another client (FS, not banking), again was 2pw

[tsmith]

I applied to 100 jobs using a resume with the name, "Kismma D. Nhuhts" and I got 29 interviews.

https://twitter.com/JerryJHLee/statu...84920593055763

Takeaway - As long as you have big name companies on your CV nobody reads the rest - that or interviews are much easier to come by in San Francisco

Maybe Ill try and apply for a few stateside to test

[Peoplesoft bloke]

Got a message from an agent in San Diego - they need a Workday UK payroll person (this is my niche) for an immediate start to do 50 hours a month. That'd be great if I was free but I have 3 month notice period and he didn't mention rates.

Meanwhile there's a gig on linkedin - 6 months 3 days a week in Brentford 2 days remote for £600. Looked great until I notice the £600 is a week, inside.

I don't know if there are suddenly a lot of cheap contractors around or clients are just being weird.

[tsmith]

Got a message from an agent in San Diego - they need a Workday UK payroll person (this is my niche) for an immediate start to do 50 hours a month. That'd be great if I was free but I have 3 month notice period and he didn't mention rates.

Meanwhile there's a gig on linkedin - 6 months 3 days a week in Brentford 2 days remote for £600. Looked great until I notice the £600 is a week, inside.

I don't know if there are suddenly a lot of cheap contractors around or clients are just being weird.

with time difference can you do both at once?

people are accepting lower salaries no doubt

linkedin have got more aggressive with their paywall now it seems. one free message - a week or day or something - with a connection now - then subsequent i need to pay to message and connect withe people

SMH - this nonsense just gets more and more annoying.

[dsc]

Got a message from an agent in San Diego - they need a Workday UK payroll person (this is my niche) for an immediate start to do 50 hours a month. That'd be great if I was free but I have 3 month notice period and he didn't mention rates.

Meanwhile there's a gig on linkedin - 6 months 3 days a week in Brentford 2 days remote for £600. Looked great until I notice the £600 is a week, inside.

I don't know if there are suddenly a lot of cheap contractors around or clients are just being weird.

Agents / clients might be trying it on to see how low they can go, if there's a lot of people who are desperate for anything, someone will eventually bite. Besides that seems to be the case with perm positions in mainland Europe, they open up a perm position, post a job ad with a set of skills and have a budget in mind, then they ask you how much you'd want to earn, if you go outside the budget, they simply stick you on the list of "too expensive for now". If they can't get anyone, they increase the budget (assuming they can do so), if they get people with partial skill matches, they look at what is crucial and whether it's enough. If it is, they fill the position with a reasonable skills to pay ration and call it a day.

[tsmith]

Agents / clients might be trying it on to see how low they can go, if there's a lot of people who are desperate for anything, someone will eventually bite. Besides that seems to be the case with perm positions in mainland Europe, they open up a perm position, post a job ad with a set of skills and have a budget in mind, then they ask you how much you'd want to earn, if you go outside the budget, they simply stick you on the list of "too expensive for now". If they can't get anyone, they increase the budget (assuming they can do so), if they get people with partial skill matches, they look at what is crucial and whether it's enough. If it is, they fill the position with a reasonable skills to pay ration and call it a day.

Im seeing 90% of roles with 'state salary requirements' - 10 years ago it was maybe 10%. Times have changed. How long before its 35k for a senior XYZ role in London?

I try and put 'market rates' if theres no integer only check

Woman actually called me about a role I applied for with this approach - 'you put market rates - the role is paying £55k 6 months FTC'

I said can you do £60k? - She said no

[sreed]

Got a message from an agent in San Diego - they need a Workday UK payroll person (this is my niche) for an immediate start to do 50 hours a month. That'd be great if I was free but I have 3 month notice period and he didn't mention rates.

Meanwhile there's a gig on linkedin - 6 months 3 days a week in Brentford 2 days remote for £600. Looked great until I notice the £600 is a week, inside.

I don't know if there are suddenly a lot of cheap contractors around or clients are just being weird.

Care to share the listing? That has to be a mistake, I can’t recall ever having seen any inside contract that pays £120 a day!

Working backwards from net pay, that translates into a PAYE salary of around 21k or so which (even for a 35 hour week) is just above min wage!