Reply to: State of the Market

[tsmith]

I've just read through the posts from Feb to now....... I took a perm job 2 years ago when the client I was at offered me one. For various reasons it suited at the time despite the paycut.

However, what has become increasingly clear is:

1. I can't handle 25 days holiday plus bank holidays - used to going away 3-4 times a year
2. There is a definite personality clash becoming apparent - maybe its 20 years as a contractor meaning I don't take jumping through hoops very well not sure but it ended up being told I was so awful at my job that I didn't deserve any pay rise (everyone else got 10%) and I was not getting my bonus even though they admitted I was severely underpaid for my role. Despite hardly being out of work in 20 years and had numerous repeat engagements - I don't think one goes from being good to awful overnight!
3. The work is drying up for consultancy I work for so not sure what will happen in a few months time

I'm thinking of looking for a contract and then just walking and telling them to stuff the job. the last few pages have been sobering. the only good thing is we are mortgage free and him indoors has a very good pension income which would pay the bills. I actually only really work for the holidays which I can't enjoy anymore as not enough time!

Perm is 70% Politics - 30% actual work.

Many of these perm leaders got there from outstaying everyone else not ability. If you are seen to better than them or dont toe the company line youre in trouble.

I tried to do the 'fractional' route with a perm role. They wanted 9am to 6pm - but didnt tell me the hours until after the offer. Fractional is a difficult thing to actually get any company to agree on.

https://www.ft.com/content/e3cfa50b-...8-c1dd6e457dba

"Now companies from Accenture to EY and McKinsey are slashing thousands of jobs. The valuations of consultancy businesses are falling — one reason EY pulled its Project Everest plan to separate its accounting and consultancy arms — while the industry’s reputation is under attack following scandals such as firms’ misconduct in South Africa.

Korn Ferry’s latest survey of North American consultancy partners showed the extent of the anxiety among staff. Nearly 60 per cent expected less demand and more pressure on fees in the coming year. More than 80 per cent were worried about having enough work and almost half expected further lay-offs."

[northernladuk]

1. I can't handle 25 days holiday plus bank holidays - used to going away 3-4 times a year

That's what sick days are for. Sorted.

[Fraidycat]

1. I can't handle 25 days holiday plus bank holidays - used to going away 3-4 times a year
2. There is a definite personality clash becoming apparent - maybe its 20 years as a contractor meaning I don't take jumping through hoops very well not sure but it ended up being told I was so awful at my job that I didn't deserve any pay rise (everyone else got 10%) and I was not getting my bonus even though they admitted I was severely underpaid for my role. Despite hardly being out of work in 20 years and had numerous repeat engagements - I don't think one goes from being good to awful overnight!
3. The work is drying up for consultancy I work for so not sure what will happen in a few months time

If holidays were that important to you then you should have negotiated more holiday when you went perm, eg an extra 10 or 15 days of unpaid holidays.

Might have improved your mood on the job as well, maybe you would have jumped through a few more of those hoops..

[mookiemoo]

I've just read through the posts from Feb to now....... I took a perm job 2 years ago when the client I was at offered me one. For various reasons it suited at the time despite the paycut.

However, what has become increasingly clear is:

1. I can't handle 25 days holiday plus bank holidays - used to going away 3-4 times a year
2. There is a definite personality clash becoming apparent - maybe its 20 years as a contractor meaning I don't take jumping through hoops very well not sure but it ended up being told I was so awful at my job that I didn't deserve any pay rise (everyone else got 10%) and I was not getting my bonus even though they admitted I was severely underpaid for my role. Despite hardly being out of work in 20 years and had numerous repeat engagements - I don't think one goes from being good to awful overnight!
3. The work is drying up for consultancy I work for so not sure what will happen in a few months time

I'm thinking of looking for a contract and then just walking and telling them to stuff the job. the last few pages have been sobering. the only good thing is we are mortgage free and him indoors has a very good pension income which would pay the bills. I actually only really work for the holidays which I can't enjoy anymore as not enough time!

[pjt]

Unusual to hear anything at all for me - about 90% of applications result in tumbleweed.

Not hearing back on a job add is what I now come to expect. Whats killing me is when an agent actually tells you your good for a role they have then ghost you. Its like chinese torture at the moment. Don't believe anything any of them are saying and not convinced may roles are even real.

[Peoplesoft bloke]

That's the issue, half the applications didn't even get an auto rejection which is kind of unusual, but then again, maybe not so much anymore.

Unusual to hear anything at all for me - about 90% of applications result in tumbleweed.

[willendure]

The inflation data in the US killed any chance of multiple interest rate cuts this year everywhere, including the EU and UK. That seemed to have caused a major change of sentiment, a turn for the even worse.

I agree this is the cause. A lot of pundits now saying we can expect a recession in the US through the summer, but they are also saying that it might be short lived. Simply because they are geared up now for stimulus programmes due to 2008, QE, covid, silicon bank. When deflation starts the stimulus should also arrive quickly. Fingers crossed anyway.

My current contract runs out end of June. So I am being ultra positive and helpful between now and then. Tired of this gig, but I know that if I am out then it is going to be tough to find another, and this may well be the last outside IR35 gig I ever get too!

[Fraidycat]

Agent phone me, 2 days onsite, central London, sc cleared, £400 inside.

I turned him down. I got the impression he was taking the Michael.

Is this ever going to end?

A couple of months ago you said you went to an interview for a junior role for something around £14per hour. But yesterday you turned away an agent phone call regarding a £50 per hour role?

[dsc]

I wouldn't hold your breath if you haven't heard anything by now after a month.

I'm finding that I don't even get a rejection notification for over half my perm applications.

That's the issue, half the applications didn't even get an auto rejection which is kind of unusual, but then again, maybe not so much anymore.

[SchumiStars]

Agent phone me, 2 days onsite, central London, sc cleared, £400 inside.

I turned him down. I got the impression he was taking the Michael.

Is this ever going to end?

[edison]

It's practically May now...

Still waiting for some feedback on the 10+ permie applications I've sent back at the end of March...Also turns out my current client had a change of heart and might actually be able to offer me a perm position [fingers crossed x 10]

I wouldn't hold your breath if you haven't heard anything by now after a month.

I'm finding that I don't even get a rejection notification for over half my perm applications.

[Fraidycat]

It's practically May now...

If i recall correctly, last years April bounce lasted into the middle of May. This years April bounce fizzled out before the middle of April.

The inflation data in the US killed any chance of multiple interest rate cuts this year everywhere, including the EU and UK. That seemed to have caused a major change of sentiment, a turn for the even worse.

[dsc]

It looks like the market is back to the level last seen in December but its now April , which is supposed to be one the best months of the year..

It's practically May now...

Still waiting for some feedback on the 10+ permie applications I've sent back at the end of March...Also turns out my current client had a change of heart and might actually be able to offer me a perm position [fingers crossed x 10]

[Fraidycat]

Well, having spent much of the day scratching about looking for a new gig, I can safely say there's sweet FA out there

It looks like the market is back to the level last seen in December but its now April , which is supposed to be one the best months of the year..

[FIERCE TANK BATTLE]

Good ol' apex fallacy

Elon Musk is rich and he's a man, so all men are basically rich elon musks

I like this video https://v.redd.it/7rwjp1bb063a1