State of the Market

[DrewG]

Nope - blanket IR35 and two days a week in office minimum.

I could chase roles outside banking but there are very few that can compete rate wise.

What rates are you getting in banking? What exactly do you do?

[Smoggy]

The idea of contractors going on strike is laughable. We're the ultimate free marketeers, negotiating the best pay and conditions for ourselves that the market will allow with very few rights or safety nets. If you want collective bargaining get a perm job and join a union.

[TheDude]

What rates are you getting in banking? What exactly do you do?

I am not going to discuss my rate but I am a Scala developer with expertise in functional programming.

[DrewG]

I am not going to discuss my rate but I am a Scala developer with expertise in functional programming.

Nice. You've gone up in my estimations. Did you come from Java into Scala?

So you're looking at 800 - 900 assuming front office or HFT work.

I agree, you won't find much else, especially in functional or Scala, that pays that much.

If I was an actual gun with functional programming, working inside/onsite gigs, I'd just go work for Janestreet, probably better all round and you're in an office 3/days week anyway.

[edison]

Spoke to a recruiter yesterday who I've known a long while. He originally set up his own firm recruiting perms but has switched to contractors and interims since Covid.

Interestingly he said that the decision making process has got longer in the last 12-18 months and this seems to be a permanent change with clients. A knock on effect is an increasing proportion of roles that get cancelled/put on hold during this extended decision period.

[6128k]

Back on the market from the end of this month after a couple of back to back contracts with clients who had contacted me. Will be reaching out to my network from next week, but it does feel different with fewer calls/messages.

[NorthWestPerm2Contr]

some signs the market is starting to pick up now.... I had a couple of calls and seeing a lot more roles than recently.

[northernladuk]

some signs the market is starting to pick up now.... I had a couple of calls and seeing a lot more roles than recently.

Thought you were leaving the country?

[GJABS]

This thread is starting to grow on me. "It was the best of times, it was the worst of times.."

I've been in the same situation many times, wondering if I will find a contract, customising the CV/ email/ phone call to agent/ yeah yeah we'll send your profile across/ silence. While you only need 1 offer, if there is literally nothing coming through it is depressing. You start off wanting to work local, and you start extending the search to "all of UK" then eventually "all of Europe". Eventually you get something, and you relax and tell yourself not to get so stressed about it next time.

I hope you're right. I've been firing off applications on Jobserve for the past month, and had exactly one agent call about a contract role. It's making me uneasy.
I might have to up my game and start proactively calling agents and start to blag it a little (be economical with the truth re my experience etc). Which has worked in the past, but I don't like to do it as it is basically dishonest.

[Bluenose]

I hope you're right. I've been firing off applications on Jobserve for the past month, and had exactly one agent call about a contract role. It's making me uneasy.
I might have to up my game and start proactively calling agents and start to blag it a little (be economical with the truth re my experience etc). Which has worked in the past, but I don't like to do it as it is basically dishonest.

Looking at the booking forecast for Spain most of the U.K starts leaving for holiday's in two weeks from now. The Spanish tourist board is expecting a near record year and in some places, records will be smashed for hotel occupancy rates.

I would not be too precious about getting on the phone next week.

As for Banks paying the most money, that's not a view I have agreed with for years now. Rates have been on a steady decline in banks since 2011. Yeah, you know you'll see the odd unicorn assignment pop up now and again and someone will know someone who knows someone working in a front-office role earning two clap a day but these stories are getting less believable as time passes whereas before 2011 the whole place was raining with money.