2 Offers: Modern Tech at a Big Bank vs. Laid-back Fintech Company

[Montyuk]

That type of role does not command that type of day rate.



QUOTE=ujjain;2292723]Well, then don't believe it. It's not going to be far off from that number anyway as I applied daily for 2, 3 weeks on a lot of roles on the big 8, 9 job boards. I have sent between 500 and 1000 e-mails (many copy-paste) and 100+ of LinkedIn messages too. I think this helped achieve a higher contract rate.

The Fintech deal fell through, they couldn't get the rate approved, even though it seemed approved at first and I received all the paperwork, including the contract etc.

So I'm going to work for the bank anyway, I have received the contract yesterday and let's hope this one will go through fine.[/QUOTE]

[JaredM]

That type of role does not command that type of day rate.

I once worked next to a guy who was on £550/day for developing contact forms for a client in the South West. I had the same thought.

Would take him 3-4 days to develop a basic (and I do mean basic) contact form and for whatever reason his stuff never showed up properly in the .NET form designer (back in the early days of ASP.NET/WebForms). Later I found out he chose to 'hand craft' his forms which is why they didn't appear properly...

Client was happy though and kept him on for over a year.

[MrMarkyMark]

That type of role does not command that type of day rate.

The main issue as far as I'm concerned is that he's not experienced and/or confident with his abilities.

That is what is needed for that sort of role, leading international calls for 50+ participants, negotiating with other senior tech architects, providing true leadership etc.

[fool]

Yeah, I'm not really confident about how I would do at the role at the bank. But how much experience can somebody help with designing infrastructures with micro-services, Docker, Kubernetes, Ansible/Terraform, etc.? They're all modern technologies.

You're kidding, right?

[ujjain]

I was contacted by a recruiter of the bank yesterday about working for them, as I applied before directly on their site as well. So maybe I could've gone direct, but that's too late now.

I thought I once read that banks hire their contractors always via recruitment firms, but that's probably not true and apparently you can go direct then. The recruitment agency claims to make 11% on the deal, so not that much anyway, but could've been could long-term asking for more money later.

[northernladuk]

I'll bet it was a sub form managed by the recruiter. A large pharma up here has a temp resource area off the main website but it's wholly managed by their incumbent agent.

I very much doubt it would have been direct.

[MrMarkyMark]

In my experience of "direct" you will end up with the in-house agent, for the bank, whether that be Hyphen, Resource Solutions etc.

Anyway, I thought the OP had the offer on the table.
£750 PD, happy days

[Montyuk]

Often the banks do have direct recruiters and they handled by other companies so they still have an agent acting inbetween, however these are on site.

I was contacted by a recruiter of the bank yesterday about working for them, as I applied before directly on their site as well. So maybe I could've gone direct, but that's too late now.

I thought I once read that banks hire their contractors always via recruitment firms, but that's probably not true and apparently you can go direct then. The recruitment agency claims to make 11% on the deal, so not that much anyway, but could've been could long-term asking for more money later.

[LondonManc]

I was contacted by a recruiter of the bank yesterday about working for them, as I applied before directly on their site as well. So maybe I could've gone direct, but that's too late now.

I thought I once read that banks hire their contractors always via recruitment firms, but that's probably not true and apparently you can go direct then. The recruitment agency claims to make 11% on the deal, so not that much anyway, but could've been could long-term asking for more money later.

You won't get more money. The agents at banks start at 11% and that gets reduced as the contract progresses from what I've heard, which means they'll have no margin to pass on to you.

[MrMarkyMark]

I was contacted by a recruiter of the bank yesterday about working for them, as I applied before directly on their site as well.

Well, then don't believe it.

So I'm going to work for the bank anyway, I have received the contract yesterday and let's hope this one will go through fine.