State of the Market

[TheDude]

The old 2 year myth?

Who? So you are inside? Why not take the time to get an outside gig and no need to go back?


Not just that. The work still needs doing so rather perversly when they hit the 2 year rule they just get another contractor in and that door closes for you.

1. There are several firms that enforce a two year limit.

2. It was an inside gig and I netted more than any outside gig I have had to date. In any case I mostly work for Investment Banks and outside gigs are virtually non existent. If only outside gigs can fund your lifestyle then you have to wonder if your primary business is tax efficiency.

3. It is a ridiculous rule. In most gigs I have had it takes 6 months to get up to speed so it is a tremendous
waste.


I am in two minds about going back. The rate was fantastic but I didn't really enjoy the work. In any case it would be foolish to rely on a verbal agreement so I will be looking around.

[PCTNN]

1. There are several firms that enforce a two year limit.

2. It was an inside gig and I netted more than any outside gig I have had to date. In any case I mostly work for Investment Banks and outside gigs are virtually non existent. If only outside gigs can fund your lifestyle then you have to wonder if your primary business is tax efficiency.

3. It is a ridiculous rule. In most gigs I have had it takes 6 months to get up to speed so it is a tremendous
waste.


I am in two minds about going back. The rate was fantastic but I didn't really enjoy the work. In any case it would be foolish to rely on a verbal agreement so I will be looking around.

Yeah, that's the end of the road for you.

That 3 month forced break is a lie; they just want to keep you warm in case they can't find someone to replace you: maybe a permie that can take on the work, maybe another cheaper contractor.

I wouldn't be waiting around for 3 months for a new contract that will never arrive.

I've worked for many clients that have a "2 year rule" (public sector and banking) and I've never heard of forced break; if they need you they'd either make you a permie offer or find a workaround to give you a new contract immediately.

Start updating your CV

[northernladuk]

1. There are several firms that enforce a two year limit.

Yep. I've had to leave gigs three times due to this mythical two year rule. One of them even stated in the explaination that it's to protect against claiming employment rights or words to that effect. <insert facepalm> Another one indicated that it's a govenance point and they should be looking at other ways of getting a body if the work is going to take two years, which is sound enough, except for the fact I helped interview the contractor that was picking up after me <more facepalms>

Stupid rule that benefits no one.

3. It is a ridiculous rule. In most gigs I have had it takes 6 months to get up to speed so it is a tremendous
waste.

Agreed and oddly the client programme people hate it just as much.

I am in two minds about going back. The rate was fantastic but I didn't really enjoy the work. In any case it would be foolish to rely on a verbal agreement so I will be looking around.

Well you have nothing so for the next couple of months there is no choice to be made. I do know a few people who have rejoined clients after a break but not in to the old job. For now the door has closed and you are on the market.

[squarepeg]

Compared to the last year the market looks better. Unfortunately, the new government is about to fire public sector contractors wholesale so grab those roles before the rates go down again. I can't complain, I had ~12 months out of work since mid 2020, but I had to accept rates lower than my 2020 rates. It's hard to be optimistic.

[escapeUK]

Unfortunately, the new government is about to fire public sector contractors wholesale

So expect lots of failing systems. Lovely jubbly.

[Fraidycat]

Compared to the last year the market looks better. Unfortunately, the new government is about to fire public sector contractors wholesale so grab those roles before the rates go down again. I can't complain, I had ~12 months out of work since mid 2020, but I had to accept rates lower than my 2020 rates. It's hard to be optimistic.

We have left wing governments in the UK and in also the US at present.

More and more of Silicon Valley CEOs and VCs are now backing Trump in the US because Trump will free Mergers and Acquisitions in tech and cut regulations in the US.

If that happens, and boom in Silicon Valley follows, there should be a knock on effect in the UK, as tech workers in the UK are effectively treated as much cheaper offshore resources by US tech companies.

If Kamala wins, there is much less hope.

[squarepeg]

We have left wing governments in the UK and in also the US at present.

More and more of Silicon Valley CEOs and VCs are now backing Trump in the US because Trump will free Mergers and Acquisitions in tech and cut regulations in the US.

If that happens, and boom in Silicon Valley follows, there should be a knock on effect in the UK, as tech workers in the UK are effectively treated as much cheaper offshore resources by US tech companies.

If Kamala wins, there is much less hope.

I sold my services for ~4 years to three different US clients and I have to tell you they have a very different view of contractors over there. Another thing to watch out for is universal disregard of time zone differences, no matter what the contract says, you work on their clock. The corporate language and culture is another difference, and it may be a small thing initially, but it quickly adds up and rots your joy of life.

[squarepeg]

So expect lots of failing systems. Lovely jubbly.

I'd say expect further delays in implementation of essential online services and fixes to the existing ones. At least a year or two as the realisation that they need to restart those projects, rehire talent, and re-provision IT resources sinks in.

[northernladuk]

I'd say expect further delays in implementation of essential online services and fixes to the existing ones. At least a year or two as the realisation that they need to restart those projects, rehire talent, and re-provision IT resources sinks in.

To be fair I remember seeing exactly the same comments about off shoring when it took off and cloud hosting when that hit hard. Nothing came of either.

[hungry_hog]

2 year rule is pretty loose.

One chap I worked with moved team. Another one left and was hired back one month later. They changed his title. These were inside roles though.

Or some places they ignored it entirely, the "horse" bank had quite a few over 10 years back in the day. outside too!