Thinking about contracting

[WTFH]

I'm all of those. 13 years and counting so please don't try lecture me on 'contracting'. With around 12 clients I have a very strong network. Insurance is stronger than banking. Plenty of work? Having a laugh unless you're very cheap. Check out the thread 'state of the market'. 750 applicants for a single role. Unfortunately I don't value your shallow opinion.

You may not value it, but that doesn't mean it's wrong.
There is work out there.
There are contracts coming up where < 10 people are in the running.
Rates are not falling in all areas.
As a contractor, we travel for work. Might be more difficult in the next few years due to certain political changes, but you can blame permies for that.
As a contractor, we take the highs with the lows and look for new opportunities, maybe in different market sectors. The finance sector has, for many years, been a no-brainier licence to print money. The companies used to be able to ride out the storms by passing the blame on to others, but now it's sticking with them so they are cutting back. The problem (for some) is that the UK is a strong finance centre, so if we're unable to get work in Europe or if your skillset/experience is purely finance, then you'll struggle.
Construction, manufacturing and medical industries globally are still hiring at good rates for good people.

The world isn't going to end tomorrow, unless you've got a defeatist attitude.

[ShandyDrinker]

You may not value it, but that doesn't mean it's wrong.
There is work out there.
There are contracts coming up where < 10 people are in the running.
Rates are not falling in all areas.
As a contractor, we travel for work. Might be more difficult in the next few years due to certain political changes, but you can blame permies for that.
As a contractor, we take the highs with the lows and look for new opportunities, maybe in different market sectors. The finance sector has, for many years, been a no-brainier licence to print money. The companies used to be able to ride out the storms by passing the blame on to others, but now it's sticking with them so they are cutting back. The problem (for some) is that the UK is a strong finance centre, so if we're unable to get work in Europe or if your skillset/experience is purely finance, then you'll struggle.
Construction, manufacturing and medical industries globally are still hiring at good rates for good people.

The world isn't going to end tomorrow, unless you've got a defeatist attitude.

Great to see some positivity. The above is a something we're all going to have to adapt to whether it be targeting a different sector, upskilling or take low rates in a different sector to ensure you stay in work.

I do agree with Oliverson's post that it probably wouldn't be a good time to start in contracting for the reasons stated.

While some or even many on here may be able to use their existing networks to get roles even now then good luck to you. However, count yourself lucky (yes, you make your own luck etc etc) but there may come a time over the next few years where you cannot use your network as you're in competition with them as roles are disappearing. The bottom line is that whichever way you spin it, being in competition with 750 other people for what are specialist technical roles is not good.

It's a tough time to be a contractor, no doubt about it. That's before anyone has even considered what nasty surprises the Chancellor will have in the Autumn statement for a sector considered such easy low hanging fruit as ours.

[Big Blue Plymouth]

That's unfortunate for you. If true, perhaps you need to look into your interview skills and telephone manners with the agents? If your network is so strong, how about getting in touch with them and meeting them all for drinks after work.

750 applicants means absolutely nothing. As a seasoned contractor, you should know this. Most roles don't even get advertised on the market. Those that do are usually because the agent is trying to gather CVs or the recruitment manager has already been through all the best candidates from the agents and is looking for a perfect fit.

I've had repeat business from several large companies over the years. These were working in the insurance and utilities sectors.

All of them now use consultancies and have no contractors on their books. Doesn't mean to say it's going to stay that way but for the time being it means that they and others who follow the same model are off limits.

That's a lot of contracts.

[oliverson]

That's unfortunate for you. If true, perhaps you need to look into your interview skills and telephone manners with the agents? If your network is so strong, how about getting in touch with them and meeting them all for drinks after work.

750 applicants means absolutely nothing. As a seasoned contractor, you should know this. Most roles don't even get advertised on the market. Those that do are usually because the agent is trying to gather CVs or the recruitment manager has already been through all the best candidates from the agents and is looking for a perfect fit.

