c++ programmer. Should I take the plunge?

[thunderlizard]

background in stochastic modelling, though not in finance.

That should convert pretty easily. You've done the hard bit, you just need to learn a bit about financial products and get the terminology down pat.

One lad I know got into it from a PhD in fluid mechanics. He just explained to his first employer that the maths of money flowing around a market was basically the same as the maths of liquid flowing around a pipe system. Now he charges closer to £300 an hour, never mind a day.

[max]

May I ask your reasons for this view?

Perhaps because of the credit crunch. But surely the credit crunch increases uncertainty, so increasing the demand for contractors.

When it gets ugly...contractors will feel the brunt of it. 2 years on the bench will force many back to permidom.

There was a story around last week that ubs and ml canned all their contractors...that would be many thousands. I've not had confirmation of this..but it wouldn't surprise me.

During the 2001-03 downturn 6 monthly rate cuts were for the lucky ones.

[hugebrain]

Hiya,

I like to think of myself as an experienced programmer, with up to 10 years of experience doing various projects (in academia - I have a PhD). C++, STL, MFC, XML, and Matlab are my core skills. Used OO design, some UML and GOF design patterns in past projects.

I live in London, I'm looking for a new job and see C++ contracts being posted at incredible rates. Does anyone know the competition for those contracts? Are C++ skills in short demand or in over supply? Will my "in academia" experience be void or be taken at face value by agencies? Should I take the plunge in the New Year?

Many thanks in advance,

Kris

Sounds like you are doomed to suffer in a bank. Quant jobs don't pay any more as contract than permie, so you could just do a normal job. If you want to go contracting, the easiest way is just go in at a low (£400?) rate to get a first contract, then raise (or lower? - credit crunch) it to whatever the market rate is after six months.

[KentPhilip]

When it gets ugly...contractors will feel the brunt of it. 2 years on the bench will force many back to permidom.

There was a story around last week that ubs and ml canned all their contractors...that would be many thousands. I've not had confirmation of this..but it wouldn't surprise me.

During the 2001-03 downturn 6 monthly rate cuts were for the lucky ones.

And companies might be reluctant to hire you as a permie having been a contractor as they would be concerned that the moment the market turns up again you'll be off contracting again.

So maybe now might be a good time to go permie again, to reduce the risk of long term unemployment

Happy Christmas all.

[BrilloPad]

And companies might be reluctant to hire you as a permie having been a contractor as they would be concerned that the moment the market turns up again you'll be off contracting again.

So maybe now might be a good time to go permie again, to reduce the risk of long term unemployment

I agree strongly. I am applying for permie jobs.

[BlasterBates]

Thanks for the replies. 300 a day indeed doesn't look bad to my grant-supported eyes , but the ones I'm seeing advertised are 500+, which makes me .

I've been thinking about going quant, as I have some background in stochastic modelling, though not in finance. Not sure how that will sell...

Kris

PhD in stochastic modelling congrats.

Look forward to a lucrative career in quant programming. The fact that you have no experience in finance doesn't matter. However we are in 1929 style banking crisis, so your career start might be a bit slow.

[BobShawadiwadi]

Most are not good at either.

I know I've had to work with them or sort out the s*** code they have left behind.

The few that are good understand British comedies and find them funny.

We do coding in Java and in C++ very good.

All us software engineers are now training in S * * * language to solve problem with you legacy.

We do many laughing at England jokey TV. Your Benny Hill Billy much funny.