State of the Market

[Snooky]

Starting year3 on the bench

I think after 3 months I would be taking whatever work I can find, inside IR35, FTC, perm etc. Perhaps you already have.

After 6 months I would be very seriously looking at retraining or some other way of switching into an occupation where I had a good chance of finding reasonably paid work, even if it wasn't the big bucks I might have been accustomed to previously.

I find it impossible to believe that, absent of any disabilities that might limit their scope, anyone is unable to find paid work within 2 years, so I assume you have a healthy warchest or some other type of income and are patiently waiting for something that you consider appropriate to your expectations rather than anything which will pay the bills.

[avonleigh]

I think after 3 months I would be taking whatever work I can find, inside IR35, FTC, perm etc. Perhaps you already have.

After 6 months I would be very seriously looking at retraining or some other way of switching into an occupation where I had a good chance of finding reasonably paid work, even if it wasn't the big bucks I might have been accustomed to previously.

I find it impossible to believe that, absent of any disabilities that might limit their scope, anyone is unable to find paid work within 2 years, so I assume you have a healthy warchest or some other type of income and are patiently waiting for something that you consider appropriate to your expectations rather than anything which will pay the bills.

My thoughts too. Find it incredible anybody can last 2-3 years without working in this day and age when everything is so expensive. I personally could get to 18 months with savings. But as you say 3 months out I would also be taking whatever I could. 12 months out I would be getting out of IT and doing something else altogether.

[SussexSeagull]

Couple of responses to points raised:

There is only so much the UK government, of any colour, can do. They can restrict Visas but it is very difficult to stop companies offshoring work, especially when you consider most of these companies are international anyway. As it stands Indian offshoring is much cheaper than getting it done in the UK (granted that doesn't take into account quality or getting it right first time but accountants run the show).

If you are semi retired and in a financial position to hold on for an outside contract then fair enough but for the rest of us it gets to a time being out of work where you either go inside, FTC, permit or find something else to do. The market does decide these things.

[Protagoras]

you forgot the 70's and 80's.
When real freelance contracting was around.

I rather assumed (possibility incorrectly) that anyone contracting in the 70s or 80s would have retired in a life of luxury some time ago, and wouldn't be reading about the state of the market

[Protagoras]

I find it impossible to believe that, absent of any disabilities that might limit their scope, anyone is unable to find paid work within 2 years, so I assume you have a healthy warchest or some other type of income and are patiently waiting for something that you consider appropriate to your expectations rather than anything which will pay the bills.

I think it depends on personal circumstances, but the big challenge after a long absence is surely convincing anyone that one has current skill and domain knowledge.

[fatJock]

Suppose your company has financial obligations of its own - car lease, flat lease, life assurance, joint-shareholder, all of which require paying at some point. I'm not saying my company has these commitments currently but it has in the past. What do you do to meet those commitments? Pay into your company from the proceeds of heavily taxed inside income? What about expenses incurred in the context of servicing that inside contract? i live about 240 miles from London when I'm in the UK, or 1,400 if I'm out in Spain. Without the ability to claim those expenses, which over my 10 year stint working in London finance averaged out at around £ 30k p.a., I'd have to stump up those expenses, again out of heavily taxed income. And of course, most of the rates, even in London finance for inside roles aren't really that much more than what they were when they were outside.

That's just the financial side. Any company that couldn't give a rats arse about the suppliers they work with, well it says it all to me.

I operate inside and outside depending on the gig - my company has the funds to meet it's obligations from 8 years of such mixed trading. Having zero income on principle is a larger problem given you can always loan in money to your company as a director. As for expenses - you figure out what you'd lose and you compensate for it in an increased day rate.

My inside rate is 25% more than my outside rate and I tend to only work on gigs that are predominantly WFH. In my personal situation working inside or outside is financially irrelvant.

[sadkingbilly]

And you cycled to work on your penny farthing!

Triumph Bonneville or cortina 2.0 E, depending on weather/mood/location. (70's)

[fatJock]

And how very timely, just got off the phone to one of our Indian friends looking for a backend contractor, London 3 days a week, Inside IR35, £ 400 / day.

THAT, ladies and gentlemen is the state of the market!

It's the state of your market and the permanent low ball offers from off shore suppliers. Not suggesting anyone takes such a role but 400 a day inside is better than zero income at all .... which is kind of my point.

[sadkingbilly]

I rather assumed (possibility incorrectly) that anyone contracting in the 70s or 80s would have retired in a life of luxury some time ago, and wouldn't be reading about the state of the market

retired twice,so far.
get bored easily, and people keep making me offers that are very difficult to refuse.
Oh, and ex wives tend to detract from one's 'life of luxury'

[fatJock]

My thoughts too. Find it incredible anybody can last 2-3 years without working in this day and age when everything is so expensive. I personally could get to 18 months with savings. But as you say 3 months out I would also be taking whatever I could. 12 months out I would be getting out of IT and doing something else altogether.

Snap - I can't imagine not having had work for three years yet still waiting for something to happen. If it wasn't happening after 3, 6 or 12 months I'd accept that it's me, my skills or my priorities that are the problem.

If you can afford it - fair enough but that money being burnt on the bench could be better used IMO.