Banks cutting contractor rate again

[Butcheroo]

Banks cutting contractor rate again

BoE are one of the worst payers in the City - for permie and contract roles. For example, when I was consulting at another bank at > £600, BoE were offering out a similar role for just £400 - £450. Same role but permie was £45k... for working in the City I think not, thanks but no thanks.

They are paying up to £850 for some roles now

Must depend on project

[northernladuk]

They are paying up to £850 for some roles now

Must depend on project

Maybe it depends on your position within the project and the location of the contract instead?

[dmo]

I expect there to be many more 10% cuts at other banks this year, in Dec, if not 2013 in March. It's becoming more standard and quite disrespectful / frustrating.

[backlight]

I expect there to be many more 10% cuts at other banks this year, in Dec, if not 2013 in March. It's becoming more standard and quite disrespectful / frustrating.

Welcome to full fledged globalisation, IT is no longer the place to be.... But then again what really is..

[MyUserName]

Welcome to full fledged globalisation, IT is no longer the place to be.... But then again what really is..

Rate cut coordinator?

[backlight]

Rate cut coordinator?

Nope - concerned contractor..

[centurian]

Rate cut coordinator?

Who is probably a permie - and probably gets a fat bonus for all the money they have "saved".

[stevejohnson]

they just print .. type in .. as much as they need

[sbakoola]

Its always best to glide into these places just after a general rate cut has been introduced and fight to get as much as possible at the outset so when the inevitable rate cut hits you once you're in, it won't be as bad.

[d000hg]

Who is probably a permie - and probably gets a fat bonus for all the money they have "saved".

They'd save much more if they stopped hiring developers at £500/day and just employed people. Keeping a large permanent pool of contractors seems to defy the point of using contractors in the first place.