Advice on potential contract choice

[Daplayer321]

Thank you for the advice all, after being 5 months out of work I have landed a new contract at an IB on a healthy £600 pd rate on a MiFID II role.

I didn't get the consultancy gig as I had already interviewed with the consultancies end client for a perm role and it would have been a conflict of interest.

[SandyD]

You resigned yet?

haha, just declined the extension

Back to London, not sure if its a good move, perhaps being in EU was a better move, but we'll see.

[northernladuk]

I had very similar options to you just in the last week, I went for Role 1 direct to client.
I have worked for 2 of the big 4 consultancies and other smaller consultancies in my past permie days, and I know consultancy work is going to be extremely demanding, you will have two bosses to keep happy... demanding is not the word, I'd say it will take over your life, however, you wont actually achieve smarter work through them... consultancies are very political, insecure, self serving.
As a contractor you'll find yourself in between, not belonging to client team or the consultancy team.

You resigned yet?

[SandyD]

I had very similar options to you just in the last week, I went for Role 1 direct to client.
I have worked for 2 of the big 4 consultancies and other smaller consultancies in my past permie days, and I know consultancy work is going to be extremely demanding, you will have two bosses to keep happy... demanding is not the word, I'd say it will take over your life, however, you wont actually achieve smarter work through them... consultancies are very political, insecure, self serving.
As a contractor you'll find yourself in between, not belonging to client team or the consultancy team.

[MrMarkyMark]

I should add working though a consultancy will generally be harder, often for all the wrong reasons.

Reason being you have 2 clients BS to put up with.

Also, some Client Co representatives may resent what they are being charged by the consultancy.
This can also lead them to try and treat you as one of "them".

I have done gigs for 5 different consultancies in the past (not all big 4, same boutique) and have noticed elements of the above in all of them.

[northernladyuk]

Hi,

I would like some opinions on what potentially is the best route to take :-

So I have been put foward for 2 contract roles, interviewed and everything so far is very good, I don't want to bite myself in the back in case I don't get any offers however would like some opinions on the 2 roles:

Role 1 - BA role working on MiFID II for a renowned tier 1 bank.

Role 2 - BA role working on general reg remediation work but through a top 4 consultancy with end client being tier 1 bank.

Now the rate on both would roughly be the same with same contract lengths.
Role 1 seems very interesting and can get a lot of exposure on MiFID II and learn a lot but MiFID will finish in 6 months time.

Role 2 is a top 4 consultancy with potential for future work in other areas if I do well.

Now generally does it look good on a contractors marketability if they have a consultancy background, are clients more drawn towards them as they are perceived as being more "polished".

Has anyone been down this route? Appreciate any feedback.

Toss a coin.

[Lambert Simnel]

I'd tend to go for role 1. MiFID2 is indeed finishing in 8 moths time, but many (ok, my sample size is 2) of the large Banks will have remediation programmes lined up to sort things out afterwards. You should be able to get a decent number of invoices submitted on the back of this one.

Having done quite a bit of recruitment as a permie manager, I'd say there is some benefit in having one of the big four consultancies on your cv - it de-risks the proposition somewhat from the hiring manager's perspective, in that you have likely proven yourself in a fairly challenging environment. It won't get you the post if you haven't got the right skillset though, and a short period at one of the Big Four might be interpreted as an indication that you're too sensitive / couldn't hack it.

[kaiser78]

Top 4 consultantcy experience counts less than having the right skillset, so don't think you need to be tied into this, especially if it is not your preferred option.

[MrMarkyMark]

I would go for role 1.

There are a lot of consultancies that are disappearing quicker than IB contractors currently.

You might have an opportunity to pick up the reg tidy up work should the consultancies lose that work.

[Daplayer321]

Hi,

I would like some opinions on what potentially is the best route to take :-

So I have been put foward for 2 contract roles, interviewed and everything so far is very good, I don't want to bite myself in the back in case I don't get any offers however would like some opinions on the 2 roles:

Role 1 - BA role working on MiFID II for a renowned tier 1 bank.

Role 2 - BA role working on general reg remediation work but through a top 4 consultancy with end client being tier 1 bank.

Now the rate on both would roughly be the same with same contract lengths.
Role 1 seems very interesting and can get a lot of exposure on MiFID II and learn a lot but MiFID will finish in 6 months time.

Role 2 is a top 4 consultancy with potential for future work in other areas if I do well.

Now generally does it look good on a contractors marketability if they have a consultancy background, are clients more drawn towards them as they are perceived as being more "polished".

Has anyone been down this route? Appreciate any feedback.