Reply to: State of the Market

[ResistanceFighter]

Finished previous contract tail end of last year, It's been quiet but just about got the next out the door with a look to start late this week / early next

[TheDude]

I have had three calls today for new roles that have opened up at the banks.

[The Green View]

Whats your skillset if you don't mind me asking ?

Primarily front end dev (various js frameworks) but bigging up my .net experience so far has had little success other than angling calls from Opus/Rocsearch/Nigel Frank et al

[dx4100]

Whats your skillset if you don't mind me asking ?

[The Green View]

Got the paperwork for a new contract on it's way, which is about the third time in four years I have been out of contract on the run up to Christmas and the market to be dead for it to be resolved in January.

Nothing is simple...

The contract I was offered over new year is nearly signed but not quite yet... (inside £600 per day - fully remote - challenging interesting work)

Meanwhile I interviewed on Friday for an easy, boring contract which I was offered today... (outside - 1 day week onsite - £475 - boring easy work)

So two offers on the table.

I think the inside offer is the best one but its a ball-ache to get the legals finalised for various reasons - should finally tie up the last bits by lunchtime Tuesday. Meanwhile had to tell the other gig I was just finishing off the legals on another offer. Agent was gutted but I said if you give me 24 hours If I don't agree the legals on this one I will go for his offer - he said the client will probably be fine with that as they want me (If its not sorted by tomoz I am wondering if it ever will be) ...

So given agent 1 the hurry up - if he doesn't finally get everything sorted tomoz I am going with offer 2...

Nice problems to have I suppose...

May be a bit premature but congratulations.

I haven't even had a single interview in 4+ months so you're doing well. Hope it all gets wrapped up successfully.

[dx4100]

Nothing is simple...

The contract I was offered over new year is nearly signed but not quite yet... (inside £600 per day - fully remote - challenging interesting work)

Meanwhile I interviewed on Friday for an easy, boring contract which I was offered today... (outside - 1 day week onsite - £475 - boring easy work)

So two offers on the table.

I think the inside offer is the best one but its a ball-ache to get the legals finalised for various reasons - should finally tie up the last bits by lunchtime Tuesday. Meanwhile had to tell the other gig I was just finishing off the legals on another offer. Agent was gutted but I said if you give me 24 hours If I don't agree the legals on this one I will go for his offer - he said the client will probably be fine with that as they want me (If its not sorted by tomoz I am wondering if it ever will be) ...

So given agent 1 the hurry up - if he doesn't finally get everything sorted tomoz I am going with offer 2...

Nice problems to have I suppose...

[Bluenose]

You could just talk to a pigeon instead, be just as productive

I have contributed companies myself to that thread but in 2023 there is nothing wrong with asking a few questions before you hang up the phone.

Market looks very weak right now, you are doing well to find a good role in this market.

[SussexSeagull]

Got the paperwork for a new contract on it's way, which is about the third time in four years I have been out of contract on the run up to Christmas and the market to be dead for it to be resolved in January.

[hungry_hog]

Outside of Banking, some of these guys are now armed with big budgets for inside roles. Make sure you validate that before you close the call without talking.

University of Cambridge
Contracting tripos, Part 1A

https://forums.contractoruk.com/busi...in-the-uk.html

You could just talk to a pigeon instead, be just as productive

[edison]

The stock market did crash during covid but quickly recovered after central bank and government interventions. So it was quite logical.

The IT job market did the same thing.

Although the FTSE 100 held up well last year, the FTSE 250 was down 20%. So I guess we are currently feeling the effects of that.

Key thing to remember with the UK stock market is the FTSE100 is mostly comprised of global companies that make something like 70-80% of their money outside the UK so are insulated to a certain extent from a UK recession. Think oil & gas, miners, banks, pharmaceuticals. Those alone are 13 of the top 20 biggest firms.

Conversely, the FTSE250 is very UK economy focused, lots of retailers, property companies, housebuilders and others that are sensitive to consumer spending and often quite cyclical. I imagine FTSE250 firms will be more likely to be cutting back on hiring this year.

[Bluenose]

Yes, it's got so bad that I'm even answering calls from Indian recruiters rather than my usual "not today, thankyou" line.

Outside of Banking, some of these guys are now armed with big budgets for inside roles. Make sure you validate that before you close the call without talking.

[SussexSeagull]

Absolutely true but my Jobserve spam gauge is currently reading 40% lower activity than it was last June. That means it's agreetough out there right now.

I agree but you have to keep going!

Baskin the old days the way round 200 people applying for every contract was to apply for 200 contracts but that isn't possible anymore.

[TheDude]

Never worked in IB and I gather it's a bit of a closed shop unless you have prior experience.

Not at all. In fact you don't even have to be that competent to get into places like RBS, Barclays etc.

Goldman Sachs, Morgan Stanley etc. set the bar quite a bit higher but still recruit from outside the industry.

[The Green View]

TBH if you are in your late fifties I think you probably have a better chance with contracting than permie. I am at a big IB in the City and there are literally hundreds of over 50s contractors and hardly any over 50 permie devs. One thing I have noticed is that a lot of them work on back-end technology .... a lot being database and data pipeline specialists. Youngsters seem to be a bit scared of the relational DBMs monsters ... probably for good reason in this big data age.

Never worked in IB and I gather it's a bit of a closed shop unless you have prior experience. Maybe what you're saying applies to the wider market though.

Absolutely true but my Jobserve spam gauge is currently reading 40% lower activity than it was last June. That means its tough out there right now.

Yes, it's got so bad that I'm even answering calls from Indian recruiters rather than my usual "not today, thankyou" line.

[Bluenose]

Agree with the above but as ever you only have to get it right once to land a contract.

Absolutely true but my Jobserve spam gauge is currently reading 40% lower activity than it was last June. That means its tough out there right now.