• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Collapse

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

  • You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
  • You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
  • If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

Previously on "State of the Market"

Collapse

  • dsc
    replied
    Green energy sector was super hot when gov money was pouring in, now that tap has been turned off and suddenly it's not that great, perhaps green energy should cost more as otherwise companies can't even break even let alone earning anything etc. High interest rates are a killer atm, so pretty much everyone is taking a deep breath and waiting whilst also cutting costs.

    Leave a comment:


  • willendure
    replied
    Originally posted by sreed View Post
    Major sectors doing materially better - public admin, defence, scientific, health & social
    Major sectors doing similar - Finance and insurance, arts, education, manufacturing, transport & storage
    Major sectors doing much worse - retail, wholesale, motor related
    In other words sectors dependant on government borrowing to fund them are doing well.

    Private sector investment is practically non-existant, especially in the UK which lags the G7 on private investment. https://www.theactuary.com/2024/06/2...mentary%20term.

    Similar set up in many ways to what happened in the 70s. Except the government debt load is at end of WW2 levels, and was much much lower back in the 70s.

    Expect more inflation and private capital will hide out until that clears. In a decade or two.
    Last edited by willendure; Yesterday, 21:45.

    Leave a comment:


  • Skyliner33
    replied
    I was given notice 8 weeks ago now, bank ran out of budget, usual stuff, kept applying for 4 weeks but not getting much back, even to a couple of roles I knew I would be perfect for. 1st day on the bench had a second interview, and got offered it that night. It's not contract, but FTC maternity till end of 2026, decided I'll take it and ride out the wave (hopefully).

    Didn't want to wait around doing nothing for months, start date after vetting is in 2 weeks, so enjoying 6 weeks off. Contracting since 2016 and never been out of work, but it just seems the good times went a long time ago, 2021 the phone and linkedin was going off every other day like others have said, 2022 approached for my best day rate ever, whilst also doing some other consultancy which was a great year, last 12 months lower inside day rate whilst having to commute to London twice a week.

    Now another big pay cut on on PAYE, plus sides are big company pension contribution and no commuting to London and what seems like a good company, mentally it's hard to take though after looking at what I was earning in 2022/23. What I noticed In my field now (UX/UI) is total oversaturation of candidates, and if course not enough work, too many overnight bootcamps and people coming into the industry. I've enjoyed some good years, now I'll cut back a bit and see what the market is like come 2026.

    Feel for all the people still struggling for work, ultimately I decided taking a perm role rather than waiting around for months with no guarantee was better.
    Last edited by Skyliner33; Yesterday, 08:53.

    Leave a comment:


  • sreed
    replied
    Originally posted by Fraidycat View Post
    A week after the election and zero bounce on Jobserve.

    When interest rates were near zero 3 years ago, I though 5%+ interest rates would kill the economy in general.

    The only thing that seems to have been killed are large chunks of the IT jobs market.

    Which other job markets (i mean outside of IT) are having a equally bad or worse time than us?
    I wouldn’t expect the election to have any noticeable positive/negative impact on the job market. The results have been priced in for a long time now and the overarching theme has been no-change, no surprises. A few sectors might be impacted by new policies (eg: favourable to the UK green sector, adverse to the UK oil & gas sector) but it's not going to create any major sudden movements either way.

    If (and it’s a big if) the new govt manages to settle in and offer a realistic prospect of 5 years of stability in major policies, then that might be one small factor that is favourable. But again, there are many more as important (if not more!) factors in the background that will contribute to what happens.

    As per ONS time series data on job vacancies (I’ve taken ‘Information and communications’) as the closest IT equivalent -

    Major sectors doing materially better - public admin, defence, scientific, health & social

    Major sectors doing similar - Finance and insurance, arts, education, manufacturing, transport & storage

    Major sectors doing much worse - retail, wholesale, motor related
    Last edited by sreed; 13 July 2024, 07:28.

    Leave a comment:


  • PCTNN
    replied
    Market not looking great for UX/UI Design roles so it's a good thing my contract has been extended until the end of the year.

