War chests

[ChimpMaster]

You need to face facts. Living on a permie based wage is especially applicable to PM type roles, less so for skilled CM's.

Due to off-shoring of junior CM roles, many senior CM's left in the UK earn more than the PM's managing them. PM's are plugin replaceable @200/day. A niche skilled client facing CM is not. Not only to PM's and BA's need to cut their cloth, they need to get used to the techies they work with earning way more than them.

Well said Turion, one of the posts I certainly find myself in agreement with. Where I am the head of IT has even talking along similar lines - I'm a technical specialist (not a coder, but nowhere near a BA) and he admitted that he couldn't cut my rate last year because of the niche technical skillset. He admitted that BAs/PMs were 2-a-penny in the market - in fact many have had rate cuts or gone permie.

[ChimpMaster]

As for HeadofTesting's £310k, it's not hard to imagine that if he has been on a decent rate of say £450/day, that's over 100k a year gross and approx 72k if 70% is profit after expenses/taxes.

Even if he spends 3k a month he can build up a great warchest in the 8 years since 2001 (I presume he was working most of the time).

[nomadd]

We are still in stealth mode so mum is the word.

Don't even have a website up. By choice.

So, you're sending your mother back out on to the streets? And doing a sideline in having her on an adult website? Shame on you!

Still, don't forget to post a linky once the site is up. I'm always up for a bit of MILF.

Nomadd

[pzz76077]

Well said Turion, one of the posts I certainly find myself in agreement with. Where I am the head of IT has even talking along similar lines - I'm a technical specialist (not a coder, but nowhere near a BA) and he admitted that he couldn't cut my rate last year because of the niche technical skillset. He admitted that BAs/PMs were 2-a-penny in the market - in fact many have had rate cuts or gone permie.

These guys dont get it, they rage up when someone sais that they are not in demand. The fact is most IT skills are now as much a commodity as Cornflakes. There are thousands of benched PMs BA's Oracle etc out there that no one wants.

Time to face reality Im afraid.

The golden days of contracting are gone for good.

PZZ

[nomadd]

These guys dont get it, they rage up when someone sais that they are not in demand. The fact is most IT skills are now as much a commodity as Cornflakes. There are thousands of benched PMs BA's Oracle etc out there that no one wants.

Time to face reality Im afraid.

The golden days of contracting are gone for good.

PZZ

Unless you are in the right place with the right skills. Flick through Jobserve each day as I do looking at "Java" roles. If you have recent Investment Banking skills (FX or Risk or Market Feeds) and solid up-to-date java toolset skills, there are still plenty of jobs around in the £500-£900 / day bracket. And that's also true for PM roles with some (limited) technical skills but very good Investment Banking skills.

Nomadd

[HeadOfTesting]

As for HeadofTesting's £310k, it's not hard to imagine that if he has been on a decent rate of say £450/day, that's over 100k a year gross and approx 72k if 70% is profit after expenses/taxes.

Even if he spends 3k a month he can build up a great warchest in the 8 years since 2001 (I presume he was working most of the time).

went in to a permie role in summer 2002 virtually broke and stayed there for 5 yrs. had over £100k saved when i left but can't remember exacatly how much. then took 3 months off and went contracting (having previously contracted between graduation in 1998 and 2001 but lost it all on bench time and tech shares). I then did 16 months with my last client - some at £550pd then some at £650pd. My outgoings have stayed steady at about 1300pcm.

it does all add up - but with better decisions/discipline it could have been a lot more - but as i said I'm looking forward

[oracleslave]

My outgoings have stayed steady at about 1300pcm.

That doesn't even cover my mortgage

[chris79]

That doesn't even cover my mortgage

Assuming you are on a *1% variable rate now and have a £1500 mortgage, I'm guessing that means you live in a ~£2million mansion?

Hope the BoE keeps base rates low for your sake!



*if you hadn't already guessed this is just a sarcastic joke.

[oracleslave]

Assuming you are on a *1% variable rate now and have a £1500 mortgage, I'm guessing that means you live in a ~£2million mansion?

Hope the BoE keeps base rates low for your sake!



*if you hadn't already guessed this is just a sarcastic joke.

Excellent joke chris, I really enjoyed it. To think I might have missed it without the handy hint as well. Ta muchly

[nomadd]

I'm guessing that means you live in a ~£2million mansion?

Don't all contractors live in a multi-million pound mansion?

I claim I do...when I'm talking to permies.

Nomadd