State of the Market

[radish2008]

Who exactly said that? That's a pretty bold statement to make and I'm not sure who in such a big organisation has the authority to say that. Sounds more like someone about to commit professional suicide than a company statement to me.

I'm currently at an IB in London and my bosses boss said yesterday at the pub that if we left 5k jobs would be transferred to Europe straight away. Agreed that hiring is very slow at the minute - not checked the market as I've just been renewed.

[vadhert]

I've had a few calls this week about non finance role's around the 500-600 mark so as long as you are not bothered about the industry then there are other decent options.

[uk contractor]

I'm currently at an IB in London and my bosses boss said yesterday at the pub that if we left 5k jobs would be transferred to Europe straight away. Agreed that hiring is very slow at the minute - not checked the market as I've just been renewed.

That's just blatant scaremongering I doubt anything will change after a Brexit. Experts say it will take months for it to become apparent what changes will affect anything if at all. No-one is rash enough to suddenly axe a load of jobs unless they are already pre-planned & its just an excuse to do so & blame on Brexit. I would expect in a few years after the EU negotiations have concluded for the big changes to kick in. But regardless of in or out (I think its going to be a Brexit by a country mile BTW!) unless your working in Front Office & or customer facing job in IB sooner or later the jobs are going to be outsourced or offshored somewhere way cheaper than London that's for sure!
Its only a matter of when not if sadly but look on the bright side Brexit will also prevent lots of jobs moving to Frankfurt as the EU wants to make that the financial centre of EU so Brexit will stave that off & save plenty of jobs as well!

[edison]

I think it's difficult to talk of one market, there are different regions/sectors/skill sets that go up or down at any one time. In my little niche of Business Relationship Management, things seem very rosy and myself and a few friends have all got very good gigs at high rates recently. But I had a terrible run in most of 2014 when it was exceptionally quiet. I almost gave up contracting to go back to perm.

What worries me more fundamentally about the technology skills market is that although new jobs are being created in new sectors and skills, these will be at a lesser rate than old style jobs are being displaced or lost completely. I used to rubbish the idea that highly skilled or technical jobs could be mainly automated but given some of the technology advances in sectors like health or law, I fear IT skills may not be that far behind.

[unixman]

I've had a few calls this week about non finance role's around the 500-600 mark so as long as you are not bothered about the industry then there are other decent options.

What's your area vadhert?

[radish2008]

That's just blatant scaremongering I doubt anything will change after a Brexit. Experts say it will take months for it to become apparent what changes will affect anything if at all. No-one is rash enough to suddenly axe a load of jobs unless they are already pre-planned & its just an excuse to do so & blame on Brexit. I would expect in a few years after the EU negotiations have concluded for the big changes to kick in. But regardless of in or out (I think its going to be a Brexit by a country mile BTW!) unless your working in Front Office & or customer facing job in IB sooner or later the jobs are going to be outsourced or offshored somewhere way cheaper than London that's for sure!
Its only a matter of when not if sadly but look on the bright side Brexit will also prevent lots of jobs moving to Frankfurt as the EU wants to make that the financial centre of EU so Brexit will stave that off & save plenty of jobs as well!

Who exactly would he be looking to scare - I'm pretty sure he has more of an inside track than you do.

[tomtomagain]

I'm currently at an IB in London and my bosses boss said yesterday at the pub that if we left 5k jobs would be transferred to Europe straight away. Agreed that hiring is very slow at the minute - not checked the market as I've just been renewed.

But do we really care? The financial industry is far too big in the UK. It's been suffocating the rest of the economy for decades.

About time it was shrunk.

[vadhert]

What's your area vadhert?

London and Berks/Surrey

[eek]

London and Berks/Surrey

I think he meant what do you do rather than where do you try and work

[vadhert]

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