Originally posted by hungry_hog
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Reply to: State of the Market
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Previously on "State of the Market"
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Originally posted by Fraidycat View PostFTSE 250 making new 52 week high today, over 19,800
A bit off topic, although maybe not.
Microsoft, one company, is now worth about the same as all of the companies in the FTSE 100 + FTSE 250 combined.
So the same as the top 350 UK public companies.
$3.2 Trillion dollars.
The US stock markets are booming and the economy is doing well. The US government can keep issuing more and more debt as the USD is the worlds reserve currency.
There is pressure for existing UK companies to delist from London and move to New York because they will be valued much higher over there. New IPOs like ARM are going straight there. Major blow to the City.
If AI has caused a bubble in the US tech stocks, things are not going to be good for us when it pops, even though we haven't seen many of benefits here in the UK.Last edited by Fraidycat; Today, 06:50.
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Originally posted by willendure View Post
I have only ever worked as an outside IR35 contractor, my entire career starting in 2001. I did once or twice apply for permie roles, but always the question "I see you've only every been a contractor, are you just applying for a permie role because the market it dead just now?". The only permie roles I have been offered was when working as a contractor somewhere and they asked if I wanted to go perm, on about 1/2 of the money!
Someone rang me up about a role for 45k last year....I said to them that's very lovely as it will pay my mortgage but not leave anything for food
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Originally posted by oliverson View Post
The problem is when those roles go outside of London, the rates drop. I remember Morgan Stanley moving some of their dev roles to Glasgow and the rates reflected the location, pretty much in keeping with the rest of the contract market outside of London and outside of finance.
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Originally posted by sreed View Post
Glad to know that it's not just me who thought that!
As someone based in the NW, I was kind of hoping that the high-value FS roles would diversify location-wise post-covid but generally speaking, I haven't seen a lot of evidence of that happening yet.
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Originally posted by tsmith View Post
Jobserve has always been mostly professional services FS, Insurance, Legal etc + public sector in my experience.
Dont know why just seems that way - London roles seem to be ever more finance than ever.
As someone based in the NW, I was kind of hoping that the high-value FS roles would diversify location-wise post-covid but generally speaking, I haven't seen a lot of evidence of that happening yet.
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Originally posted by sreed View PostI've never used Jobserve much but having periodically glanced at it (for FS PM roles) after hearing it come up on the forum, it definitely looks like there's been a noticeable uptick in FS PM roles compared to when I checked a few times last year. A lot of it is 2 days/week hybrid London and the money is decent.
Dont know why just seems that way - London roles seem to be ever more finance than ever- maybe everyone else cant afford the rents.
The number of fintechs I see - mostly sounding very similar is astounding.
Especially variations of 'payment processing' - seriously how many 'payment processing' companies are required in this world? Dont get it.
Assuming its because of the below - eg VC's just spraying and praying something will stick...
"Open banking led to a fintech boom"
https://techcrunch.com/2023/10/04/op...ayments-grows/
but then
"Open banking in the UK needs a revolution, says report
In the UK, open banking has seen only limited success"
https://www.thebanker.com/Open-banki...ort-1689318369
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Originally posted by willendure View Post
I have only ever worked as an outside IR35 contractor, my entire career starting in 2001. I did once or twice apply for permie roles, but always the question "I see you've only every been a contractor, are you just applying for a permie role because the market it dead just now?". The only permie roles I have been offered was when working as a contractor somewhere and they asked if I wanted to go perm, on about 1/2 of the money!
Looking at the state of the market, it was probably the right decision.
I work for a large German company and it isn't too bad at all.
Like the way they do things - quite organized - I can see why the Germans are good at manufacturing and war.
I think I managed to get the job as they use old technology and had an urgent requirement.
I said contracting is not so appealing now due to IR35, contracts are shorter and I was looking for more stability.
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I've never used Jobserve much but having periodically glanced at it (for FS PM roles) after hearing it come up on the forum, it definitely looks like there's been a noticeable uptick in FS PM roles compared to when I checked a few times last year. A lot of it is 2 days/week hybrid London and the money is decent.
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Originally posted by willendure View Post
I have only ever worked as an outside IR35 contractor, my entire career starting in 2001. I did once or twice apply for permie roles, but always the question "I see you've only every been a contractor, are you just applying for a permie role because the market it dead just now?". The only permie roles I have been offered was when working as a contractor somewhere and they asked if I wanted to go perm, on about 1/2 of the money!
We've also got a number of very experienced contractors in cushy perm roles after being asked to go perm by their client. They last two gigs I've worked in the client managers were ex-contractors lured in by a decent offer during hard times. Both are quite happy with the situation due to life changes. Some clients will take the mick with an awful rate but there are plenty of gigs where the contractor holds a lot of sway with the package and can get a very good deal they couldn't in the market.
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Originally posted by hungry_hog View PostNever understand how people are able to jump back in and out like sentry duty.
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Originally posted by oliverson View PostThis thread is taking a disturbing turn down the 'job' (perm) side!
qh
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I find when I go for perm interviews (and it doesn't happen often) I have no credibility as a 15 year contractor. Whereas contract interviews pretty much 1 in 2 chance I will get it.
And then if you do get back in you have a 3 months notice.
Never understand how people are able to jump back in and out like sentry duty.
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