State of the London market?

[Graemsay]

How are people finding the London market outside of the banks right now?

I've been on the bench for just over two months, and had an offer come through today. Unfortunately it's about 25% to 30% lower than my previous rate. It's also a six month contract, which means a longer tie-in.

I've got a second stage interview for another role at a similar rate to the above, although when the job was originally discussed it was outside of London, so there might be scope for re-negotiation there.

I'm wondering whether it's worth taking one of these, on the grounds it's work, or turning them down and hope that the market picks up in April.

[cojak]

A bird in the hand...

A real contract in front of you is better than the hope of a better (non-existant) contract in the future.

I'd take it and wait for the upturn.

[MarillionFan]

A bird in the hand...

A real contract in front of you is better than the hope of a better (non-existant) contract in the future.

I'd take it and wait for the upturn.

Open the box! Open the box!

No. Hang on. Hold out for more.

No! Open the box!

The choice is yours.

[Robinho]

Rates are depressed but jobs are there. I was going for a role well (~35%) below my usual rate as i've been on the bench for the same duration. I have a big warchest at the minute and just wanted something to tie me over until the summer so i could have a holiday, it also got me some MVC experience. But somebody undercut me by 10%. I couldn't believe it.

Personally i would take the role if i were in your position. At the end of the day it's 30% less vs 100% less.

[Graemsay]

If nothing is moving then it's worth taking the job.

I've got another interview tomorrow, and I'll see what comes back at the start of next week.

The contract that I've been offered is for six months, which is good, but also means an extended tie-in with limited scope for re-negotiation.

[Scrag Meister]

If nothing is moving then it's worth taking the job.

I've got another interview tomorrow, and I'll see what comes back at the start of next week.

The contract that I've been offered is for six months, which is good, but also means an extended tie-in with limited scope for re-negotiation.

You're only legally tied in for the notice period, from a professional view you may have other ideas.

I'm on 12 monther, but am happy with the security here as was here for 3 years previously after an initial 12 month contract rolled on, twice. And I came direct this time.

Its the people that make it here.

[PropertyCrashUK]

From what I can tell the banks are hiring but there appears to be little else going on. Salaries and rates appear down.

If I was living in London already I would take whatever came along now to bide me over the crunch.

Living outside of London the risk of moving up to London for roles that may not exist is too great. I have talked to other IT people from Wales, NE and SW who feel the same.

The economy appears to be getting worse. At the start of the year I thought it was getting better. It is not.

[Graemsay]

And the trouble is that if you're not in the inner circle already, the banks won't look at you...

I reckon it might be worth giving the agent a push and see if I can get a better deal, be it a higher rate, or a commitment to review things sooner than six months in.

Of course a commitment is probably largely worthless, but...

Edited to add: Thanks to who's posted. It's been useful.

[Clippy]

OP, what's your skillset?

[Waldorf]

A bird in the hand is worth two in the bush - I would take it and review the market later on.