Reply to: State of the Market

[simes]

Interesting. Cheers.

I must admit, I only look at Jobserve numbers for my particular search. If I am right about Jobserve being primarily an IT board, then even they must be hurting as, for my search 'project, programme', they now seem to be advertising roles to include Housing Project Workers. But either way, the daily number of adverts for that search has gone down from around 200 to 20... including the above Housing roles!

Still, everything will be better after the Xmas break.

[Fraidycat]

Really? But really really?

I feel this is just agent speak; seller optimism with zero empirical knowledge. "We will see movement after the election, budget, Easter break, Christmas holiday, this that and the random other." No.

The US election wont have as big an effect as any interest rate cut by the Fed on the day after, the US Fed meets on Nov 6th.

The UK General election was July 4th. After that election Jobserve was stagnant at around 20K jobs until about the 20th of August when the number of jobs on JobServe jumped from 20,000 to 40,000, this left me scratching my head as we don't normally see a bounce in jobs in the holiday month of August?

But then i realised it was the BOE in cut in the first week of August that caused that jump in Financial Service/Banking Tech jobs, which are the big sector on Jobserve.

If the BOE can somehow cut rates to below 4% over the next year, i expect the number of roles on Jobserve to double again from 40,000 to 80,000.

[simes]

This is for the record. We will [see] the direction after the USA election by this time next week.

Really? But really really?

I feel this is just agent speak; seller optimism with zero empirical knowledge. "We will see movement after the election, budget, Easter break, Christmas holiday, this that and the random other." No.

I have never seen obvious positive movement after any of these typical 'ideas'. Movement has always been part of the cyclical economical ebb and flow that appears irrespective of any of the above. And/but, to counter that, with the constant changes being applied by the Govt and HMRC to how we do what we do, I cannot see any recruiter having the confidence to deal with us to manifest any grander upswing in movement...for a considerable length of time.

(Clearly, one can see how utterly redundant I have been to the economy over the past year-plus. /rant. But I do wish the best of luck to all those out there that Believe.)

[Bluenose]

I have had a few phone calls and have an interview next week. Are things thawing out a bit?

Yes. And the U.S economic juggernaught keeps steaming along.

As per the other thread about East Coast U.S and remote roles, I keep being pinged about remote work there but the contract rates are about the same.

Permie rates though, you can double your salary if you move but if you dont move you can take a role paying much more than working for a UK based firm.

[squarepeg]

Suddenly got a few calls out of the blue from agents, two with specific opportunities, one contract, one fractional. Unfortunately timing was bad as I'm in a gig but will be looking again come the new year. But hopefully it shows the market not's completely dead.

Current client has been looking almost nine months to find a permie to fill my role but had no success.

They've asked if I'd be interested in going perm but the salary is only just over half of the jobs I was doing a few years back

Similar experience over the last two weeks. I interviewed with three potential clients for time-sensitive projects they cannot find permies for. Looks like a handful of outside IR35 roles have been released. I had to tell two recruiters offering inside roles that I'm no longer interested after the Budget.

[SussexSeagull]

Sounds like a dead cat bounce ahead of things packing up for Christmas in a couple of weeks!

[Fraidycat]

can't find someone for 9 months

In this situation its often that the existing permie team are on tulipe salaries.

So they cant offer higher rates to new hires.

[willendure]

Current client has been looking almost nine months to find a permie to fill my role but had no success.

They've asked if I'd be interested in going perm but the salary is only just over half of the jobs I was doing a few years back

Sounds like a no brainer - can't find someone for 9 months, they just need to offer you the right amount!

[edison]

Suddenly got a few calls out of the blue from agents, two with specific opportunities, one contract, one fractional. Unfortunately timing was bad as I'm in a gig but will be looking again come the new year. But hopefully it shows the market not's completely dead.

Current client has been looking almost nine months to find a permie to fill my role but had no success.

They've asked if I'd be interested in going perm but the salary is only just over half of the jobs I was doing a few years back

[rocktronAMP]

Before the Budget 2024 Wednesday 30th October 2024

IT Risk Analyst
12 Month Contract
Hybrid (2 days a week in the office)
Financial Services
ASAP Start Date

My Financial Services client is currently seeking for an IT Risk Analyst to join the team.

Logistics:
- 12 Month Rolling Contract
- £375 p/d inside IR35
- Occasional visits to the london office (twice a week)

After the Budget 2024, the upswing is the Loan Charge Scandal will be reviewed again from LCAG, WTTG.
However, this does not help existing contractors with uncertainty.
This is for the record. We will the direction after the USA election by this time next week.

[willendure]

Could be. Just seen 3 contracts in my area that I can apply for, and I have not seen anything at all in this vicinity for 2 whole months!!

[SussexSeagull]

I have had a few phone calls and have an interview next week. Are things thawing out a bit?

[avonleigh]

Just done an interview. Java, 5 days onsite. 60k. After me, they had another 4 people to interview. 3 interview stages, with a tech test.

State of the market!

Please God! Need a job!

Good luck. 3 interviews is nuts. I thought I had landed a really good permie job. Had second interview arranged for next week. Had to give a presentation, which I have prepared and it was ready to go. Got a call from agent yesterday to say they have found somebody. Very annoyed. Fair enough if that's before first interview or after. But to arrange second interviews and do this is really poor form. Not impressed. In a contract still but been looking for permie roles for 2 or 3 years. Only had one other interview in that time. Lost count of how many rejections I have had. Pretty much resigned to ever going permie now.

[Smoggy]

The actuarial contract market seems dead as well right now. Contract ending in December. Nothing much going on so taken a FTC until May. Good salary and benefits and hopefully things will have picked up a bit by then.

I don't really want to go perm but if I could get something with similar benefits as the FTC: £108k, 15% pension, 30 days holiday + bonus I'd consider it. Rates, tax and IR35 have chipped away at the contractor premium since I started out 10 years ago.

[SchumiStars]

Just done an interview. Java, 5 days onsite. 60k. After me, they had another 4 people to interview. 3 interview stages, with a tech test.

State of the market!

Please God! Need a job!