State of the Market

[tjccjt01]

I didn't post a reply but when I read it I was thinking, no way would I work for that rate. However that's me and I have a bit of a war chest so I don't get so desperate that I would need to accept this rate which is half of my current. This guys situation might be different but if he waited 2 months then got £500 a day after 4 months contract he would be up overall quite a bit vs the £275.

6 months at £275 : £33K
2 months off then 4 months at £500: £40k

(assuming 20 day months)

Or work the £275 role for a couple of months while still looking for a new role. Once that's secured tell the cheap b*st*rds to get stuffed.

2 months at £275: £11k
4 months at £500: £40k
Total £55k

On the subject of cheap b*st*rds I got an email from an agent. R&D Engineer role, C#, cellular comms. £192 a day. Told them what my rate was. Haven't heard back :-)

T

[ladymuck]

That is a sound point. If you're strapped for cash then earning something is always going to be better than nothing.

[sreed]

Opinions will differ but in my book, as a contractor, earning something and (as importantly) keeping busy is always better than earning nothing or an enforced break from work.

Unlike a permie who might need to paint a certain picture on their CV, I can always keep looking for something better irrespective of the current contract that I’m on. And with remote/hybrid working and hiring done on phone+Teams, there’s a lot less friction in perusing the market than there used to be pre-Covid.

[Unix]

Opinions will differ but in my book, as a contractor, earning something and (as importantly) keeping busy is always better than earning nothing or an enforced break from work.

Unlike a permie who might need to paint a certain picture on their CV, I can always keep looking for something better irrespective of the current contract that I’m on. And with remote/hybrid working and hiring done on phone+Teams, there’s a lot less friction in perusing the market than there used to be pre-Covid.

When I take a contract I commit to finishing it. It's part of my work ethic so wouldn't take something then jump every time a higher rate appears. It's served me well with extension, returns to old clients. I would rather take a month off and preserve my dignity with not taking a low rate. What's next working in McDonalds just to keep the pennies coming in?

[tjccjt01]

When I take a contract I commit to finishing it.

I've been let go early in a contract when the client decided they didn't need so many bodies or the project got canned. It happens and I don't take it personally.
There are reasons we have contracts and one of them is so that either party can call time on the arrangement if their circumstances change.

T

[sreed]

When I take a contract I commit to finishing it. It's part of my work ethic so wouldn't take something then jump every time a higher rate appears. It's served me well with extension, returns to old clients. I would rather take a month off and preserve my dignity with not taking a low rate. What's next working in McDonalds just to keep the pennies coming in?

Good for you, to each their own!

My approach has served me well too, especially as a contractor. I had far too much loyalty as a permie.

And personally I don’t think any job/role is ‘beneath me’, but my attitude is perhaps now an old-fashioned work ethic.

[Bluenose]

Jan 2024 burner phone report: Not a single ring all month but battery and SIM are tested & working. Continued silence means further recruiter redundancies IMHO.

I will repeat what I said during the pandemic, keep perspective and don't do anything stupid. If you need to speak to someone, post in the forum, many already have done.

[gixxer2021]

I tend to find the lesser paid contracts harder work than the better paid ones.

I agree with the other on this too! I tend to find them more micromanaged, expected onsite most or all of the time, less autonomy and worse working conditions. That said I’d always consider if I needed the money and the market was bad.

[Unix]

I've been let go early in a contract when the client decided they didn't need so many bodies or the project got canned. It happens and I don't take it personally.
There are reasons we have contracts and one of them is so that either party can call time on the arrangement if their circumstances change.

T

That's true and fine, but going in to contract knowing you will be jumping as soon as possible is not the same. Would you like it if a client took you on knowing once they found another contractor half you rate they would terminate you even if it was a week after you started?

[northernladuk]

That's true and fine, but going in to contract knowing you will be jumping as soon as possible is not the same. Would you like it if a client took you on knowing once they found another contractor half you rate they would terminate you even if it was a week after you started?

I agree and I'm the same doing everything in my power to see a contract to the end. Only given notice once in 15 years and that's because I was 6 weeks in with a council ad they hadn't given me a bean of work. Total waste of everyone's time so left with their blessing.

Sometimes a client does need to terminate, they do it for budget/project/face fits. They very rarely do it lightly and not for the reasons as mentioned above so I don't think it's right to assume every client is a bunch of tossers for you to dump for the next 20 quid rate hike. If we all did that then the clients would respond in kind and we really won't like that. I remember Barclays used to offer awful rates back in the day so everyone used them as a backstop. Joined, worked until they got a new gig and left. It was so prolific they introduced no notice contracts. Granted it was their own fault because of the god awful rates but an example of what happens when groups of contractors go mercenary.

Just my opinion and am well aware there are plenty of mercenary contractors out there that seem to think there is no issue but it would be chaos if everyone did it..