I feel I'm pretty strong with all of this. Prior to being a developer I spent over a decade in customer facing/negotiating roles. I think it's true to say that networking is probably the best chances of landing another role, which is what happened on this one which sadly ends next week. Only the dregs end up on Jobserve these days. I think part of the problem is the London finance market in which I operate mainly. My contacts in the banks are saying the same thing - plenty of work but permies only or the consultancies are in there, or they have offshore teams doing the work now. It feels very much like the days of the typical contractor in this sector are numbered. In some respects that's a good thing for me because it forces me change. Hell, I might even get contract work closer than 225 miles from home, albeit on a lesser rate. Ah well, more to life than money.

[freelancelife]

I moved from permanent to contract and would recommend the move. Despite there being less contract roles on the market than perm the rates are still significantly better.

To secure a new contract role however you can't be picky and focus on one area (like Central London). You need to be willing to work 2,3,4 hours plus from your current location. This is a lesson I learnt from several contractors who had been in the business for over 20 years. Flexibility is key. You may be working in Bristol one year and Reading the next.

You need to be willing to rent accommodation away from home as well as allocating time to paperwork for your ltd company every month.

You also need to overhaul your CV so you target a specific niche area. That is a specific application or operating system in the world of IT. You don't want to come across as a jack of all trades.

[MrMarkyMark]

I moved from permanent to contract and would recommend the move. Despite there being less contract roles on the market than perm the rates are still significantly better.

To secure a new contract role however you can't be picky and focus on one area (like Central London). You need to be willing to work 2,3,4 hours plus from your current location. This is a lesson I learnt from several contractors who had been in the business for over 20 years. Flexibility is key. You may be working in Bristol one year and Reading the next.

You need to be willing to rent accommodation away from home as well as allocating time to paperwork for your ltd company every month.

You also need to overhaul your CV so you target a specific niche area. That is a specific application or operating system in the world of IT. You don't want to come across as a jack of all trades.

Depends on what you do and whether you have a choice of industry sectors.
When you start you have to be truly flexible as this allows you to build up the war chest etc.

Good comment, but soft skills are very valuable too. This is often what will differentiate the need for an onshore role, rather than an offshore role.
Having worked with a lot of offshore teams, I recognise what works and what doesn't. To have a chance of making it work you need people onshore to do the management, IMO.

[SueEllen]

I've had repeat business from several large companies over the years. These were working in the insurance and utilities sectors.

All of them now use consultancies and have no contractors on their books. Doesn't mean to say it's going to stay that way but for the time being it means that they and others who follow the same model are off limits.

That's a lot of contracts.

The consultancies use contractors though as they don't tend to have the permanent staff with the expertise. However you only want to work with the niche ones.

[freelancelife]

Depends on what you do and whether you have a choice of industry sectors.
When you start you have to be truly flexible as this allows you to build up the war chest etc.

Good comment, but soft skills are very valuable too. This is often what will differentiate the need for an onshore role, rather than an offshore role.
Having worked with a lot of offshore teams, I recognise what works and what doesn't. To have a chance of making it work you need people onshore to do the management, IMO.

Yes very much agree regarding soft skills. Without soft skills you won't survive long in the corporate world. Certifications like ITIL & Prince 2 are also worth securing if you can.

[Bee]

I've had repeat business from several large companies over the years. These were working in the insurance and utilities sectors.

All of them now use consultancies and have no contractors on their books. Doesn't mean to say it's going to stay that way but for the time being it means that they and others who follow the same model are off limits.

That's a lot of contracts.

The consultancies use contractors though as they don't tend to have the permanent staff with the expertise. However you only want to work with the niche ones.

Why you are saying the opposite? You are generalizing and showing your ignorance regarding this matter.

A Consulting without internal expertise is not a Consultant, and it's not true that they don't tend to have permanent staff. You opinion is based only in your experience without a sense of critic.

Like Big Blue, I also know clients that use the same IT Consulting firms for ages, using permanent staff and occasionally subcontractors to fulfill the lack of resources.

A consultant contractor is not the same as a contractor, they have different skills.

[northernladuk]

Why you are saying the opposite? You are generalizing and showing your ignorance regarding this matter.

Is there anyone on this forum you haven't called ignorant so far?

A consultant contractor is not the same as a contractor, they have different skills.

Now who's generalising? Contractor being a generic term for all of us regardless of what we do so both of them will have the same skills. The ability to run a small company, have an accountant and understand IR35.