What's wrong with the market ?

[BlasterBates]

Change the record doom monger, the market is hot. Back to your permie desk!

Barclays has rolled out another 10% rate cut for all contractors in the UK and U.S. - eFinancialCareers

http://news.efinancialcareers.com/uk...es-10-pay-cut/

http://www.bloomberg.com/news/2014-0...ment-bank.html

http://www.ft.com/intl/cms/s/0/af9ed...c0.html#slide0

If I were you I'd build up your war chest because it doesn't look good.

[Dallas]

Meh, I was offered a 20% increase today at Lloyd's on a basic risk project, I guess you are on the wrong area. I know dozens of exceptions to the rate cuts they just don't talk because they don't have to. Keep putting folks of, more for me ya miserable sockie!

[BlasterBates]

Hey look at me I've got a big willy

Good for you...

[Dallas]

Look at your last 50 posts: no contractor market woe woe, look at me I am a permie......

(If I had a willy .... )

[BlasterBates]

Good, to get back to the OP.

Sure there are contracts out there and you should be trying to get contracts, but it is a lot tougher out there than it was a few years ago with plenty of permies/contractors who were made redundant, so there is more competition, and if you're not getting anywhere just need to widen the net, and not assume that you personally have a problem.

Actually it was interesting there was an Engineering contractor bragging about his rate a few weeks ago followed closely by an announcement by major companies in oil and gas cutting their rates by 10%.

[Dallas]

Keep telling yourself that ...

[NickNick]

I know it seems like Jack of all trades but this is quite common in IB roles where you can be required to wear man hats.

I would love a role where I get to wear a man hat.

[tarbera]

wow

I was made redundant 7 weeks ago.

I have over 16 years experience half of which is in Banking.

I've been a Dev manager for the last couple of years for a major Investment Bank which basically means you do
team leading, PM and stakeholder management and architecture and hands on where required and even some BA.

I'm a .net c# developer but have been hands off now for a few years (though I've been reading up and getting skilled up so I can apply for more hands on roles.)

I know it seems like Jack of all trades but this is quite common in IB roles where you can be required to wear man hats.

May be there's no Dev management roles out there or maybe i'm jack of all trades or is the market really that bad.

I've not had a single interview I apply for what appears relevant jobs. Then if appropriate I chase the agent and eventually persuade them to put me forward (this is for 1 in 10 roles for which I apply online) but nothing back.

Also I chase the agents

am I doing something wrong or is it just the market ? I can do with contract or perm.

BTW I'm London based.

have you not noticed everyone being replaced where you work (inculding you) with outsourced workers ? you will be lucky

[doodab]

Change the record doom monger, the market is hot. Back to your permie desk!

From what I gather IB is quite a fragmented market with a lot of niches though, so if you are stuck in one then it might be a problem. At my mates place for example complex derivatives pricing stuff he was working on is getting scaled back (his team is about 20% of what it was) but they are spending a lot on real time risk management for simpler products. It's easy for him to go from the complex stuff to the simple stuff but it would be harder for someone to go the other way (according to him) as even though the maths is largely hidden you're still expected to understand it.

[evilagent]

If the OP has worn many hats, then the CV may look all over the place, unless the client is looking for a jack of all trades.

For each specific role, the CV should have the unrequired experience muted (reduced to just a line maybe), and the role-specific skills expanded upon.

If you're looking to go contracting, it may be useful to split your time at your permie-place into specific projects. That is, rather than CV saying you were at clientco for X years, split them into project A, B C, etc.
Try to re-state the CV into end-result focussed units, since you are looking to be taken on to do a specific role, and you need to highlight the number of times you have delivered projects.

Make sure the agent is left in no doubt that you have the relevant experience, by ensuring you have written an example of experience for every skill in the advertised job-role.

Good luck with it. Hope it works out.

PS: re: "whats wrong with the market?"; dunno, seems like same-old, same-old.