IT Investment banking Contracting from an Insurance background

[roberts]

Hi,
I have been working 12 years in permanent investment banking software and recently decided to leave the current job of 2 years within an investment banking for a contract role for another investment bank. However that fell through due to unable to agree a starting date, so I have another permant role now within an insurance firm as a Technical Architect and since then I have been offerred another contract within the same investment.
My long term goal is to go contracting since not interested in management side. However, my question whether if I was to work within the Insurance industry as a Techincal architect, would it be possible to again get back into investment banking as a contractor?
Btw, also my notice period for the new role would be 3months.
My background in the last 10 years was in making investment banking software and then working 2 years for an investment banking in back and middle office software.
Would be nice to hear what other contractors within investment banking think.

[malvolio]

Contracting is not actually about what you have done, it's about what you can do now. Given a choice between a seasoned contractor with current IB experience and an ex-permie looking to break back into IB, which do you think will be head of the queue?

It can be done, but be aware of the potential difficulties.

[mos]

Contracting is not actually about what you have done, it's about what you can do now. Given a choice between a seasoned contractor with current IB experience and an ex-permie looking to break back into IB, which do you think will be head of the queue?

The cheaper ?

[malvolio]

The cheaper ?

Only if you get as far as the hirng manager.

[nomadd]

Hi,
I have been working 12 years in permanent investment banking software and recently decided to leave the current job of 2 years within an investment banking for a contract role for another investment bank. However that fell through due to unable to agree a starting date...

Huh? If you are losing contracts over something this simple (to sort out), then maybe contracting isn't for you...

BTW, I returned to a nice IB contract after not having worked for an IB for 10 years - so it can be done. Just make sure your technical skills are smack-bang up-to-date.

[roberts]

OK so I guess if I did move to insurance, it would be hard to get back into IB contracting then?

[roberts]

Huh? If you are losing contracts over something this simple (to sort out), then maybe contracting isn't for you...

BTW, I returned to a nice IB contract after not having worked for an IB for 10 years - so it can be done. Just make sure your technical skills are smack-bang up-to-date.

Just to be clear this was because I was already going on holiday after my 4 week notice for 2 weeks and they wanted me to start before that so I was unable to do this even though I mentioned a starting date at the interview.

[malvolio]

OK so I guess if I did move to insurance, it would be hard to get back into IB contracting then?

Depends how good your network is, to be honest.

The problem is the recruitment process. Agencies no longer apply intelligence to candidate selection. they either used largely unskilled juniors or automated word searches to pick the likely candidates. IB is very competetive and there are lots of candidates, if you're not doing the job then you are far less likely to make the original cut. So knowing someone to put you forward is the optimumm solution.

Not just IB, either; any of the key verticals or job titles have the same issues. It's why the standard agency model is slowly on the way out for everything bar the bread and butter roles.

[jmo21]

Just to be clear this was because I was already going on holiday after my 4 week notice for 2 weeks and they wanted me to start before that so I was unable to do this even though I mentioned a starting date at the interview.

If you stick around here, prepare to continually defend yourself against the massive conclusions people jump to.

[Notascooby]

I hardly think 2 years out of IB is going to be held against you. It also depends upon whether or not your doing true IB developement such as Matlab or Charles River etc or just c# in an IB environment.

Don't sweat it and if working in an IB is such a big deal, then go perm in another IB.