    Leave a comment:


  • Fraidycat
    replied
    A week after the election and zero bounce on Jobserve.

    When interest rates were near zero 3 years ago, I though 5%+ interest rates would kill the economy in general.

    The only thing that seems to have been killed are large chunks of the IT jobs market.

    Which other job markets (i mean outside of IT) are having a equally bad or worse time than us?

    Leave a comment:


  • SussexSeagull
    replied
    Another week and I could say another week to being no nearer to getting a contract but as the last couple of contracts I got came out of the blue I am not sure you can say that anymore.

    Leave a comment:


  • dsc
    replied
    Originally posted by eek View Post

    Cheapstakes will always be cheapstakes and see what they can get away with.

    Problem is £550 inside is still a £150,000 or so yearly cost so I can see why they think it's a great deal..
    The thing is, is this is what most offer, this becomes the market rate. Who cares what used to be paid 5-10yrs ago.

    Leave a comment:


  • FIERCE TANK BATTLE
    replied
    Highest rate I ever had was 550, normal is 400-430, in this market I would go lower. Always outside. I'm a developer/architect/anytitleyoulike although I very experienced, yet since nobody can even remotely measure or identify good developers it is difficult to stand out.

    No bugatti or harem

    Leave a comment:


  • sreed
    replied
    Originally posted by ladymuck View Post
    Wow, you need 20 years experience over three very different sectors all for £550, inside?? What is the world coming to?
    There’s no way they’re getting someone with that breadth of skill set and experience for that rate. We have an equivalent one-man band consultant SA on my project and he charges £1,500 a day though it’s only 3 days a week Tue-Thu.

    I can only imagine that the recruiter just wants to throttle the number of applications they get. Either that, or they’ve vastly oversold themselves to the client!

    Leave a comment:


  • hungry_hog
    replied
    Originally posted by eek View Post

    Cheapstakes will always be cheapstakes and see what they can get away with.

    Problem is £550 inside is still a £150,000 or so yearly cost so I can see why they think it's a great deal..
    For a PAYE rate it's ok, if it's Umbrella it's not great

    it's still well over 100k, and miles over what most people can dream of, I feel like everyone here lives in Mayfair, drives a Bugatti and has 15 high maintenance wenches
    Last edited by hungry_hog; 12 July 2024, 09:18.

    Leave a comment:


  • sreed
    replied
    Originally posted by Fraidycat View Post
    1800 Indians turn up for 10 positions in person back home in Gujarat, chaos ensues.

    I think some UK companies still occasionally do open interview days for perm roles, no idea what the turnout for those would be in this market.

    Wow. That is crazy. Instantly rules out women I guess.

    And this is the country Sunak wanted to do a trade-for-visas deal with! Thank **** that never came to pass.

    Leave a comment:


  • eek
    replied
    Originally posted by ladymuck View Post
    Wow, you need 20 years experience over three very different sectors all for £550, inside?? What is the world coming to?
    Cheapstakes will always be cheapstakes and see what they can get away with.

    Problem is £550 inside is still a £150,000 or so yearly cost so I can see why they think it's a great deal..

    Leave a comment:


  • cojak
    replied
    Originally posted by ladymuck View Post
    Wow, you need 20 years experience over three very different sectors all for £550, inside?? What is the world coming to?
    Most of those SBA’s have retired and are doing other things these days.

    Leave a comment:


  • ladymuck
    replied
    Wow, you need 20 years experience over three very different sectors all for £550, inside?? What is the world coming to?

    Role: Business Architect / Senior Business Analyst

    Location: UK Remote

    Duration: 6 Months

    Day rate: £550 inside IR35

    Role Description:

    Our client needs a professionally qualified Senior Business Analyst & Business Architect with over 20 years of experience in enabling change and realizing value across the Financial Services, Healthcare, and Energy sectors. The ideal candidate will possess proven analytical methods, techniques, and creative problem-solving skills and will be comfortable in both business and technical roles, able to perform strategic/enterprise analysis as well as detailed analysis and design.

    Leave a comment:

Working...
X