State of the Market

[Fraidycat]

What on Earth are the benefits to be worth 2x? lunch cooked by Michel Roux and massages from Shakira?

Permie costs 2x base salary to the employer. The difference is not just benefits.

Some of it is benefits but also employers NI, office space costs, additional HR and management overhead, equipment and software costs. Recruitment fees pro rated...

Same sort of thing applies to hiring contractors, base pay might be 500 a day. Agent gets another 10% to 20%. Equipment and software licences. Office space is less relevant these days. But a 500 a day contract end could still end up costing 700+ a day.

[SchumiStars]

Had a couple of calls from the off shore companies. Still nothing but gloom to report about however.

I did get a recuriter who seemed keen on putting me forward however because he wants to perform due diligence required 2 technical references

TBF, it's been a while since I have had even references or manager detail requests.

[dx4100]

Only the contractors in over Christmas on this gig. Rest of the company off from 5pm today....

Been reflecting on the year.

I know us contractors are meant to be made of hard stuff and so on. And agents / clients expect it as well. And we can be a little bit brutal back. But its been a really tough year and I think sometimes all sides need to remember we are all just humans and try and be a bit kinder and more understanding.

Hoping 2024 is a bit better for everyone. Very thankful I have been able to avoid the bench this year but that's more luck than anything.

[dx4100]

Had a couple of calls from the off shore companies. Still nothing but gloom to report about however.

I did get a recuriter who seemed keen on putting me forward however because he wants to perform due diligence required 2 technical references

TBF, it's been a while since I have had even references or manager detail requests.

I try and get a linkedin recommendation for each gig I work on so I can point them too that when they want something up front. Seems to work.

[SchumiStars]

Merry Christmas BTW.

[FIERCE TANK BATTLE]

Only the contractors in over Christmas on this gig. Rest of the company off from 5pm today....

My new gig, started monday 11th, waited for laptop to arrive, clocked out friday 16th, all contractors furloughed until jan but permies have to work, sat 17th my work laptop arrived

Start back in Jan

[PCTNN]

The market has been extremely quiet almost dead for the last 6 months both for contracts and permanent roles. When my contract got cut a couple of weeks ago I made peace with the the idea of being on the bench for at least 2-3 months and I was resigned to the idea of me having to accept a permie role paying peanuts just so I wouldn't burn through my savings.

Instead, just when we're approaching Christmas and in a matter of 1 week I had:
- 1 offer for a contract in the public sector paying 550 a day inside ir35
- 1 interview set up with a previous client for a contract paying 600 inside ir35
- 1 interview scheduled in the new year for a permanent role paying £80k a year plus benefits

When it rains it pours.

I turned down the offer for the 550 a day contract after all. I just wasn't feeling it. Also I've been enjoying my time off during December and just could not be arsed going back to work on Jan 2nd. I want a longer break so I can spend time with family.

Interview with previous client pushed to the 2nd week of January because everyone's on holiday and they can't find interviewers.

I've got a 12 month warchest so I'm in no rush.

[hungry_hog]

I have two possibilities at the moment:

- One to return to an old client (a nice one I got on with, not one I wanted to unleash sarin on.
- In process with another client - one interview in

Will find out more next week I think.
Ironically both possibilities emerged week before Christmas.

Other than that I think market is dreadful (not just because of Christmas). Terrible time for tech on the whole.
I think clients have also realised spending the GBP of Ghana on consultancies (whether big 4 or strategy) may not be brilliant value too, I'm hearing reports of people on the bench for 50% of their time.

[Unix]

How the market looking now? I've been in Outside IR35 contracts without a break since 2010 but reading this thread makes it sound like the game is up? Current contract end in Feb but will probably run for a few more years if I want, however was looking for a change of scenery.

[eek]

How the market looking now? I've been in Outside IR35 contracts without a break since 2010 but reading this thread makes it sound like the game is up? Current contract end in Feb but will probably run for a few more years if I want, however was looking for a change of scenery.

Market isn’t great at the moment - I would take the next renewal and then see how things are later in the year