Contracting Rates in the City

[NickFitz]

Not all are suffering, im paid very well by my Hedge Fund client who is regarded universally by analysts/media to have managed itself very well and will benefit from the closures of others

Hubris, meet Nemesis

[Stan.goodvibes]

I coined it in the City from '96 to 2001, left just before it went to custard. I was rather hoping to do the same again next year in the City, but might have to see what happens.

I'm pretty sure that the truism that the City pays better than anywhere else in the UK will hold true, its just how many jobs there are going to be in the short to medium term.

What goes around comes around - the economy boomed with the availability of cheap credit - now its into recession largely because credit is getting tight. One day it'll swing back to cheap credit again, hopefully cheap credit thats based on a lot more substance than ninja mortgages and dodgy financial 'instruments'.

I still think that the City will maintain its status as a world-leading financial centre - especially with the US$ and Euro looking like they might suffer a credibility problem from this particular crunch.

Bring on the new British Empire...

[BlasterBates]

Not all are suffering, im paid very well by my Hedge Fund client who is regarded universally by analysts/media to have managed itself very well and will benefit from the closures of others

You didn't happen to see some traders hitting their phones on their desks yesterday?

[EternalOptimist]

Sounds similar to me, except that I came to London from Greater London. Oh and I'm not late 30s, don't have 10+ years contracting experience and I haven't actually got retirement in view yet.

But I get your point.

but you have to admit, you are very average

[ChimpMaster]

I work with a couple of late 30s long term contractors (10+ yrs) who have just come to Oz from London.

They are both planning on retiring in the next couple of years ... from the coin they've earned programming in the City.

You can't knock it. A lot of average bods have done very well out of it.

Sounds similar to me, except that I came to London from Greater London. Oh and I'm not late 30s, don't have 10+ years contracting experience and I haven't actually got retirement in view yet.

But I get your point.

[YHB]

I was wondering about moving from my low paid job to an exciting City bank or hedge fund, but I'm not sure that I could afford the rate cut.

Not all are suffering, im paid very well by my Hedge Fund client who is regarded universally by analysts/media to have managed itself very well and will benefit from the closures of others

[Xenophon]

This implies you understood 'scence'. Please explain

Heh.

Yeah - highlight that word too!

[sasguru]

Demand, rates and salaries have gone up for certain skills at the top level e.g. credit risk analysis

[oracleslave]

What the CUK does that mean?

This implies you understood 'scence'. Please explain

[Xenophon]

theres a heck of alot of behind the scence stuff going on right in around skills import and towing the line etc.

What the CUK does that mean?

[Liability]

Give it 5 years and it will be business as usual.....

Id say less than that - theres a heck of alot of behind the scence stuff going on right in around skills import and towing the line etc. which is good I guess

[BrilloPad]

I was wondering about moving from my low paid job to an exciting City bank or hedge fund, but I'm not sure that I could afford the rate cut.

Give it 5 years and it will be business as usual.....

[aussielong]

I was wondering about moving from my low paid job to an exciting City bank or hedge fund, but I'm not sure that I could afford the rate cut.

I work with a couple of late 30s long term contractors (10+ yrs) who have just come to Oz from London.

They are both planning on retiring in the next couple of years ... from the coin they've earned programming in the City.

You can't knock it. A lot of average bods have done very well out of it.

[BlasterBates]

I was wondering about moving from my low paid job to an exciting City bank or hedge fund, but I'm not sure that I could afford the rate cut.