Reply to: State of the Market

[BigDataPro]

To those who are on the bench - just hang in there. I know it is very hard, easier said than done. Think of it like a break you always wanted. Use the time to Learn something new that you have always wanted to do but were afraid of or couldn't find time. I invested my bench time to learn about stock market (which I was afraid of for a very long time) and up-skilled myself with couple of certifications.

Current trend will change soon. All we can to do is to be ready when it does.

[ladymuck]

Any organisation offering bargain basement rates must surely know that people will move on as soon as a better offer comes up? Those rates are being accepted purely because some cash is better than none.

Considering some programme/project managers practically take whole teams with them from one client to another, that is a serious risk to be taking if they actually want something delivered.

[Fraidycat]

I'm finding the effects absolutely horrible, as you describe

The mental strain can be immense.

I was out for a year after September 2001, till October 2022. I had loaded up on my first mortgage a week before my contract got canned early. I used half my war chest for a nice deposit but still had a huge mortgage (for the time). I also lost a lot in the stock market which tanked 50% during 2002.

I went from being cash rich and having a high paying contract, to being loaded up with mortgage debt and cash poor (almost broke) and unemployed/zero income for a year.

[SchumiStars]

Congrats to all that have found new contracts. I'm still on the bench, still looking, still watching David Goggins and have a feeling that I am 40% through the tulip.

Flat broke. But this is my jigsaw, I need to work it out. No idea how but I know it will resolve.

[sspt27]

Not at all. Over the period of 6 months I was open to all sorts including perm roles, low salary, inside roles, part-time jobs etc. Primarily because I had a long gap in 2023 as well. I was surviving with my savings and I still can do for the next couple of years as well. However, this gap pushed me to a point where I was feeling low, desperate, useless, confidence dropped to negative and so on. Therefore, I was 100% flexible and had no demand whatsoever. In fact, I would have taken up shelf racking job had super markets offered it.

Glad it's not just me. I've been on the bench for 6 months now, and I'm finding the effects absolutely horrible, as you describe. I've tried to think up an exit plan, but for some reason - perhaps the current state of the world, or the current state of me - nothing feasible comes to mind. Congrats on getting through this and finally finding a contract! I hope that will be me soon...

[cojak]

https://forums.contractoruk.com/busi...al-forums.html Perhaps?

You are quite right.

Post removed.

[pjt]

Wee update from me..
I was on the bench for 5 months (first time its ever happened). Things were looking grim for the best part of that 5 months. Around a month ago things really started to pick up with calls coming in for multiple solid roles one day then a trickle coming in over the next 2 weeks till I landed a great gig. Been busy in the new role for a few weeks so not really been on here but ever since that day things have been coming in again for me. Got a gig now till later on this year so hoping things remain like this for me till then.

I went from starting to think I'd be benched forever to being back saying no to agents very quickly. So for anyone on the bench I hope the same happens for you all soon its not fun on that bench!

[BigDataPro]

Congrats, very happy for you.

If you don’t mind me asking, over the 6 month period that you were looking for a new contract, did you have particular requirements (eg: outside only, specific profile, etc.) re the contracts you would consider or were you fairly flexible?

Not at all. Over the period of 6 months I was open to all sorts including perm roles, low salary, inside roles, part-time jobs etc. Primarily because I had a long gap in 2023 as well. I was surviving with my savings and I still can do for the next couple of years as well. However, this gap pushed me to a point where I was feeling low, desperate, useless, confidence dropped to negative and so on. Therefore, I was 100% flexible and had no demand whatsoever. In fact, I would have taken up shelf racking job had super markets offered it.

[sreed]

Finally got an outside role nearly after 6-7 months on the bench. Although LI & JS are dead, this one came through LI. I think this could be an indication that market is slowly recovering.

Congrats, very happy for you.

If you don’t mind me asking, over the 6 month period that you were looking for a new contract, did you have particular requirements (eg: outside only, specific profile, etc.) re the contracts you would consider or were you fairly flexible?

[SussexSeagull]

£150 FTC was approximately the lowest i saw one benched contractor taking in the slump of 2003. And that was thought to be very low at the time.

I bottomed out at £150 a day outside IR35 round about the time of the financial crash. Only contract I have ever served notice on as there was a very real threat of me asking the Test Manager to join me in the car park.

Oddly my rates as a Tester have been as good as ever over the last 12 months, although I have been out for a week now and it is very quiet.

[SussexSeagull]

2003 was a bad period for testers. I did a role for £192 per day. It was very low and people laughed at the time. But I had no warchest so did it for 9 months or so. It turned out to be a good decision as it kept me going through that bad spell. While I heard of several people having to sell their houses.

I was still permanent at the time but I think there was something of a backlash after the Millennium Bug proved to be something of a damp squib.

[oliverson]

Finally got an outside role nearly after 6-7 months on the bench. Although LI & JS are dead, this one came through LI. I think this could be an indication that market is slowly recovering.

Congratulations. I know only too well what lengthy spells on the bench can do to you!

[BigDataPro]

Finally got an outside role nearly after 6-7 months on the bench. Although LI & JS are dead, this one came through LI. I think this could be an indication that market is slowly recovering.

[Fraidycat]

Some good news, inflation in the US came in a little bit better than expected today. Rate cut now expected in the US in September. And in August by the BOE.

[avonleigh]

£150 FTC was approximately the lowest I saw one benched contractor taking in the slump of 2003. And that was thought to be very low at the time.

2003 was a bad period for testers. I did a role for £192 per day. It was very low and people laughed at the time. But I had no warchest so did it for 9 months or so. It turned out to be a good decision as it kept me going through that bad spell. While I heard of several people having to sell their houses.