State of the Market

[oliverson]

I probably should be looking (I could do with some cash coming in) but to be honest I can't be arsed - I've more interesting things to play with that I should be able to monetise easily enough.

This is the thing about contracting as MF and others have pointed out in the past - there is no easier hassle free way to earn a decent amount of money.

Feel exactly the same. Whilst I've no desire to be benched come end February, out of pride, reality (and the missus) suggests I need some time off. I have several plan B's that have been lined up but not started. It really is time to look at some of these with a view to one day getting out of this industry.

[Paralytic]

It's semantics - have you ever seen a consultancy roll up to the end client and admit that they are providing contractor resources because they don't have skilled permie staff.

No, I've done it myself in the past.

What will be interesting is whether the HSBC/Lloyds decision extends to contracts written under a fixed scope/SOW model rather than the typical bums-on-seats model. In that case, I think the consultancy would have a valid complaint.

But if the consultancy is providing bums on seats, they should have saw this coming; they'd be naive to think they could provide the determination as a small client and then provide resources onto the bank.

[Bluenose]

No, I've done it myself in the past.

What will be interesting is whether the HSBC/Lloyds decision extends to contracts written under a fixed scope/SOW model rather than the typical bums-on-seats model. In that case, I think the consultancy would have a valid complaint.

But if the consultancy is providing bums on seats, they should have saw this coming; they'd be naive to think they could provide the determination as a small client and then provide resources onto the bank.

It is surprising and it is not workable.

Once the bills start rolling in for all these decisions I think there will be a deep breath.

[mattfx]

So I was very confident in December; I was getting a few calls a week to discuss various infra roles, then the New Year rolled around and the first few days was a flurry of activity... However, the last two weeks it's been dead. Stone cold, dead. Got an interview which I nailed, but then the client wouldn't wait til I finished with existing clientco at the end of the month (should've burnt them and left, they screwed me out of 3 months work due to a "policy change"). Second interview with another clientco I got, but the work was so junior it would've been to my detriment to take it on and do it when it came to looking for my next gig.

Other than those two opportunities, everything is either a pittance of a day rate (sub £300/day) or has tons of applicants.

I am actually beginning to consider a stint as a permie tractor for a couple of years, get my Azure, AWS and VMware certs and then come back to the market when everyone starts shying away from the cloud behemoths in an attempt to cut costs from all these ultra expensive consultancies they'll have been using instead of contractors.

[tsmith]

So I was very confident in December; I was getting a few calls a week to discuss various infra roles, then the New Year rolled around and the first few days was a flurry of activity... However, the last two weeks it's been dead. Stone cold, dead. Got an interview which I nailed, but then the client wouldn't wait til I finished with existing clientco at the end of the month (should've burnt them and left, they screwed me out of 3 months work due to a "policy change"). Second interview with another clientco I got, but the work was so junior it would've been to my detriment to take it on and do it when it came to looking for my next gig.

Other than those two opportunities, everything is either a pittance of a day rate (sub £300/day) or has tons of applicants.

I am actually beginning to consider a stint as a permie tractor for a couple of years, get my Azure, AWS and VMware certs and then come back to the market when everyone starts shying away from the cloud behemoths in an attempt to cut costs from all these ultra expensive consultancies they'll have been using instead of contractors.

The market has been dead for 3 years+ for me. Contracts I do get tend to be at flakey places who are just using me for a couple of months until a perm can be found. Should have gone perm a long while ago but perm role I tried had psycho boss and so quit in a month

Number of roles listed on job boards has been in steady decline to almost zero.

This IR35 business is final nail in coffin. Saw a role for 300-330 INSIDE IR35 last week. Got a call for a role yesterday at £600 a day inside - although that equates to £340 a day net of tax.

Kinda a wish Id stayed in a permalancer role I had a 5 years ago even though rate was poor. Woulda been retired by now

This feels like me: The Slow Death of an IT Contracting Career - Beware

[PlanB]

The market has been dead for 3 years+ for me. Contracts I do get tend to be at flakey places who are just using me for a couple of months until a perm can be found. Should have gone perm a long while ago but perm role I tried had psycho boss and so quit in a month

Number of roles listed on job boards has been in steady decline to almost zero.

