State of the Market

[uk contractor]

Just moved to London and wondering wtf is going on.

I've had more rejections in the last two weeks (3) than in the past 4 years in another, smaller UK city.

How often do you guys get offers? I'm really interested in London answers because this has been so bizarre for me. The worst bit is I always seem to be passing on the technicals, are London companies super picky on fit? Is it something else?

Software dev for reference...

Supply (all time high) & Demand (all time low). Super picky as they know they can get away with it & get the right candidate plus agencies get up to 1000 applicants within a few hours (some of those are going to be a close match). London is probably the worse place in the entire country to get an IT contract unless you have super duper niche in demand skills.

What's your skillset?

[washed up contractor]

Supply (all time high) & Demand (all time low). Super picky as they know they can get away with it & get the right candidate plus agencies get up to 1000 applicants within a few hours (some of those are going to be a close match). London is probably the worse place in the entire country to get an IT contract unless you have super duper niche in demand skills.

What's your skillset?

There was a lad in the paper the other day. OK, he didnt have the best academic results behind him and he was being rejected by loads of companies and agencies without an ancknowledgement.

So he went and stood outside Liverpool St station handing his cv out to interested people. Within 48 hours, he had two separate interviews and had accepted a job offer. Agencies are screwing up the job application process aided by numerous arsehole clients.

God, Im so glad Im retired and out of that bulltulip.

[uk contractor]

There was a lad in the paper the other day. OK, he didnt have the best academic results behind him and he was being rejected by loads of companies and agencies without an ancknowledgement.

So he went and stood outside Liverpool St station handing his cv out to interested people. Within 48 hours, he had two separate interviews and had accepted a job offer. Agencies are screwing up the job application process aided by numerous arsehole clients.

God, Im so glad Im retired and out of that bulltulip.

Agencies are a MASSIVE reason why its way harder for UK IT Contractors as they cherry pick who they think will be the best profit margin option for them. A lot of end clients are probably not even remotely aware agencies are cherry picking & sending mid range experienced candidates instead of the best possible (and not as cheap option!). This has gone on for years but now more than ever its an issue as agencies place fewer people so their internal profit margin is way more important than placing an actual higher quality candidate!

Surprised a group of UK IT contractors do not setup a stand outside Liverpool St station to hand CV's out for managers to look at & understand just how much UK IT talent is waiting on the bench to jump into any roles they might have (or replace existing IT resource who are not performing or have issues).

Hiring managers in Financial Services more than ever take the safest option (use agencies to cover their own backsides if it goes wrong!).

[1manshow]

Agencies are a MASSIVE reason why its way harder for UK IT Contractors as they cherry pick who they think will be the best profit margin option for them. A lot of end clients are probably not even remotely aware agencies are cherry picking & sending mid range experienced candidates instead of the best possible (and not as cheap option!). This has gone on for years but now more than ever its an issue as agencies place fewer people so their internal profit margin is way more important than placing an actual higher quality candidate!

Surprised a group of UK IT contractors do not setup a stand outside Liverpool St station to hand CV's out for managers to look at & understand just how much UK IT talent is waiting on the bench to jump into any roles they might have (or replace existing IT resource who are not performing or have issues).

Hiring managers in Financial Services more than ever take the safest option (use agencies to cover their own backsides if it goes wrong!).

Think you are not correct about agencies sending who will bring them the most profit. They will go for who they think will win the contract - what good is a guy who's willing to take a low rate (boosting your profit) for them to only go and flop the interview, or missing that, outdone by someone more competent?

I think there is an equilibrium in the end, too much doomsday talk here I think.

I'd like to see someone win a good contract by floating around Liverpool Street station - can only imagine what kind of company/job they end up in - probably a bitch boy/girl for the company who brings them tea/coffee on demand!

[SandyD]

Supply (all time high) & Demand (all time low). Super picky as they know they can get away with it & get the right candidate plus agencies get up to 1000 applicants within a few hours (some of those are going to be a close match). London is probably the worse place in the entire country to get an IT contract unless you have super duper niche in demand skills.

What's your skillset?

A few years ago all I had to do is update my profile and CV online (LinkedIn and Jobserve) and I'd have 4 to 5 interviews within a week, and after a few offers by the end of the week.. at the time I didn't have as much experience as I do now, however the rate was comparable... nowadays its a different matter, as they mentioned supply is at all time high, in the last few years many perms turned into contracting, and many Europeans / other nationals also arrived in London to join the contracting market (am a remainder though as there were plenty of roles to go round) .I think the uncertainty around Brexit is stopping many financial institutions from investing and exploring technology updates...

[stek]

That’s ridiculous.
GDPR is here to stay. 25th May is just the start.
Y2K was over on 1st Jan 2000

Well, 28th feb 2001 sort of.

Our on-site logging system that logged who was on site at any one time, and on the 1st Mar it reported no one on site at all.

This was a nuclear power station! Imagine if the Daily Wail got hold of the wrong end of the stick with that one.

NUCLEAR PLANT RUNNING OUT OF CONTROL WITH NO ONE ON SITE

[uk contractor]

Think you are not correct about agencies sending who will bring them the most profit. They will go for who they think will win the contract - what good is a guy who's willing to take a low rate (boosting your profit) for them to only go and flop the interview, or missing that, outdone by someone more competent?

I think you will find many agencies are more concerned with profit margin right now. I have recently seen contracts go to someone else for being £5 a day cheaper! I had one agent tell me to take £300 a day less or he would place someone else in the role (he was making £600 a day on top of the rate being offered)! I told him to stuff it then told my contacts in HR & he lost the work onsite due to his greed & bullying tactics. HR then reviewed the role & made it perm only for £40K PA so no-one won in the end!

[uk contractor]

A few years ago all I had to do is update my profile and CV online (LinkedIn and Jobserve) and I'd have 4 to 5 interviews within a week, and after a few offers by the end of the week.. at the time I didn't have as much experience as I do now, however the rate was comparable... nowadays its a different matter, as they mentioned supply is at all time high, in the last few years many perms turned into contracting, and many Europeans / other nationals also arrived in London to join the contracting market (am a remainder though as there were plenty of roles to go round) .I think the uncertainty around Brexit is stopping many financial institutions from investing and exploring technology updates...

Overseas competition is high I agree (they are also nearly always much cheaper to hire as well) but also the roles wherever possible are being automated, outsourced, onboarded, offshored or mixture of the lot. Much harder to land a contract there are so many more people looking & way fewer roles. Not sure Brexit uncertainty is making any real difference either Banks in general are all under intense pressure to globalise IT & cut costs. IT staffing is the biggest hiring cost after Front Office Traders & Bankers so many IT jobs are being converted to Perm only roles to also reduce compliance & commercial risk.

[Hobosapien]

Think you are not correct about agencies sending who will bring them the most profit. They will go for who they think will win the contract - ...

Only if the client is offering the vacancy via multiple agencies otherwise if only one agent they can choose solely on profit margin.

So really, clients should using multiple agencies and give public access to CVs received by which agency so those applying know if they've been put forward or if the position is already over subscribed. As it is clients are letting dodgy agents pull the wool over their eyes.

[uk contractor]

So really, clients should using multiple agencies and give public access to CVs received by which agency so those applying know if they've been put forward or if the position is already over subscribed. As it is clients are letting dodgy agents pull the wool over their eyes.

This times forever it seems the end clients never learn either! What do HR in these end clients actually do apart from shuffle bits of paper about nonsensical performance metrics & fill in countless holiday forms!