Reply to: Anyone who has 'went perm', how has it been?

[Old Greg]

that's just for those who have nothing outside of work to take pride in

Some of us can multi-pride.

[PCTNN]

Only for those of us who take pride in our work.

that's just for those who have nothing outside of work to take pride in

[LondonManc]

And is this a bad thing for contractors? This way of working is what makes 6 months projects last for 18 months; it's what fattens up our warchests and pays off our mortgages.

Only for those of us who take pride in our work.

[PCTNN]

Or...

Attracts permietractors who spend all they earn and go bankrupt when the gig suddenly ends

Some people need to learn the hard way.

Know a guy, ex colleague, who was on £475 a day for 24 months; didn't save one penny, his contract didn't get renewed just after he got tied in a 12 month lease for a very expensive house. The poor guy had to take a 30k a year permie salary and take out several wonga loans to get him to his next paycheck.

Not the sharpest tool in the shed, aka your typical front-end dev

[ladymuck]

And is this a bad thing for contractors? This way of working is what makes 6 months projects last for 18 months; it's what fattens up our warchests and pays off our mortgages.

Or...

Attracts permietractors who spend all they earn and go bankrupt when the gig suddenly ends

[PCTNN]

Retail seemed very much a case of "we've always done it this way, no matter how wrong it is" with no desire to improve.

And is this a bad thing for contractors? This way of working is what makes 6 months projects last for 18 months; it's what fattens up our warchests and pays off our mortgages.

[Old Greg]

Probably off-brand. Fallen into the "hoover" trap there.

Vetran has a few threads in General about that.

[ladymuck]

Proper Blu Tack, or a cheap off brand alternative?

Probably off-brand. Fallen into the "hoover" trap there.

[LondonManc]

I've not heard anything good about contracting in IB. If you're not part of the old boy's club, it can be very much a bunch of snarky insiders who will obstruct you at every turn. Yeah the pay can be excellent but be prepared to have no life and be treated like tulip.

By contrast, retail banking can be ok if you're in the right team with decent management support but they have no money so everything is stuck together with sticky tape and bluetac.

I found it to be completely the opposite. Get in there, given them the professional working day that you've been contracted to deliver and foxtrot oscar to the Henry Addington, The Gun or somewhere on West India Quay while they're still grafting to try not to get turned down for their promotion bid to VP.

Retail seemed very much a case of "we've always done it this way, no matter how wrong it is" with no desire to improve. Using SQL Server 2005 in 2017, etc. with a mad scramble to get it upgraded (but only to 2008.....) and an illusion that Excel as a reporting tool won't get you audit points.

[Old Greg]

I've not heard anything good about contracting in IB. If you're not part of the old boy's club, it can be very much a bunch of snarky insiders who will obstruct you at every turn. Yeah the pay can be excellent but be prepared to have no life and be treated like tulip.

By contrast, retail banking can be ok if you're in the right team with decent management support but they have no money so everything is stuck together with sticky tape and bluetac.

Proper Blu Tack, or a cheap off brand alternative?

[ladymuck]

I've not heard anything good about contracting in IB. If you're not part of the old boy's club, it can be very much a bunch of snarky insiders who will obstruct you at every turn. Yeah the pay can be excellent but be prepared to have no life and be treated like tulip.

By contrast, retail banking can be ok if you're in the right team with decent management support but they have no money so everything is stuck together with sticky tape and bluetac.

[rootsnall]

What made it horrible?

This was investment banking, and I was contracting, pretty ruthless environment with stressed permie managers at their desks 8-6 minimum and watching you like hawks. Just not a nice place to work, no laughs allowed.

[heyya99]

I found the banking sector just a horrible place to work fullstop, I wormed my way in but then wormed my way back out asap.

What made it horrible?

[rootsnall]

The banking sector as a whole are not renowned for being amazing employers. Other sectors are available.

I found the banking sector just a horrible place to work fullstop, I wormed my way in but then wormed my way back out asap.

Yes good post BritishLad88. If you are still at the stage of having money worries then I'd be going Perm. In the 90s you could earn double, maybe even triple what your permie Team Lead was on and no IR35 worries. Once it's getting to paying almost the same and possibly worse if you are forced to pay full NI then.....

[LondonManc]

I think I can sum this all up as:

A great perm job is better than a tulip or no contract
A great contract role is better than a permie role.


If it's a toss up between a tulip perm role and a tulip contract, I'd take the contract.

I'd also offer the thought that if you're a contractor, you're a contractor; take the contract.
If you're feeling like your skillset is becoming niche, bite the bullet, go perm for a few years to reskill then go contracting with your new skill. Or get your own ltd to pay for your (relevant) training, or even pay for it yourself.