IB Enforced Leave

[ELBBUBKUNPS]

Enforced leave is good for MOO in respect of IR35 its good, just keep the emails the client sends out saying 'due to business reasons ALL contractors are required to have x days off, this does not apply to permy staff'.

On a side note there was another jumper this afternoon at Coq d'argent right next to bank tube, 2nd in a month now, 4 or 5th in five years, the owners should sort it out and make it so you can't jump, even half p*ssed up there Ive not felt safe, so if you wanna jump its pretty easy.

[kaiser78]

I have been given enforced leave from mid-Dec to Jan. I am happy with this, as it means I am not having to request time off with the risk of it being turned down for project reasons.

[BrilloPad]

IBs are struggling now - pleased I got out. I daren't read hereisthecitynews anymore.

[aceboy]

I take 6-7 weeks holiday a year, I would take more if I could get away with it.... life is too short to work work work

[BlasterBates]

It's bad in the IB's. Your friend unfortunately came after the party was over. All the vodka bottles are empty and everyone has a stinking hangover.

There have been repeated rate and contractor cuts. Still if he's prepared to put up with the financial hit and he finds it interesting should be OK. Just don't expect megabucks. It's still reasonably well paid compared to most sectors.

[ChimpMaster]

4 weeks sounds a bit harsh. However enforced leave is usually a good sign as it means they want to keep you and are allowing you time off while they cut costs. Rate cuts in my experience mean they are screwing you and intend to get rid of you anyway.

This sounds about right from what I have experienced.

I would also add that IBs are nothing like what they might have been a few years ago - it's a dire working environment and everything possible is being offshored. As a contractor you are seen as an expensive commodity and not one to be respected... or at least that's my impression!

[Hot Mess]

4 weeks sounds a bit harsh. However enforced leave is usually a good sign as it means they want to keep you and are allowing you time off while they cut costs. Rate cuts in my experience mean they are screwing you and intend to get rid of you anyway.

Or they just want to get rid of you, and not openly advertise the fact. It simply implies that what you're doing isn't very important, so pack up your stuff before you go

[BigTime]

4 weeks sounds a bit harsh. However enforced leave is usually a good sign as it means they want to keep you and are allowing you time off while they cut costs. Rate cuts in my experience mean they are screwing you and intend to get rid of you anyway.

[Scrag Meister]

I've been working in finance for over 5 years and have had a couple of rate cuts but no enforced leave, I suppose it equates to the same thing, I cost them less.

[gruntling]

Well I've been contracting for eight years and never had it before so I guess it's a particular joy of working in the financial sector!

I guess those higher rates never work out quite as high as they first appear!

[cojak]

IB Enforced Leave

All part and parcel of being a contractor I'm afraid.

[gruntling]

So my friend was all excited about his first break into an IB and generally it's pretty cool.

But they said last week two weeks enforced leave which has doubled this week to four!

Grrrrr. How usual is this? Are things going tits up? Are others getting rate cuts or enforced leave?