State of the Market

[PerfectStorm]

I do wonder what it must be like to live on planet NorthernLad.

A friend, family member etc. asks "So when do you start your new job?"

"Job? I've always been the director of my limited company, what do you mean?"

[northernladuk]

I do wonder what it must be like to live on planet NorthernLad.

A friend, family member etc. asks "So when do you start your new job?"

"Job? I've always been the director of my limited company, what do you mean?"

Oh everyone in my family/social circle is well versed on the terminology

[PerfectStorm]

A tale of two banks...

Had a telephone conference call interview for a relatively low paying roll. 5% of the interview was about the job. The rest were me answering questions about "think of a time when you needed to influence people, what did you do?" and "when you've missed a deadline before, how did you handle it?" type questions. Felt honestly quite patronising. We will tell you how job is done, via your manager. Reacted angrily to my question about occasional remote work - "we want people in, but I don't work on Fridays..." - told that I'll find out next week. The whole call felt dispassionate and cold.

Other interview via call. Quick, casual, good humoured chat about what needs to be achieved. Client suggests I work from home every single day. More money than the first role. Client says they're happy and no face to face meeting needed - just come in. I will determine how job is done. Agency has contract with me that evening. Seems contractor friendly in the usual areas, no assumed opt-out of agency regs.

What a world of difference.

[BrilloPad]

Oh everyone in my family/social circle is well versed on the terminology

No excuse for giving a 15 minute lecture to that scout who came round for "Bob a Job".....

[kaiser78]

A tale of two banks...

Had a telephone conference call interview for a relatively low paying roll. 5% of the interview was about the job. The rest were me answering questions about "think of a time when you needed to influence people, what did you do?" and "when you've missed a deadline before, how did you handle it?" type questions. Felt honestly quite patronising. We will tell you how job is done, via your manager. Reacted angrily to my question about occasional remote work - "we want people in, but I don't work on Fridays..." - told that I'll find out next week. The whole call felt dispassionate and cold.

Other interview via call. Quick, casual, good humoured chat about what needs to be achieved. Client suggests I work from home every single day. More money than the first role. Client says they're happy and no face to face meeting needed - just come in. I will determine how job is done. Agency has contract with me that evening. Seems contractor friendly in the usual areas, no assumed opt-out of agency regs.

What a world of difference.

So which one would you go for though ?

[oliverson]

So which one would you go for though ?

Neither. I haven't contracted at a bank since 2014 though I'm still in the financial industry. I doubt I'll ever go back to working for those kind of outfits where w4nkers are plenty and rate cuts even more common.

[PerfectStorm]

So which one would you go for though ?

The second one, obviously

[rambaugh]

Been benched 3 months...Found the market tough but finally boomed! Long gig hopefully, not a bad rate.

Nice way to end the week!

[kaiser78]

Been benched 3 months...Found the market tough but finally boomed! Long gig hopefully, not a bad rate.

Nice way to end the week!

3 months isn't that long to be benched in current climate based on what others post on here.

[contractorinatractor]

At business networking events in the major cities there is an under current mentality consisting of: "we need to relocate to the EU", in some form or another.

Even if the EU has its own issues, it will take years for these to lead to a situation in which we cannot work in the EU. What most contractors don't realise is that the following is going to happen in the UK:

*Free movement becomes limited, work visas required to work outside of the UK on a default UK passport
*Taxes increased for contractors, in the form of PAYE-only
*Inability to work in the EU, due to stringent visa application process
*Contractors moan for some time before accepting this

A sizeable majority of economists, hell, even experts in the finance industry, are predicting BREXIT gloom. So ask yourself this: as an educated professional, are you going to ignore all this advisory? Or are you going to join the many others considering leaving the country for a better life, then following through with leaving?

The UK contract market is rubbish now and it's only going to get worse. There are blips of success here and there, but overall the outlook is extremely bad for the next decade. Rates are down overall for the majority of contractors. Contracts previously paying £500+ per day are now £250 to £350 per day. Add in the PAYE tax mentioned above, and you can see it's going to be pointless being a contractor in future for the vast majority of contractors.*


*Yes, I am aware that the well qualified niche consultants get £800+ per day and continue to do so - but our/your time will also come eventually too, and by then it will be too late and difficult to instigate change for working abroad.