City job/contract market

[BlasterBates]

City job market

Any experience how is it out there ?

[BrilloPad]

City job market

Any experience how is it out there ?

I just renewed for a year at clientco - now up until 14th oct 2009.

I know a permie who was at Lehmans - lots of permie jobs out there......

[eliquant]

It aint good out there and after 1 week if I don't get a look in, then I'm focusing on plan B and putting the finance jobs on the back burner, which is a shame as I have years of relevant experience.

Ah well it was ok whilst it lasted I suppose.

One thing is that there is no point in being permie in IT, they all drop you at a moments notice and then you get the stigma of having been made redundant. Also moving from one finance permie IT job to another is extremely risky .. no employee rights effectively for a year and small marginal wage increased in the next role... forget it it aint worth it not for the long hours, difficult people etc.

[ace00]

It would seem the city is finished, say goodbye to 20% of GDP.
But it will make a good Olympic village for 2012.

[swamp]

All those offices could become buy-to-let flats.

Boomed

[SandyDown]

suppose all them unemployed finance contractors will be moving to europan banks now !!

[Bumfluff]

Just renewed to end of April 2009, no rate cuts at all actually 15% above market rate to be honest, but been asked to go permy after April. Exposure Management is where its happening

[AlfredJPruffock]

It aint good out there and after 1 week if I don't get a look in, then I'm focusing on plan B and putting the finance jobs on the back burner, which is a shame as I have years of relevant experience.

Ah well it was ok whilst it lasted I suppose.

One thing is that there is no point in being permie in IT, they all drop you at a moments notice and then you get the stigma of having been made redundant. Also moving from one finance permie IT job to another is extremely risky .. no employee rights effectively for a year and small marginal wage increased in the next role... forget it it aint worth it not for the long hours, difficult people etc.

Aye EQ

Interesting comments - perhaps, if nothing comes up jobwise - it could be a blessing in disguise for you if you now focus on your plan B.

I gain the impression that you're not really enjoying the culture of IT in the city - does anybody ?

I am fortunate enough to work in the more sedate yet interesting world of research and development which is thankfully the opposite to what you describe- eg 35 hour week , wokring from home, genuine friendly people.


Whatever you do - good luck.

[Stan.goodvibes]

Aye EQ
I gain the impression that you're not really enjoying the culture of IT in the city - does anybody ?

I spent 4 years at a Fund Management company in the City in the late 90's (on a 3 month contract LOL). Loved every day of it (well, mostly). It was the best place I have ever worked - the job was great, the pay was great, the people were great. Only left to come back to NZ.

Was that just luck or have things changed a bit since then?

[Stan.goodvibes]

It would seem the city is finished, say goodbye to 20% of GDP.
But it will make a good Olympic village for 2012.

A bit pre-emptive there IMHO. The City was there long before the Investment banks turned banking into an Investor-Funded Casino, I'm sure it will survive through this period of 'restructuring'. People still need banks, banks still need banks, and I'm sure human greed will triumph again and usher in another great financial playtime ;-)

Lets not forget that the ability to get cheap credit has driven a huge surge in productivity, I saw a report last week that stated we are all about twice as well of as we were in the 80s. Capitalism feeds off cheap credit, the banking system needs to work out how to keep money moving cheaply *without* gambling it all on speculative investments.

The City will rise again phoenix-like from the ashes of the credit-crunch.