Reply to: Breaking into the Investment Banking sector in London

[nomadd]

Get in, write some good code, give some advice, get the wheel-barrow for the money, go home.

My contract is a slight variation on that theme which goes something like:

Get in, write some good code - see code and copious comments ignored by the rest of the [offshore] team - , give some advice - see advice ignored by the rest of the [offshore] team - , get the wheel-barrow for the money, go home.

Wait 2 weeks for offshore code to fail miserably. Refer offshore team to earlier code supplied along with copious comments. Refer offshore team to previously provided ignored advice. Get another wheel-barrow for the extra money, go home.

Contracting, eh?

[SajStars]

I'm contract in IB and do 9-5.30 with generous lunch break. Was working 9-8/9 regularly as a permie for half the money. When you are contracting you don't need to 'play the game' (AKA a$$ kissing) which it turns out takes up most of the time. Get in, write some good code, give some advice, get the wheel-barrow for the money, go home.

To be fair though - I am sour about it.

I did find that I was more productive as a contractor than a permi.

[imightbewrong]

There are lucrative, but i can imagine that they are also very demanding. Not sure I would want to give up family time for office time TBH.

I'm contract in IB and do 9-5.30 with generous lunch break. Was working 9-8/9 regularly as a permie for half the money. When you are contracting you don't need to 'play the game' (AKA a$$ kissing) which it turns out takes up most of the time. Get in, write some good code, give some advice, get the wheel-barrow for the money, go home.

[nomadd]

There are lucrative, but i can imagine that they are also very demanding. Not sure I would want to give up family time for office time TBH.

I do 8 hours. I never do more - as these days they don't want to pay for it. I make this point very clear at the interview.

And I'm still in IB (and have been on-and-off since '95.)

If you manage the contract correctly, there is no reason why you should be spending long hours in the office.

[SajStars]

I have experienced a similar problem. Talking to the agencies, they seem to suggest the same that if you have experience in IB then getting a contract is much easier than not.

There are lucrative, but i can imagine that they are also very demanding. Not sure I would want to give up family time for office time TBH.

[nomadd]

...Evanescence at the Apollo, Green Day, Foo Fighters. Whatever!

Life is what you make it.

But that was Talk-Talk. Great 80s song.

[Scrag Meister]

I spent several years contracting at an IB in the City, and yes it's a good laugh and being in the City is great, the women are plentiful and pubs are everywhere and always heaving, and the money is good, but apart from that it's just rubbish.

WCMS

I love being up in London, I admit when I was growing up in Devon, it was something that I could never see myself doing with it being so busy.

But you just have to see the day job as something to facilitate your main life. Be that going out, travelling and holidays, driving flash cars, fast bikes, trying every restaurant in London, whatever tickles your fancy.

I don't like commuting but that doesn't fuss me when I'm relaxing in my home in London, or travelling to my other place in Devon or just sitting across a table from my wife putting the world to rights in some nice eatery, going to a free ice sculpture exhibition, seeing Evanescence at the Apollo, Green Day, Foo Fighters. Whatever!

Life is what you make it.

[centurian]

I spent several years contracting at an IB in the City, and yes it's a good laugh and being in the City is great, the women are plentiful and pubs are everywhere and always heaving, and the money is good, but apart from that it's just rubbish.

Sounds a bit like "What have the Romans ever done for us."

[ChimpMaster]

I would like to work in a investment bank as well but now is really a wrong moment, my wife that is working there told me
that hiring is almost frozen, probably next June the situation is going to get better but who knows?
Obviously for a first time contractor in banking without banking experience I think it's very unlikely to enter now.

I spent several years contracting at an IB in the City, and yes it's a good laugh and being in the City is great, the women are plentiful and pubs are everywhere and always heaving, and the money is good, but apart from that it's just rubbish.

[Fra]

I would like to work in a investment bank as well but now is really a wrong moment, my wife that is working there told me
that hiring is almost frozen, probably next June the situation is going to get better but who knows?
Obviously for a first time contractor in banking without banking experience I think it's very unlikely to enter now.

[Notascooby]

I also like Benidorm and Coronation Street :-(

Let this be a warning to anyone wanting to work in IB!

[oliverson]

or are stupid enough to watch the apprentice.

I also like Benidorm and Coronation Street :-(

[eek]

Many downsides but it can be quite addictive too and when you're watching The Apprentice on the TV you can impress your missus by pointing out all the places you've worked. Well, you can if you're shallow like me!

or are stupid enough to watch the apprentice.

[oliverson]

I'm a Senior/Analyst .Net Developer with 7 years experience (mainly in web), of which I've been contracting for the last 2 in the north west of the country. I'm looking to relocate to London (for the money mainly), and I've noticed that the vast majority of the better paying contracts are all within the Investment Banking sector. I've read some horror stories on here about what it's like working in that area, but I still masochistically want to go ahead anyway!

I find myself in the catch 22 situation that all of the roles want previous IB experience, yet it is impossible to gain any if they will not consider contractors new to the sector. From reading the job descriptions, and from previous experience of other contracts, I have absolutely no doubt that I could do the work with one hand tied behind my back. I do very well in face to face interviews and am confident I could convince a client to give me a shot, yet the problem lies in convincing a recruiter to put me forward for a role in which they believe there is a danger the client will knock me back immediately, reflecting badly on the agent.

Does anyone with any experience of this situation have any advice on the matter? I'd be very grateful to hear the thoughts of those with more knowledge of it than I.

Cheers
Hoodlum

It's like I could have written this post back in 2007. I even went to the extremes of embarking on a qualification but when I started studying the stuff is bored the living tulip out of me. I can of just fell into it really as my previous clients were retail banks. I figure I just slipt through the net or they thought I was 'kind of' like them!

I share the sentiments of some of the other posters on here in that all that glitters is not gold. It is expensive down here and some of the people you'd like to kick the tulip out of, and hours are long sometimes, the interview process can be gruelling, there are no golf driving ranges in London, etc, etc. Many downsides but it can be quite addictive too and when you're watching The Apprentice on the TV you can impress your missus by pointing out all the places you've worked. Well, you can if you're shallow like me!

[Notascooby]

There's a few asset manger types in Edinburgh employing your skill-set. If you fancy breaking in then this could be an oppertunity before moving down south.