Originally posted by jamesbrown
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State of the Market
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Originally posted by jamesbrown View PostHowever, the systematic commoditization of IT skillets started before this thread started. Peaks and troughs will continue, but they are superimposed on a downwards trajectory.
It was pretty meaningless and not noticeable over the short term, anything less than a 10 year timeframe.
We have had something like an 80% fall in the number of contracts in the last couple of years. Thats what we are talking about.Last edited by Fraidycat; 6 June 2024, 15:04.Comment
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Originally posted by Unix View Post
I was talking about this recent quiet period. I've been in contracts since 2006 with at most gaps of a few weeks, rate it highest its been in current contract so not seeing the downward trajectory in my area.Comment
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Originally posted by jamesbrown View Post
The recent quiet period will probably end when interest rates are cut substantially. For anyone with a generalist IT skillset, it isn't going to get any easier to maintain a decent living standard and the next downturn probably won't be very far away.
During the booms times it easy to think the good times will last forever, and during the bust it easy to fall into the trap the good times will never return. I think you are suffering from the later.Comment
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Originally posted by Fraidycat View Post
When demand exceeds supply, companies will hire almost anyone with a pulse. Ok i am exaggerating, but companies are more than happy to cross hire people into different skillsets as long as you can half pass the interview process. Anyone who is any good wont have a problem finding a decent paying contract when the good times return.
During the booms times it easy to think the good times will last forever, and during the bust it easy to fall into the trap the good times will never return. I think you are suffering from the later.Comment
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Originally posted by jamesbrown View PostThis thread serves as a testament to the broader forces operating, which are definitely not recent, some of those UK-centric (e.g., IR35) and others not (e.g., commoditization and offshoring).
The 2008 and 2020 down turns were relatively short as the central banks cut interest rates and pumped in money using QE, so contractors did not have to experience a long downturn in the almost 20 years between 2003 and 2022.
There was also a nasty downturn between 1991 and 1994.Last edited by Fraidycat; 6 June 2024, 18:25.Comment
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Originally posted by Unix View PostI was talking about this recent quiet period. I've been in contracts since 2006 with at most gaps of a few weeks, rate it highest its been in current contract so not seeing the downward trajectory in my area.
The contracting market (and the general white collar job market) has definitely changed a lot in the past few years but there’s still plenty of opportunity if you have the right skills, drive and flexibility to adapt.Last edited by sreed; 7 June 2024, 08:50.Comment
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I think generalists get a bit of a hard time on here. The thing is about specialisation is it is, well, quite specialised so not many people can do it. Absolutely fine if you have carved a niche for yourself that is so small it wouldn't occur to anyone to try and muscle in (even if they could) but I recall being in demand as a web tester 25 years ago and now it is so assumed it wouldn't get mentioned in an interview.
You are also entirely at the mercy of trends in that sector and when the market is bad there is no work for anyone, no matter what your CV is.
I am being overly simplistic but it its business, not a purity test.Comment
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