Will the contract market recover? If so when?

[oliverson]

The general feel is it's been down hill for over a decade now. As more perms jump ship and contracting becomes the standard way to get tech done it's just been a mess. I really don't know what a 'Contractor Market' is as such. Surely depends what you do, your skills, what industry you work in. Just too broad a brush to use for a useful discussion. You only need one gig to last a year or two and it's irrelevant what the 'market' does.
...

Absolutely. So long as I'm alright Jack! Lol.

I honestly don't think the market will EVER recover. IR35 has killed the market, certainly in London finance. Even if it were binned now, the damage is done. What we have is seasoned old contractors like myself, used to decent rates outside IR35, being replaced by younger contractors who've only ever known Inside roles. To them, coming from a permie role, it's still a decent rise in income. They may still be living at home with mum and/or dad. No mortgage, no kids, etc. They don't have the need to earn the biggest rates.

[krytonsheep]

I honestly don't think the market will EVER recover. IR35 has killed the market, certainly in London finance..

Even before the changes I felt it was becoming oversaturated. The more permies who took up contracting, the more companies had to rely on contractors to fill the holes. That in turn reduced the skill level/experience required from a contractor, so any barriers for entry got removed.

[northernladuk]

Even before the changes I felt it was becoming oversaturated. The more permies who took up contracting, the more companies had to rely on contractors to fill the holes. That in turn reduced the skill level/experience required from a contractor, so any barriers for entry got removed.

Totally this.

[DrewG]

Absolutely. So long as I'm alright Jack! Lol.

I honestly don't think the market will EVER recover. IR35 has killed the market, certainly in London finance. Even if it were binned now, the damage is done. What we have is seasoned old contractors like myself, used to decent rates outside IR35, being replaced by younger contractors who've only ever known Inside roles. To them, coming from a permie role, it's still a decent rise in income. They may still be living at home with mum and/or dad. No mortgage, no kids, etc. They don't have the need to earn the biggest rates.

Who are all these kids contracting? New grads (and similar) should not be your competition for roles.

[SussexSeagull]

The question is how much our current woes are caused by the general economic woes and how much by the contracting industry being in decline.

[PCTNN]

Absolutely. So long as I'm alright Jack! Lol.

I honestly don't think the market will EVER recover. IR35 has killed the market, certainly in London finance. Even if it were binned now, the damage is done. What we have is seasoned old contractors like myself, used to decent rates outside IR35, being replaced by younger contractors who've only ever known Inside roles. To them, coming from a permie role, it's still a decent rise in income. They may still be living at home with mum and/or dad. No mortgage, no kids, etc. They don't have the need to earn the biggest rates.

Do YOU have the need to earn the biggest rates? Why? If you are a seasoned contractor with years and years of good rates shouldn't you be mortgage/debt free and all sorted?

All contractors who had years and years of high rates and yet are struggling now to pay mortgages, they're a bunch of failures

[oliverson]

Do YOU have the need to earn the biggest rates? Why? If you are a seasoned contractor with years and years of good rates shouldn't you be mortgage/debt free and all sorted?

All contractors who had years and years of high rates and yet are struggling now to pay mortgages, they're a bunch of failures

Yeah, I'm a real failure with a detached house, a penthouse in Andalucia and driving a Tesla.

No, the failures are the ones living a 'deferred life' programme, earning decent contract rates but living like a permie, saving up for the day they can eventually retire. Only problem is, some of them might not even make retirement.

Why on earth would anybody be happy to come down on rate, even if everything is paid off? Years more experience sold for less money!

[rocktronAMP]

From memory the contractor market in 2022 was supposed to be the worst to date wasn't it? Were we hoping to get back to the what the market was like in 2020 at that point?

Answer to your question? Who knows, end of the war, some countries swapping ruling parties, end of a global pandemic? Possibly maybe. Maybe it never will?

When the government / lawmakers in charge repeal Off Payroll Worker rules.
I don't think that happen.

Alt. Future.

Scotlands gains independence completely. HMRC rules will not apply in Scotland after 1/Jan/202X. Hopefully Scotland goes back to 2019 tax legislation rules without IR35/OffPay Worker Rules. Move to Scotland before that date.

[wattaj]

Scotlands [sic] gains independence completely.

Ha-ha-ha-ho-he... cough... he-ho... splutter... Christ! Ha, good one. I needed a laugh today.

[eek]

Ha-ha-ha-ho-he... cough... he-ho... splutter... Christ! Ha, good one. I needed a laugh today.

+1 - Scotland with a budget of £9.7bn is aiming to spend £11bn next year on a budget of £10bn. Don't believe me look at https://spice-spotlight.scot/2023/05...s-pushed-back/

By next April there are going to be a lot of tax rises or spending cuts.

And the idea of IR35 being binned in SNP Scotland completely for the birds.