Financial Services

[Jagsman]

Hi

I'm hoping to become a first-time contractor in the coming weeks after many years of permanent employment and am looking for PMO roles, mainly in central Scotland. My major difficulty is that so many PMO roles seem to be with banks and other FS organisations, the considerable majority of which require previous FS experience.

I'd be very grateful for advice or clarification as to why this is the case please and perhaps more importantly, are there any agencies which take a more pro-active role in terms of putting candidates forward where they seem entirely suitable through skills and experience other than in relation to the FS requirement.

Thanks.

[SueEllen]

One thing you must understand with contracting is that you must be willing to go almost anywhere in the UK to get a role and maybe into Europe.

This means you will be living away from home during the week or for 2 weeks at a time. You need to factor these extra expenses into your rate.

BTW have you set up your linkedin account? One of the best ways of getting roles is by networking.

[Jagsman]

Thanks for that Sue Ellen. I am prepared to work away from home and expect to do so, if I secure a contract at all! However, my main obstacle still seems to be that so many of the contracts I would apply for (and sometimes have) require FS experience which I dont have. I'll persevere though!

[northernladuk]

I'd be very grateful for advice or clarification as to why this is the case please and perhaps more importantly, are there any agencies which take a more pro-active role in terms of putting candidates forward where they seem entirely suitable through skills and experience other than in relation to the FS requirement.

Thanks.

Agencies will not support you in any way shape of form. Period. If you hope to come contracting and learn on the job, or be a good person so valuable to the role you will fail. You have to be a 'specialist' in your field to get the gig and match it word for word. It is possible to drift between verticals like pharma, finance etc but you become a specialist in the that field and valuable. They will not chose you just because you want a break over a guy that has 10 years PMO'ing in finance. That is the way the market goes I am afraid. Contracting is not for general types or jack of all trades. Agents are only out for themselves. They make a money from putting the right person in the job and don't have time to coach or help. Time is money to them I am afraid.

You have decided to come in to contracting at a pretty awful time to be honest and when SE mentions all over UK it is highly likely this will be london. Are you really willing to spend the next 6 to 12 months commuting to and from London? Everyone says they will but the reality is very different.

[SueEllen]

You have decided to come in to contracting at a pretty awful time to be honest and when SE mentions all over UK it is highly likely this will be london. Are you really willing to spend the next 6 to 12 months commuting to and from London? Everyone says they will but the reality is very different.

If s/he has no FS experience then it probably won't be in Central London. It's likely to be in places that are more awkward to get to which means not only staying over but with the added hassle getting to the places.

[BolshieBastard]

Tend to agree with NLUK here.

A few years ago, clients would take you on and let you learn some aspects of a role on the job(!) in return for a lower daily rate but now, the job spec is a wishlist as long as your arm (again) and you must have every one of the spec requirements else you wont get past the agency drone.

Noticed recently ISTQB \ ISEB being quoted as a requirement which thankfully, I have!

[MyUserName]

The way it works is that a client has a specific skill gap and needs it filling. They will have an exact niche (eg c++, back office knowledge, SQL server and c# - 10 years in each) and if you do not meet their ideal list they will not bother with you.

If you are a contractor no one cares about you, no one looks out for you and pretty much everyone will rip you off if you let them.

[MyUserName]

There's a bloody echo in here

[northernladuk]

That advice was so good he told you twice!!

[James10]

The advice given is sound (and with my first post I could hardly disagree even though I am a finance PMO in London) BUT it could depend on what the OP's current specialism is.

If the OP has PMO experience but not in finance, this isn't so bad as depending on the project the finance experience might not be necessary, it's the programme management skillset that's important. I have considered taking utilities PMO opportunities for example. But there would still be competition with PMOs who *do* have finance experience so it really depends on the attitude of the agent and client.

If the OP has finance experience, but no project management experience, that might be harder IMHO - a route in might be a dogsbody-ish temp on the programme doing data entry or something. If s/he is intelligent enough, it'll soon become apparent that they can be used elsewhere.

If the OP doesn't have finance experience or PMO experience, then agree it will be very very difficult.