Any one feeling the pinch ?

[mace]

Not sure

I should have mentioned that I'm trying to go permie as I don't want to move away from London and my skillset is relatively niche. 1 of the IBs roles is a contract, however.

I suspect that the IBs are trying to find another candidate, but given the niche I'm in, I'd be surprised if they could find somebody for months with the same level of experience that they seem to want. The fact that I first applied for the permie job with 1 of them back in July and they're still advertising every day seems a good indication of this. The IB that I'm trying to get a permie role with apparantly has multiple roles on offer (which makes it all the more surprising as to how they expect to fill these roles). I've spoken to multiple agents about the roles on offer, so know they're not ghost roles.

Even accepting that the IB may be discounting me, that would indicate that they're discounting all other candidates too.

There are 2 things against me:-

1. I'm coming up 40
2. I've only worked for a couple of weeks (doing consultancy work) at an investment bank before. I've worked for 4 of the main software vendors, a couple of consultancies (multiple financial services clients) and the rest have been blue chip clients. Never figured why I've failed to crack the IBs when the rest of my client portfolio is impressive.

On the positive side, I have a confirmed interview with the retail bank set up now.

[ContractIn]

You're all getting me worried now. I guess a lot will depend on your skillsets and demand as well. I originally went contracting from a permy position as the market moved so much quicker and there were more roles than permy ones..Thats was almost 3 years ago, and have had continuous work since then

I'm currently spending a small fortune on renovating my gaff, and current gig ends in December, I realistically can't afford to be on the bench for more than 2 months..when do I start the ball rolling for next gig?

[ChimpMaster]

You're all getting me worried now. I guess a lot will depend on your skillsets and demand as well. I originally went contracting from a permy position as the market moved so much quicker and there were more roles than permy ones..Thats was almost 3 years ago, and have had continuous work since then

I'm currently spending a small fortune on renovating my gaff, and current gig ends in December, I realistically can't afford to be on the bench for more than 2 months..when do I start the ball rolling for next gig?

3 years contracting and only 2 months worth of expenses saved up? How did you get into that precarious position?

In a contract you should have been earning around 2x your permie salary, so really you should have stuck to your original expenditure and saved up 36 months worth of expenses funding. I know that's an ideal world but 2 months savings is very low.

[ContractIn]

3 years contracting and only 2 months worth of expenses saved up? How did you get into that precarious position?

In a contract you should have been earning around 2x your permie salary, so really you should have stuck to your original expenditure and saved up 36 months worth of expenses funding. I know that's an ideal world but 2 months savings is very low.

Yep, I know...earlier this year I could have took 18 months off if wanted to, but decided to pay off a chunk of the mortgage and embarked on completely refurbing the gaff, no going back now!! My original thoughts were that the markets were good and that I should not be out of work for more than 2 months..that was 4 months ago! Different opinion today!!

[mcgeeky]

...
I've been looking since mid-August now. My CV is apparantly with 6 clients, the longest of which I sent my CV to in July.

2 of the clients are investment banks (whom I'm told are always slow and are slower because of the turmoil in the market), 2 with insurance companies, 1 with a retail bank and 1 with an entertainment company. I live in London.

I've been told that I've been short listed for interview for the 2 investment bank jobs but have heard nothing since (over a week in both cases, just keep on being told that they've still not heard when the interview will take place).

People are going to have different experiences, I imagine. I'm not flexible on location and my rate is in the upper quartile. That said, 6 clients having my CV is a lot better than how it was back in 03/04, the process is however much slower than I've ever experienced.

This is very similar to my experience to date.

[tester_uk]

Profit Warnings !!!

2 of the clients are investment banks (whom I'm told are always slow and are slower because of the turmoil in the market),

Not to discourage you.. but the grim fact is that... UBS predicted 3rd quarter losses and job cuts incuding its CEO and CFO.

http://marketplace.publicradio.org/d...rt_by_subprime

With big shots leaving , where is the oppurtunity for a short term employees like contractors...

i believe same is the situation in other IBs...

[Devlin]

My contract with an IB just got pulled even though I'd already signed a contract! I had declined a renewal to take it too.

[Churchill]

There are 2 things against me:-

1. I'm coming up 40
2. I've only worked for a couple of weeks (doing consultancy work) at an investment bank before. I've worked for 4 of the main software vendors, a couple of consultancies (multiple financial services clients) and the rest have been blue chip clients. Never figured why I've failed to crack the IBs when the rest of my client portfolio is impressive.

On the positive side, I have a confirmed interview with the retail bank set up now.

What the hell has that got to do with anything?

The only thing against you is your attitude. You may as well do this

[backlight]

My contract with an IB just got pulled even though I'd already signed a contract! I had declined a renewal to take it too.

If you don't mind - what type of work do you do? Any reason provided by the IB?

[castoff101]

I am 50 and until recently spent a year in the City of London working for a large insurance company.

I think it's all about attitude and a willingness to learn.