State of the Market

[PerfectStorm]

I seem to have noticed that day rate and stress levels are inversely proportional so I think it will be a no to lowly paid roles from now on. Just hooe I never get that desperate.

100% spot on.

Also the higher number of interviews, and the more people in them, the crapper the gig

[Gould The Swimmer]

Also what is stress? A full busy days work stresses some people out and it's what we are paid for.

There's good stress and bad stress.

The good stress is where you have a challenging role and you are busting a gut to hit your targets but within a good team with well defined processes.

The bad stress is where a whole bucket load of ordure has been dumped on you, absolutely no support and possibly one or two toxic personalities in the mix.

[agentzero]

I'm seeing plenty of activity and I am calling agents before applying for roles. I've secured a role but I am being sensible and continuing to apply for other contracts until one of the contracts starts.

What has been highlighted already is true. Rates are slightly down but are also inside IR35. I've been lucky to secure a much higher rate to compensate for this, but I think it could be advantageous to MVL soon, accept a higher paying inside IR35 contract and try to extend it for up to a year or two before then aiming for outside contracts once the dust has settled. Right now clients are panicking and agents taking advantage of this to spread misinformation about the truths of IR35, selling dream solutions.

I've never worked inside IR35 before and truthfully have worked on outside IR35 contracts with full tight deliverables and a solid SoW. I've made this my aim for years, but I have to be realistic about what the immediate 12 to 18 month future holds.

In speaking to agents they have said large numbers of people in London, SE and SW England are applying for jobs in NW and NE England and central belt of Scotland, as they are expecting remote work. This is driving rates down and also highlights that London seems to be seeing a major recession across the contracting industry that is on par or worse than 2008/9.

[bownyboy]

Well after a good 4 weeks of working my network, reviewing Linkedin, speaking with recruiters and having a number of conversations with clients, I finally got offered a 6 month outside gig today.

Day rate is good, same as the last couple of years.

For me, things really picked up in the last couple of weeks, I was being contacted directly a few times a week which never happened last year.

Also many companies were saying the reason they were hiring was due to a huge pent up demand especially for government contracts which is were I was expecting my next gig to be, however they were taking too long to sign things off, so went with a commercial client instead.

Hang in there everyone, its been a tough year, but it feels like there are some 'green shoots'!

[northernladuk]

Well after a good 4 weeks of working my network, reviewing Linkedin, speaking with recruiters and having a number of conversations with clients, I finally got offered a 6 month outside gig today.

Day rate is good, same as the last couple of years.

For me, things really picked up in the last couple of weeks, I was being contacted directly a few times a week which never happened last year.

Also many companies were saying the reason they were hiring was due to a huge pent up demand especially for government contracts which is were I was expecting my next gig to be, however they were taking too long to sign things off, so went with a commercial client instead.

Hang in there everyone, its been a tough year, but it feels like there are some 'green shoots'!

Should be getting busy. The merry go round of people leaving gigs that are outside to inside should be starting about now. Job market last two weeks of March in to April should be absolutely mental.... but I bet it's not.

If you are going for a gig outside have you asked them what the the client is doing in April? May get a nasty surprise if you don't

[jayn200]

There's good stress and bad stress.

The good stress is where you have a challenging role and you are busting a gut to hit your targets but within a good team with well defined processes.

The bad stress is where a whole bucket load of ordure has been dumped on you, absolutely no support and possibly one or two toxic personalities in the mix.

What you call bad stress seems like pretty standard day in the life of a contractor. I guess it depends what you do in what industry but quite often a contractor is brought in because client lacks those skills or subject matter expertise so they won't be able to support you very well. On top of that because they have no idea how to deliver the piece of work they also can't budget for it properly so might be extremely unrealistic in their expectations. Lots of times you're taking over for someone else who already failed to deliver and the project is late and so those toxic personalities might be getting tulip on a regular basis for this project that's way off course.

But I am also thinking when you mention "challenging role and you are busting a gut to hit your targets but within a good team with well defined processes" this sounds like perm employment not contracting.

[coolhandluke]

Well my first adventures back into permie-land have ended after 9 months. Final nail was the announcement that we will be getting a bunch of contractors in to help with the workload.

A long notice period means a jump into another permie job but one with a view to enter back into contracting in a year or so if possible.

Perm market seems to have exploded in the last 2 weeks. Even had a couple of calls about contracts too.

[ladymuck]

Well my first adventures back into permie-land have ended after 9 months. Final nail was the announcement that we will be getting a bunch of contractors in to help with the workload.

A long notice period means a jump into another permie job but one with a view to enter back into contracting in a year or so if possible.

Perm market seems to have exploded in the last 2 weeks. Even had a couple of calls about contracts too.

Ouch. That's harsh. I think I'd be tempted to jump ship too. Good luck!

[PerfectStorm]

I nervous wait currently while I see if the gig I have ending at the start of April renews, and what it becomes from an IR35 perspective.

Normally I'd say, "embrace the change" and go on holiday for a bit while the job market calms down and all the £150/day stuff goes away. But currently going on holiday is illegal.

[quackhandle]

I finish with current client at end of this month, so wondering if I can sit it out for a few months and see how this plays out.

You just know we are going to get shafted once again this Wednesday by Sunak/HMRC, et al. Successfully applied for a bounce back loan, so that will help to fall back on, should I need it.

Had one or two agents asking why I won't work inside IR35, or go FTC.

"Because I'm freelance, a business in the true sense of the word. I've never ever worked Inside or FTC.

Pimp: "But working Inside is Freelance as well."

Hoo boy, gonna be long three months.


qh