State of the Market

[SussexSeagull]

It is always these factors generally, not one or other ahead of the others.

Plus clients just keep on interviewing until they find someone who fits the criteria 110% and are beginning to play the 'right fit' card a lot more.

I read on LinkedIn someone got turned down for a job for being too friendly in an interview. Assuming they didn't hug the interviewer on arrival that sort of thing is turning recruitment into a speed dating event.

[SandyD]

I read on LinkedIn someone got turned down for a job for being too friendly in an interview. Assuming they didn't hug the interviewer on arrival that sort of thing is turning recruitment into a speed dating event.

A looong time ago at the start of my career I worked for a bitch manager who complained to the director that I come to work too early in the mornings and that stressed her out !!

[SandyD]

You have to specialise and differentiate to survive

Not too specific specialty IMO ... so its OK to specialise in Regulatory / Compliance related change/IT or Trading systems and have a few of those under your belt is good, but to be specialised in one specific area is not a good idea, a friend of mine worked on Market risk for years and years and refused to diversify, his CV looks like a one trick pony ... and when Market risk work dried up, he couldn't find anything for a couple of years.

[SussexSeagull]

Ultimately look after your network and keep your skills up to date. The rest isn't really in your hands.

[uk contractor]

A looong time ago at the start of my career I worked for a bitch manager who complained to the director that I come to work too early in the mornings and that stressed her out !!

Sounds just like an IB I worked at a few years ago.....the perms told me quite clearly one day I was making them look bad by turning up on time & not complaining about weekend work!! They suggested I should follow their slacker attitude if I wanted to remain on good terms with them

[Brummie]

Not all doom and gloom

"Barclays also said it would be creating 2,000 technology jobs to “draw upon the talent pool” in the UK. Half of those have already been filled, with the rest being hired in the coming three years"

https://www.theguardian.com/business...staley-profits

My previous assignment that ended in March'17 was with this client. I believe it refers to permie workforce as opposed to contract workforce.

[uk contractor]

My previous assignment that ended in March'17 was with this client. I believe it refers to permie workforce as opposed to contract workforce.

Yeah I think its perm as well. I still keep in touch with some of the perms I worked with in my time there & they all tell me the same thing that the perm job cuts were savage & good people who had many years service with them were amongst the first to be let go due to how high their salaries had climbed over the boom years meaning they were earning more than the managers! A lot of teams are understaffed now for the workloads but like with many large banks contractors are not in favour its all about outsourcers or consultancies to share the perceived risk if they hire the wrong person.

[pauldee]

Yeah I think its perm as well. I still keep in touch with some of the perms I worked with in my time there & they all tell me the same thing that the perm job cuts were savage & good people who had many years service with them were amongst the first to be let go due to how high their salaries had climbed over the boom years meaning they were earning more than the managers! A lot of teams are understaffed now for the workloads but like with many large banks contractors are not in favour its all about outsourcers or consultancies to share the perceived risk if they hire the wrong person.

Tribunal

[uk contractor]

Tribunal

You have to prove it though. Pretty difficult to do in reality. Some guy was there for many years so he was earning way more than the new manager in the team (to be fair he had become dead wood anyway as he would not pull his weight but still its very underhand and highly illegal). They tend to go down the route of your appraisal was below average due to specific factors vs your co-workers so most people leave of their own accord once they put the pieces together in their minds that they are effectively being shown the door. Apparently once you get 3 below average appraisals they can just sack you after the required verbal & written legal warnings and just pay your notice period with no handshake payoff.

[Bluenose]

There was signs of life in the first quarter of the year but the financial new year seems to have killed it.

In my experience (before someone comes in and says I have been offered a dozen contracts in the last 24 hours).

My phone was white hot at beginning of year. Dead as a dodo in April. Coming up to peak season for me (June, July) so will be of interest what happens from 2nd week of June.

On a related note I have one good friend and ex-colleague who is taking a right shafting from a big consultancy on rate at the moment. From what I can see the outsourcers and consultancies are no the problem, the problem is that they are using further middle men to source contractors.

When everyone is taking a piece, what you are left with can just be the crumbs and not the pie.

Best advice I can give is to look beyond London for roles. Which is the inverse of the advice I generally give in times of recession.