State of the Market

[eek]

Contract rates are definitely lower because supply is greater than demand.

I suspect permie salaries are also lower for similar reasons...

[northernladuk]

Contract rates are definitely lower because supply is greater than demand.

I suspect permie salaries are also lower for similar reasons...

Whilst looking I was struggling to get an average to compare to pre IR35 legislation levels. The outside rates I saw seemed in a fairly narrow range and generally what I'd expect but with the majority of gigs being inside and them being anything between 300 and 800 a day I can't gauge whether it's generally gone down over all

[BigDataPro]

Contract rates are definitely lower because supply is greater than demand.

I suspect permie salaries are also lower for similar reasons...

+1. It has definitely gone down. In the Data Engineering domain it's now around 55K - 60K, whereas it was £70K - £85K before.

[dsc]

+1. It has definitely gone down. In the Data Engineering domain it's now around 55K - 60K, whereas it was £70K - £85K before.

Holy smokes that is a hefty drop is this simply driven by the sheer amount of candidates on the market?

[JustKeepSwimming]

Financial Services, definitely been a drop in perm salaries. I would say the salary bands have stayed the same but new starters get put near the very bottom whereas during 2022 you could easily be very near the top. Depends on the bank but a band can be £20k top to bottom.

[Fraidycat]

+1. It has definitely gone down. In the Data Engineering domain it's now around 55K - 60K, whereas it was £70K - £85K before.

I remember having a conversation with an Agent back in late 2001, it was a face to face meeting in his office. The contract market had busted and he asked me what perm salary I would consider, I said 70K (that was the going rate for top end developers in 2001). He laughed and said 'you are not going to get more than 50K now' . That was 22 years ago

[oliverson]

I remember having a conversation with an Agent back in late 2001, it was a face to face meeting in his office. The contract market had busted and he asked me what perm salary I would consider, I said 70K (that was the going rate for top end developers in 2001). He laughed and said 'you are not going to get more than 50K now' . That was 22 years ago

Back in 2005, the second year of my contracting career, the client, a retail bank in the North of England wanted to move from hourly to day rates. We'd been hammering the hours and I'd kept a spreadsheet of mine. It equated to a day rate of £ 450 and that's what I got. In today's money that would be around £ 756.

https://www.bankofengland.co.uk/mone...ion-calculator

Didn't have any expenses either other than a short commute to site and free parking most days.

Little did I realise back then, when I had my eye on the London investment banking sector, that I'd already peaked (in financial terms).

The good old days!

[BigDataPro]

I remember having a conversation with an Agent back in late 2001, it was a face to face meeting in his office. The contract market had busted and he asked me what perm salary I would consider, I said 70K (that was the going rate for top end developers in 2001). He laughed and said 'you are not going to get more than 50K now' . That was 22 years ago

You don't have to go that far. Even during 2021 around July, Perm market was Ok but I wasn't interested. Now everything has come very close the level of Civil service perm role rates (a.k.a rubbish).

[Fraidycat]

You don't have to go that far. Even during 2021 around July, Perm market was Ok but I wasn't interested. Now everything has come very close the level of Civil service perm role rates (a.k.a rubbish).

The nature of the cyclical IT jobs market, we go from being treated like Kings to be treated like Grunts.

[quackhandle]

Anywho it's still slim pickings out there.


qh