Originally posted by Fraidycat
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State of the Market
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Originally posted by Skag View Post
But when did the stockmarket follow any logic though? See Covid time, 2013... etc
The IT job market did the same thing.
Although the FTSE 100 held up well last year, the FTSE 250 was down 20%. So I guess we are currently feeling the effects of that.Last edited by Fraidycat; 25 January 2023, 10:47.Comment
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In terms of the state of the U.K Contracting market, the outlook is grim, unless the U.K Government does something positive (unlikely) but, that's to do with regulation, not necessarily the demand for tech workers or, the wider U.K economy.
In terms of the state of the U.K and World economy, the recession (if one appears) this year should be a shallow and short one. Nobody is expecting a 2001/2008/2020 style bust in the jobs market.
If anything we have had our bust already in 2020, the problem is that the U.K Government is strangling the I.T industry slowly and I can't see 2023 or 2024 being good years hence, my desire to leave the U.K.
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Originally posted by SussexSeagull View PostAgree with the above but as ever you only have to get it right once to land a contract.Comment
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Originally posted by mogga71 View Post
TBH if you are in your late fifties I think you probably have a better chance with contracting than permie. I am at a big IB in the City and there are literally hundreds of over 50s contractors and hardly any over 50 permie devs. One thing I have noticed is that a lot of them work on back-end technology .... a lot being database and data pipeline specialists. Youngsters seem to be a bit scared of the relational DBMs monsters ... probably for good reason in this big data age.
Originally posted by Bluenose View Post
Absolutely true but my Jobserve spam gauge is currently reading 40% lower activity than it was last June. That means its tough out there right now.Comment
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Originally posted by The Green View View Post
Never worked in IB and I gather it's a bit of a closed shop unless you have prior experience.
Goldman Sachs, Morgan Stanley etc. set the bar quite a bit higher but still recruit from outside the industry.
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Originally posted by Bluenose View Post
Absolutely true but my Jobserve spam gauge is currently reading 40% lower activity than it was last June. That means it's agreetough out there right now.
Baskin the old days the way round 200 people applying for every contract was to apply for 200 contracts but that isn't possible anymore.Comment
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Originally posted by The Green View View Post
Yes, it's got so bad that I'm even answering calls from Indian recruiters rather than my usual "not today, thankyou" line.
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Originally posted by Fraidycat View Post
The stock market did crash during covid but quickly recovered after central bank and government interventions. So it was quite logical.
The IT job market did the same thing.
Although the FTSE 100 held up well last year, the FTSE 250 was down 20%. So I guess we are currently feeling the effects of that.
Conversely, the FTSE250 is very UK economy focused, lots of retailers, property companies, housebuilders and others that are sensitive to consumer spending and often quite cyclical. I imagine FTSE250 firms will be more likely to be cutting back on hiring this year.Comment
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