My anecdotal exp - contract hunting in Sep2025 - generalist PM, Insurance sector

[sreed]

My experience of looking for a new remote/London-hybrid (no more than 2 days in office) contract in September/October 2025. I was last in the market in autumn 2023.
My background is that of a generalist (not full IT) PM, now specialising in the insurance sector, thanks to my most recent contract!

My anecdotal observations -
- I primarily looked at LinkedIn and Reed
- plenty of roles being advertised: permie, FTC and contracts. God only knows how many of these are real!
- very very generally speaking, permie salaries last time around were around 70-80k+ and this time around were 80-90k+ for similar roles.
- lots of FTCs, same pay (or worse!) as perm so no real upside to it being temporary
- in general, day rates similar to what they were 2 years ago, varying wildly from 500-800pd with no discernable difference in the role
- more outside contracts than the last time round
- Lots of linkedin messages from Ind_ian scammers/recruiters who knew nothing about the role but were keen to sign me up for half the going rate! 🤣
- a lot more filtering based on industry than last time, I was struggling to get any response from non-Insurance clients. I suppose that's understandable if there are a lot more people to choose from.
- a lot fewer remote contracts on offer, a lot fewer 2 day/week hybrid contracts

Outcome - I got a contract, 6m inside at a rate that is 200pd higher than my previous contract and 100pd higher than my previous highest ever day rate, so quite happy with the outcome. Mostly remote, with the odd drop in to their City office.

This was through a recruiter that I'd applied to (for another role) on Reed.

All the best to those looking for new contracts.

[ladymuck]

Congrats on scoring a new gig

[Dorkeaux]

My experience of looking for a new remote/London-hybrid (no more than 2 days in office) contract in September/October 2025. I was last in the market in autumn 2023.
My background is that of a generalist (not full IT) PM, now specialising in the insurance sector, thanks to my most recent contract!

My anecdotal observations -
- I primarily looked at LinkedIn and Reed
- plenty of roles being advertised: permie, FTC and contracts. God only knows how many of these are real!
- very very generally speaking, permie salaries last time around were around 70-80k+ and this time around were 80-90k+ for similar roles.
- lots of FTCs, same pay (or worse!) as perm so no real upside to it being temporary
- in general, day rates similar to what they were 2 years ago, varying wildly from 500-800pd with no discernable difference in the role
- more outside contracts than the last time round
- Lots of linkedin messages from Ind_ian scammers/recruiters who knew nothing about the role but were keen to sign me up for half the going rate! 🤣
- a lot more filtering based on industry than last time, I was struggling to get any response from non-Insurance clients. I suppose that's understandable if there are a lot more people to choose from.
- a lot fewer remote contracts on offer, a lot fewer 2 day/week hybrid contracts

Outcome - I got a contract, 6m inside at a rate that is 200pd higher than my previous contract and 100pd higher than my previous highest ever day rate, so quite happy with the outcome. Mostly remote, with the odd drop in to their City office.

This was through a recruiter that I'd applied to (for another role) on Reed.

All the best to those looking for new contracts.

Indeed, have another banana:

Yes, the people working out of their bedroom in India having no relationship with the client nor knowledge of the role offering half-rates are definitely clogging up the pipes.

Reminds me of kids setting up a lemonade stand in their front drive charging 100 Squid a cup. "I only have to sell one!".

Also, the insurance industry (particularly the London insurance market) is and has always had a healthy contractor market. Mostly outside IR35 still, but that's changing.

[willendure]

I got a contract, 6m inside...

I somehow read that as £6million!! Congrats anyway.

[ladymuck]

I somehow read that as £6million!! Congrats anyway.

It's 6m inside, at one of His Majesty's finest establishments

[jamesbrown]

It's 6m inside, at one of His Majesty's finest establishments

The remuneration is two rolls of 3M duct tape, making 6M in total.

[fiisch]

Congrats on the new gig!!

In my experience in this sector as a BA (20 years, 9 as a contractor but with a 2 year break in the middle as a permie) is that there's a continuous demand for good contract resource with experience. It is a sector with high barriers to entry, but once you have the experience you're sorted:

• Despite market becoming softer (i.e.: insurers are not able to charge as strong a premiums due to increase competition/market conditions), there's a constant flow of vacancies.
• Majority of the market still seem to offer outside IR35 roles. Inside roles offer a bit (£100-£150/day) of a premium, but not attractive by comparison.
• FTC salaries are laughable - I can only assume these attract the dross as they're generally on a par with permanent salaries.
• Vast majority of brokers/carriers now advise on 3 days in the office per week at interview stage. Reality is different in my experience, once you've proven your stripes 1-2 days seems fine with no complaints, providing you attend as/when required.
• Rates haven't moved much (although to be fair I'm now charging £750 per day vs £500 per day in 2020, but I don't expect to get same rate on next contract - £650 seems to be about going rate for a BA).
• Underwriting-focused projects are more prevalent than claims/IT-focussed.
• Many projects are extremely complex from a business process/adoption perspective, but not in terms of technology.
• I have only ever worked in insurance, but have found the same filtering - I've never even managed an interview in any other sector.
• There's a bit of a monopoly in terms of agents in this sector - 3 or 4 good ones who seem to consistently have the majority of roles; one or two have a consultancy model so you don't contract with end client directly as a shield against IR35 regs for end client....

[sreed]

Thanks fiisch that's really helpful, coming from a sector specialist with your experience. I didn't make a conscious decision to specialise in Insurance but can't complain so far!

I almost considered a perm role with an up and coming Insuretech firm but quickly came to my senses when the top dog said that he saw 'leadership potential' in me 😂

3 day hybrid - what you say chimes with what recruiters mentioned and what I've seen previously but this time around I just didn't want to start off with an expectation that I could not meet. Did eliminate quite a few roles though.

[Dorkeaux]

Thanks fiisch that's really helpful, coming from a sector specialist with your experience. I didn't make a conscious decision to specialise in Insurance but can't complain so far!

I almost considered a perm role with an up and coming Insuretech firm but quickly came to my senses when the top dog said that he saw 'leadership potential' in me 😂

3 day hybrid - what you say chimes with what recruiters mentioned and what I've seen previously but this time around I just didn't want to start off with an expectation that I could not meet. Did eliminate quite a few roles though.

All of my clients but one since before Covid specified in-office attendance of 2-3 days a week.
I wouldn't take it too seriously, none of them meant it.
I guess a little Dorkeaux goes a long way..