State of the Market

[TheDude]

Similar - recently a 1st and then 2nd interview. Both went well, then ...silence, despite chasing by the agent.

That is the new normal. Just forget about it and move on.

[sreed]

Always an interesting one this along with the "must have banking experience" which I get in a way as these are highly regulated businesses and are so many others; but then I see the role description and specific insurance\banking experience wouldn't have any bearing.

So, in your view and experience of your client and presumably knowledge of the SA roles would not having insurance experience be a problem?

Imho, no it wouldn’t be a problem for an SA role as long as they had FS experience so they could speak the regulatory lingo, as that’s one aspect which appears to creep in everywhere, though I’m basing that just on this stint.

Even so, the people who make the hiring decisions appear to be adamant that they need insurance experience AND don’t want to pay what a good SA would ask for, irrespective of whether they were a perm hire or a contractor.

The end result of working without sufficient SA resource is comical, because they end up going to market to procure expensive systems/solutions based on flawed/sub-par/incomplete requirements and design cobbled together by BAs+PMs. In the long run, that’s going to cost them hugely.

[simes]

Always an interesting one this along with the "must have banking experience" which I get in a way as these are highly regulated businesses and are so many others; but then I see the role description and specific insurance\banking experience wouldn't have any bearing.

Which tends to make a complete mockery of the question asked by an agent who is randomly calling every contractor if they 'are still available and what do you want to do next?'

Aside from, 'Stop calling contractors and get first a client', there is in answer to the question, 'You see my CV, I will next be doing exactly what I have already done.' Like there was a bloody choice about it... Deary me.

[TheDude]

Always an interesting one this along with the "must have banking experience" which I get in a way as these are highly regulated businesses and are so many others; but then I see the role description and specific insurance\banking experience wouldn't have any bearing.

So, in your view and experience of your client and presumably knowledge of the SA roles would not having insurance experience be a problem?

I have worked for Investment banks for most of my career and have never seen lack of banking experience as a deal breaker for developers.

[pjt]

Just seen a role thats my ideal fit basically by niche. Problem is the rate is a third what I was getting on my last gig and its inside IR35. Thats lower than the rate I took for my first contract way back.
Not going to apply but the thing that really shocked me was the jobs be on for less than an hour and its had 8 applicants already.

[avonleigh]

I have worked for Investment banks for most of my career and have never seen lack of banking experience as a deal breaker for developers.

Can't speak for developers but for testers it's an issue. I have applied for investment banking roles for the last 27 years and not even got to interview stage for contract or perm. Not once.

[Cookielove]

Just seen a role thats my ideal fit basically by niche. Problem is the rate is a third what I was getting on my last gig and its inside IR35. Thats lower than the rate I took for my first contract way back.
Not going to apply but the thing that really shocked me was the jobs be on for less than an hour and its had 8 applicants already.

Yep this is the reality...am earning less than I was 15 year ago I'm on an inside role; and that is about to end as perm person joining who is 20 years younger and they are paying c£50k.
A friend of mine also looking and he told me that some jobs have 200 plus applicants...what a mess!
I'm thinking of ways to retire and try an alternative career as I can't see me getting a good run at this any longer...tried to move to perm and got nowhere...

[pjt]

Yep this is the reality...am earning less than I was 15 year ago I'm on an inside role; and that is about to end as perm person joining who is 20 years younger and they are paying c£50k.
A friend of mine also looking and he told me that some jobs have 200 plus applicants...what a mess!
I'm thinking of ways to retire and try an alternative career as I can't see me getting a good run at this any longer...tried to move to perm and got nowhere...

Unreal just seen another one! Same skills same niche but different location. This time the rate is slightly higher but not by much. I've not seen any roles this close to my skills in months and 2 come along at once but both with unworkable rates. Grim times.

[dsc]

Unreal just seen another one! Same skills same niche but different location. This time the rate is slightly higher but not by much. I've not seen any roles this close to my skills in months and 2 come along at once but both with unworkable rates. Grim times.

I'm also in a fairly niche area (due to the package used) and seeing similar, either rates uber low, or getting rejections based on too high of a perm salary requirement. That or roles filled with internal hires, or roles being scrapped altogether and re-posted in a "different configuration" whatever the heck that means...

I'm not too bothered atm as I still have a chance at landing a perm role outside of the UK for the client I'm currently with, which for me kills two birds with one stone (leave the UK and go perm), but if that doesn't work out I'm utterly fecked

[edison]

I've often commented that there isn't one 'market' but multiple markets for different skillsets and sectors.

However, I'm struggling to reconcile the recent experiences of friends who are struggling to get any traction whatsoever for contract or perm roles that are advertised online. These are people I rate highly with good track records but in some cases they have applied for hundreds of jobs and barely had a sniff.

One of them has applied for up to twenty jobs a day over the last six weeks and not got a single interview. Miraculously, he managed to get hold of the recruiter for a couple of roles last week and now has two interviews lined up.

Applying online seems a waste of time now, you'd be better off spending the time on trying to make direct connections with recruiters or hiring managers at companies (however painful that is these days compared to only two years ago.)