Not seen many of those...

[bobspud]

This^

I used to work for Barclays on a 3 month rolling basis. Decent rates.

Then they let all the contractors go.

Then re-listed all the roles a few months later with "minimum 1 year contract, no notice by contractor" and with very, very poor rates - worse than the permies were getting. You were supposed to be very, very, very grateful for the offer of such a long contract - and overlook the slave rates of pay on offer.

Not surprisingly, they didn't get anyone. Now they are back to rolling 3 month contracts with better (only just) rates, but still can't find people.

I have heard that Knutsford is a very hard place to work due to "Environmental Damage". With contractors willing to do more than one tour of duty being held in very high regard by the agencies concerned. Always laugh whenever I get called to go up there...

[jmo21]

Unless you expect to be on site for <40%, you come against the 2 year rule.

I thought it was "as soon as you know the contract will go over 2 years"?

Just get the end date to be 1 day less than 2 years to make sure

[nomadd]

It depends if "market rates" are genuine contractor market rates or disguised permie..

This^

I used to work for Barclays on a 3 month rolling basis. Decent rates.

Then they let all the contractors go.

Then re-listed all the roles a few months later with "minimum 1 year contract, no notice by contractor" and with very, very poor rates - worse than the permies were getting. You were supposed to be very, very, very grateful for the offer of such a long contract - and overlook the slave rates of pay on offer.

Not surprisingly, they didn't get anyone. Now they are back to rolling 3 month contracts with better (only just) rates, but still can't find people.

[craig1]

[Why] is that the case?

Unless you expect to be on site for <40%, you come against the 2 year rule.

[d000hg]

the 2 year time means no travel expenses from the very first day.

[Why] is that the case?

[craig1]

I'd take £salary/52 as a daily rate.

Fixed....

[Scrag Meister]

It depends if "market rates" are genuine contractor market rates or disguised permie "take the salary and divide it by 52 to give a daily rate" rates. The former can be quite lucrative and give good long-term potential for building a huge warchest plus paying for a long "sabbatical" break, even though the 2 year time means no travel expenses from the very first day.

I'd take £salary/52 as a daily rate.

[Normie]

I had a 2 year contact, which was then renewed for another 2 years. "Proper" contract and "proper" rates (£450+) - still got another 6 months to go on the extension.

[craig1]

It depends if "market rates" are genuine contractor market rates or disguised permie "take the salary and divide it by 240 to give a daily rate" rates. The former can be quite lucrative and give good long-term potential for building a huge warchest plus paying for a long "sabbatical" break, even though the 2 year time means no travel expenses from the very first day.

[d000hg]

Don't be confused by these new permie 2 year contracts where they can have you work as a permie for 2 years and not have to give you all the benefits. After a certain time they are obliged to give you an offer or let you go. BUPA do it. Dunno how they can get away with them, its like getting 2 years cheap labour and not have to commit to the employee.

Without seeing the contract it may be a proper 2 year contract as we know it but would be mindful of the above first.

Hadn't thought of that. Since I'm not applying I'll never know - but the ad reads:

C++ low latency Developer - London
Essential Skills:
C++
Linux/Unix
Finance experience specifically ecommerce, equity and fixed income, particulaly within a low latency environment

My client is looking for a C++ low latency developer with a track record of working within the finance sector

The ideal candidate with be a C++ low latency developer comfortable writing algorithms within a fixed income and ecommerce background

Contract 2 years, start ASAP, Market Rates
Please email an updated CV if interested

In that sector, I'd assume it is a proper deal and they simply need someone to stick around long enough to be valuable.

[northernladuk]

Don't be confused by these new permie 2 year contracts where they can have you work as a permie for 2 years and not have to give you all the benefits. After a certain time they are obliged to give you an offer or let you go. BUPA do it. Dunno how they can get away with them, its like getting 2 years cheap labour and not have to commit to the employee.

Without seeing the contract it may be a proper 2 year contract as we know it but would be mindful of the above first.

[chef]

I had 2 year contracts but they were usually the result of 3-6 months initial work with several 3 month extensions once they realised the project needs far more time to be done properly

[d000hg]

2 year contracts that is. In fact possibly the first one I've come across in my area.
Is it unusual?