Reply to: State of the Market

[edison]

We are 22 months into this slump.

I wasn't counting exactly at the time, but i reckon the slumps that happened after 1991 and 2001 lasted around 30 months (give or take a few months) each.

So we got 6 to 10 months left before this one ends if it equals the previous worst ones. Unless this one sets a new record and lasts longer, lets hope not, lets hope it ends sooner. The FTSE 250 closed at 20,400 today.

I reckon 10 months at least; six could still be before a general election.

[Fraidycat]

I remember thinking this surely cannot last but I didn't anticipate how it would turn so negative fairly quickly.

We are 22 months into this slump.

I wasn't counting exactly at the time, but i reckon the slumps that happened after 1991 and 2001 lasted around 30 months (give or take a few months) each.

So we got 6 to 10 months left before this one ends if it equals the previous worst ones. Unless this one sets a new record and lasts longer, lets hope not, lets hope it ends sooner. The FTSE 250 closed at 20,400 today.

[edison]

That article has a graph with an orange line that shows demand for top earners. It shows a top in July 2022, which is exactly when the UK contract market began this current slump.

I remember May-July 2022 vividly. I was hiring a junior role for one client and the market frenzy was insane. Agency rates were going through the roof and some were even asking to be paid in full in advance just to take on a brief for perm roles. I posted about this experience on LinkedIn and got the most views of any post I've ever made.

I remember thinking this surely cannot last but I didn't anticipate how it would turn so negative fairly quickly.

The article's assessment about higher earners being impacted the most chimes exactly with what so many recruiters have told me since the start of 2023.

[Fraidycat]

Any one else see this blog post?
https://www.businessinsider.com/hiri...-salary-2024-4

That article has a graph with an orange line that shows demand for top earners. It shows a top in July 2022, which is exactly when the UK contract market began this current slump.

[funkyContractorITUK]

Any one else see this blog post?

https://www.businessinsider.com/hiri...-salary-2024-4

[ladymuck]

Another week has gone by, looking for a new gig. Still only seeing roles that require extensive FS/Insurance experience. The requirements all look good until I reach that one line in bold that tells me my CV will go straight in the bin.

Not that I really want to work in that industry but I'd be prepared to make an exception in the short term.

[rocktronAMP]

i'm in contract but today had a rejection email from a firm I applied to 6 months ago, quite amusing.

"At this time" made me laugh. I presume they use a sundial as an egg timer!

Thank you for your interest in the "cheeseman" role at "Cheesy peas" hedge fund harvesting babies. At this time we have identified other candidates who will proceed for further consideration. Although you were not selected for this position, we encourage you to apply online again in the future should you identify another role of interest to you. In addition, please note that your resume will be added to our database for reference against future opportunities.

I'd request for the immediate and unequivocal deletion of YOUR personal identifiable information at this very lengthy procrastination.

[Fraidycat]

It was direct with Bank of Ireland, no agent involved.

I guess when the market is flooded with candidates we all get to experience the 'Hollywood Principle'

[avonleigh]

What kind of companies are these?

If going through an agent then the agent chases feedback, if going direct then there is normally a HR person or similar in the mix who will send the rejection email?

It was direct with Bank of Ireland, no agent involved.

[hungry_hog]

i'm in contract but today had a rejection email from a firm I applied to 6 months ago, quite amusing.

"At this time" made me laugh. I presume they use a sundial as an egg timer!

Thank you for your interest in the "cheeseman" role at "Cheesy peas" hedge fund harvesting babies. At this time we have identified other candidates who will proceed for further consideration. Although you were not selected for this position, we encourage you to apply online again in the future should you identify another role of interest to you. In addition, please note that your resume will be added to our database for reference against future opportunities.

[Cookielove]

What kind of companies are these?

If going through an agent then the agent chases feedback, if going direct then there is normally a HR person or similar in the mix who will send the rejection email?

I applied direct and after two interviews one being in person I got zilch ! I emailed the HR person as they arranged the in person interview and still nothing.... dodged a bullet but so bloody rude! They hirer was talking salaries with me I thought it was a dead cert...it is a mystery but it's not on to treat people in that way...I put a lot of effort in and travelled.

[dsc]

Got a perm role rejection today for a job I applied for almost a month ago. I've done the same role six times in various companies as a permie and contractor but the fact I even got a rejection is a minor victory to end the week

Best rejections are those for Easy Apply's via LI, after several months, when you no longer even remember you applied

Seen an ad yesterday for a tech lead position for some automation tulipe somewhere in the UK, salary range was 40k - 80k who the hell comes up with this crap?

[Fraidycat]

Had exactly the same. Initial teams call and then face to face, that was two weeks ago. Also, interviewed very well I thought. But the same, not got back to me.

What kind of companies are these?

If going through an agent then the agent chases feedback, if going direct then there is normally a HR person or similar in the mix who will send the rejection email?

[gables]

Had exactly the same. Initial teams call and then face to face, that was two weeks ago. Also, interviewed very well I thought. But the same, not got back to me. You kinda accept it with contracts. But when somebody has had two interviews, it's common decency to send a quick email to say thanks but no thanks. Quite annoyed by it.

Disagree slightly; I'm happy not to get an acknowledgement for an application being received or that I haven't got an interview. However, if I get an interview by Teams or face to face then I expect a contact\email informing me of my success or not, especially if I've travelled for the interview, contract or permie it doesn't matter as at this stage they've whittled down the candidates to a handful. So if this happened (which thankfully it hasn't as I've always been told following an interview) then I'd be inclined to think I'd dodged a bullet.

[avonleigh]

Getting a reply is a plus...I had two interviews for a perm role end of last year, one on Teams then second in person at their offices...they did not even get back to me. I put in a lot of effort...and nada!! They wanted ideas of x,y and z...think it was a con to get info on what to do

Am in a role but it is ending they have someone perm paying them c£50k , 20 years less experience...they can get people much younger/much cheaper....very demoralising the thought of looking again

Had exactly the same. Initial teams call and then face to face, that was two weeks ago. Also, interviewed very well I thought. But the same, not got back to me. You kinda accept it with contracts. But when somebody has had two interviews, it's common decency to send a quick email to say thanks but no thanks. Quite annoyed by it.