State of the Market

[SussexSeagull]

I tend to find anything more than two interviews is a red flag as some employers/clients just want to keep going until they find a reason not to get someone on board.

[agentzero]

Nonsense, 100k is over 1k more a month assuming permie tax. Also a single person has half the outgoings of a couple, probably less than half as they won't have children. So they will have a far better standard of living.

A couple normally reside in one home together. A single person has to front the cost for the home themself. Did you do the maths before posting?

Rhetorical, of course.

[hungry_hog]

100k is about 5.7k a month

If you live in London (or another expensive city e.g. Oxford, Cambridge), you are going to blow 2k of that in rent / mortgage. For London, even for something quite average, probably in zone 3-5. Nice bits of Zone 1 are for people that use 50 pound notes as kindling.

You then have council tax, energy, water, tv, broadband, mobile. Easily 600+ for that.
Travelcard - 200
Groceries - few hundred

That's over 3k, I haven't counted spending money (eating out, drinks), holidays, clothes, electronics etc. If you have kids forget about it, it won't touch the sides.

I know that not everyone has to live in London but if you have family ties it's hard to move away.

[Ketto]

£5.7k assumes no pension contributions and student loan repayments too.

[SussexSeagull]

As said elsewhere having someone else in the household earning money makes a difference as well.

[TheLordDave]

Just got sent a “hot job”

requirements as long as your arm.

168 quid a day inside. 3 days on site in London.

why is everyone complaining when we can all get roles like this and be making a loss every week….

[willendure]

100k is about 5.7k a month

If you live in London (or another expensive city e.g. Oxford, Cambridge), you are going to blow 2k of that in rent / mortgage. For London, even for something quite average, probably in zone 3-5. Nice bits of Zone 1 are for people that use 50 pound notes as kindling.

You then have council tax, energy, water, tv, broadband, mobile. Easily 600+ for that.
Travelcard - 200
Groceries - few hundred

That's over 3k, I haven't counted spending money (eating out, drinks), holidays, clothes, electronics etc. If you have kids forget about it, it won't touch the sides.

I know that not everyone has to live in London but if you have family ties it's hard to move away.

https://www.gov.uk/workplace-pension...government-pay

For Permies, Pension regulator now requires an 8% contribution. So thats £8K/year of your £100K for that. I'm currently putting in £12K, and thinking of putting that up - mostly because as a younger contractor I never had a pension, so have to catch up a little.

You also want to be putting something asside, maybe another 10% to build up a buffer for times you will spend on the bench - that would buy you 1 year every 10.

I think outside of London, £100K is easily enough to live a good life, but you would want more to work inside London.

[TheDude]

Been offered a role outside of financial services. Remote with 1 day a month in the office.

It's outside but the day rate is about what I am netting from my current inside gig.

It's a big cut but more than enough to live on and I quite fancy a complete change of scenery.

[willendure]

Been offered a role outside of financial services. Remote with 1 day a month in the office.

It's outside but the day rate is about what I am netting from my current inside gig.

It's a big cut but more than enough to live on and I quite fancy a complete change of scenery.

If its outside and the day rate is the same, then its a big rise no because less tax no? Or you already factoring that in. But hey, sounds great, change of scene.

[willendure]

https://www.youtube.com/watch?v=BWoE_H9j5z0

I really enojyed this interview with Brent Johnson all around his Dollar Milkshake model. Heard it before on other channels but I think it works well with the Blockworks Macro interviewer because he gets him to do a good job of explaining it.

I still think a recession is coming although BJ says he is not in that camp. But what I learned about is his more long term picture - which is that interest rates will rise if the US debt gets out of control - and not that there will be stagflation. A strong dollar is sending the US on a spending spree even. The reason is that whilst the US debt is massive, there is more private debt in the US than govt debt, and massively more international debt denominated in US$. And all that other debt will be squeezed before the US ever gets squeezed. He also points out that the dollar is currently being used as a weapon both against Russia, and China, and high interest rates hurt them more, there are reasons other than fighting inflation for sustaining high rates.

Unfortunately for us, this dynamic is weakening the pound and sucking capital out of this country. We kind of just have to hang on and wait for the reversal.