Switch to perm or ride the dying wave

[ChimpMaster]

I've only been in it 2 years and made a tidy sum. It wasn't great. The work was uninspiring and dull but it it's difficult to make that sort of money for 8 hours work elsewhere.

Really? I didn't think IBs and the City in general paid as much as they did years ago. I left it some years ago too and have been far more successful in other sectors.

[heyya99]

Really? I didn't think IBs and the City in general paid as much as they did years ago. I left it some years ago too and have been far more successful in other sectors.

There is definitely less of a gap but I am yet to see any non-finance roles at my last rate (600 for a regular dev).

[rocktronAMP]

My contract has ended and I'm assessing my next options. I have 2 interviews; one for a contract in commodities trading and another permanent position in algorithmic trading development for an IB.

The pros of the perm position is that I can learn algorithmic trading development for 6 months/ 1 year, and then return to contracting and command the 650+ rates. My fear is that by the time I've gained the algo skills, contracting as we know it could be dead.

The downside is that, with the way contracting going of late, I am reluctant to stop riding the wave (last gig was 600pd) and am thinking that maybe I should milk it before the government has us all under IR35.

Financially, I am in an ok position as I have 200k warchest built up.

What would you folk do?

You are a lucky devil. You should see the world from the other side. I wish I could get a development gig in central London paying £500 per day or over.

[mdhd]

Just wondering; how the tone and suggestions in replies change when day rate and warchest (of substantial amount) are mentioned

[MrMarkyMark]

Just wondering; how the tone and suggestions in replies change when day rate and warchest (of substantial amount) are mentioned

Errrrrrrrm, didn't really see that, £600 PD is not that great in IB, in any case.

Some people on here may be on a greater day rate and / or have a bigger war chest, its just they don't go off on one about it .

Anyway, its all a moot point as the OP has not actually been offered either of the two roles.

[heyya99]

Anyway, its all a moot point as the OP has not actually been offered either of the two roles.

I ask in advance of the interviews because interest in a role determines my ability to perform well in the interview. I've been to many interviews where in the back of my mind I know I'm not pushed on the role and I think it comes across. If I really want a role I automatically pull out all the stops to get it. And right now, I really an undecided on either and both.

[northernladuk]

I ask in advance of the interviews because interest in a role determines my ability to perform well in the interview. I've been to many interviews where in the back of my mind I know I'm not pushed on the role and I think it comes across. If I really want a role I automatically pull out all the stops to get it. And right now, I really an undecided on either and both.

So you've got even more incentive to nail both interviews so you can be in a position to make a choice then.

[ChimpMaster]

You are a lucky devil. You should see the world from the other side. I wish I could get a development gig in central London paying £500 per day or over.

Please elaborate. It'll be interesting to see the comparison.

[ChimpMaster]

<snip>
The downside is that, with the way contracting going of late, I am reluctant to stop riding the wave (last gig was 600pd) and am thinking that maybe I should milk it before the government has us all under IR35.

Financially, I am in an ok position as I have 200k warchest built up.

What would you folk do?

Thing is, you never know how long a dying wave will take to die. My tech specialism has been in a dying wave for the best part of the past 10 years and somehow fortunately I have managed to contract through that. I've always known and accepted that I was riding this wave all the way to the shore, and I decided that it formed part of my life plan. I have a few months' work left, and no idea what I will do after this, but for a number of reasons I don't give a damn.

Point is, the death throes you're predicting may very well last many years, allowing you to work yourself into a position of freedom faster than you might by jumping ship.

Choppy waters, chaos - good news.

[LondonManc]

Thing is, you never know how long a dying wave will take to die. My tech specialism has been in a dying wave for the best part of the past 10 years and somehow fortunately I have managed to contract through that. I've always known and accepted that I was riding this wave all the way to the shore, and I decided that it formed part of my life plan. I have a few months' work left, and no idea what I will do after this, but for a number of reasons I don't give a damn.

Point is, the death throes you're predicting may very well last many years, allowing you to work yourself into a position of freedom faster than you might by jumping ship.

Choppy waters, chaos - good news.

Very true. I dodged a bullet years ago when I missed out on a job as a Lotus Notes developer and stuck with BI/data warehousing.