This IR35 business is final nail in coffin. Saw a role for 300-330 INSIDE IR35 last week. Got a call for a role yesterday at £600 a day inside - although that equates to £340 a day net of tax.

Kinda a wish Id stayed in a permalancer role I had a 5 years ago even though rate was poor. Woulda been retired by now

This feels like me: The Slow Death of an IT Contracting Career - Beware

I'd seen that article before and although I think it's the work of some bitter permie "never has been", there are a few grains of truth to it.

What astounds me is talking to some of my fellow contractors their lack of financial acumen with no thought of putting away for a rainy day. The amount of times I've heard "just need another 10 years contracting to pay off the mortgage" from seasoned veterans and I silently wonder what on earth have they been doing with the money for the past decade or two.

Most of the time the wife stopped work at the outset of contracting and there is no second income/career to fall back on, so the guy has been paying out two wages for decades. Lovely that she has had time to bring the family up properly but it is an awful risk in this day and age.

Many contractors thought the contracting industry would never end, that was an awfully big assumption.

[tsmith]

I'd seen that article before and although I think it's the work of some bitter permie "never has been", there are a few grains of truth to it.

What astounds me is talking to some of my fellow contractors their lack of financial acumen with no thought of putting away for a rainy day. The amount of times I've heard "just need another 10 years contracting to pay off the mortgage" from seasoned veterans and I silently wonder what on earth have they been doing with the money for the past decade or two.

Most of the time the wife stopped work at the outset of contracting and there is no second income/career to fall back on, so the guy has been paying out two wages for decades. Lovely that she has had time to bring the family up properly but it is an awful risk in this day and age.

Many contractors thought the contracting industry would never end, that was an awfully big assumption.

Theres truth for sure. Unless youre a permalancer - there will be gaps between contracts. The gaps can easily add up to a point where you arent earning that much more than a perm. If you have been on very good day rates and with few gaps then yes - you wonder where the cash has gone for some.

Depends when they bought property too. If it was 20 years ago - pocket change. Now a 1 bed in London isnt much change from £500k.

I know somebody whos been a permalancer in public sector for 3 years +. Wife wants to stay at home and raise a family. His rent is £1600 a month. I lost touch with him a while back after their first child was born. He always seemed to be broke.

[hairymouse]

So I was very confident in December; I was getting a few calls a week to discuss various infra roles, then the New Year rolled around and the first few days was a flurry of activity... However, the last two weeks it's been dead. Stone cold, dead. Got an interview which I nailed, but then the client wouldn't wait til I finished with existing clientco at the end of the month (should've burnt them and left, they screwed me out of 3 months work due to a "policy change"). Second interview with another clientco I got, but the work was so junior it would've been to my detriment to take it on and do it when it came to looking for my next gig.

Other than those two opportunities, everything is either a pittance of a day rate (sub £300/day) or has tons of applicants.

I am actually beginning to consider a stint as a permie tractor for a couple of years, get my Azure, AWS and VMware certs and then come back to the market when everyone starts shying away from the cloud behemoths in an attempt to cut costs from all these ultra expensive consultancies they'll have been using instead of contractors.

You are about to find out more bad news when you start looking at permie roles : Everyone else has already thought of that and there is just as much competition. And nobody wants to consider a contractor who will just run off as soon as the market turns around again. Also, things are sooooo sloooow when you are looking at permie roles you'll go bananas.

Funnily enough, I've had the opposite experience to you. November and December were very dead for me, but things have picked up a bit lately. I've recently had a gig that's a real possibility and forgot what it's like to have an agent actually working the deal and calling every two hours just to make sure you are still alive and keen.

[Paralytic]

It is surprising and it is not workable.

What's not workable? Do you not think the consultancies can get permanent staff to replace the contractors they use today?

Once the bills start rolling in for all these decisions I think there will be a deep breath.

There won't be bills. Some projects will be delayed, some will go over budget, but the world will keep going around.

[Andy2]

My client has decided to bring in a number of infosys bods , cheap as chips.
Apparently they pay no income tax when on ICT visas.