Reply to: Am I Mad?

[nomadd]

Alongside my more normal question in the contract forum I want to ask more generally if I have taken leave of my senses...

I have spent the last ten years being permie and always thought about contracting but always shied away.

I really haven't enjoyed my last couple of permie jobs and am currently stuck with a long notice period.

I've done a reasonable amount of research about the various pros and cons and what I need to do and am feeling pretty close to deciding I want to give contracting a go. I have the skills to find a contract and am willing to travel if I need to.

I however need to put in my notice, wind down the clock a bit and look nearer the time.

Although I feel like I've done (most of) my due diligence and that everything should work out fine I can't shake the feeling that I'm being massively reckless and irresponsible! Quitting with nothing to go to. Madness!

I'm not sure there's a rational argument to convince me on this front but I'm looking for some reassurance from anyone who's been in a similar situation and made the transition.

Are you sure you are cut out for the world of contracting..? *

(* You do not need to respond; this is a stock question. Further questions surrounding Gladiators and Radiators will follow. And then a poll about your chances of survival.)

[independancerocks]

Three months is definitely too long. If you get an offer or two ( for roles you are unlikely to take) your confidence will rocket and your question will be answered allowing you to resign. Just make sure you have some survival funding and the resolve to work full time looking for your first role.
Also, spend the time changing your cv to a contract style cv highlighting immediately available skills and recent example achievements over employee stability. It's a subtle but huge difference to show you can come in and add value on the nail on day one. Ask for feedback from some agents. They aren't always right about what's good but they will point out the bad and give you an indication of being in the right ballpark....
So give all this a go while still comfy and employed...you can't go wrong! ( with a little embedded fibbing to catalyze the interview process! )

[suityou01]

Why is this hard? You interview for contracts, tell them 2 weeks notice or summat.

Then if you score one, you tell permie gig you are on long term sick and take the contract. Simples.

[Chervil]

What you could do is try for a couple of contracts somewhere you don't want, tell them you're imediately available and see how far you get. If it looks like your getting somewhere throw in your notice and go after good contracts where you want to work, and perhaps turn down the other contracts.

The trouble is you need to test the market, talking to agents is not really enought.

Barcap and RBS have just pushed through 10% cuts, so the London IB market isn't exactly booming, if that's where your targeting. There does seem to be good opportunities outside of that though, perhaps also in London.

I think the market is OK if you're prepared to travel. But if you do have travel costs and a mediocre rate, is it worth your while?

Testing the water might be a good idea. Thanks.

As far as London goes... There are a reasonable number of opportunities where I live so I might be able to get work here sometimes but I'm willing to go anywhere in the UK. London banks have always been appealing to me but I'm not wedded to the idea.

As you say it's about the rate though. Still working on the numbers to be sure I can likely afford to travel and still be well enough off.

Anyway, thanks to everyone for the advice. Even the 'just f-ing do it' and predictions of divorce

[KentPhilip]

We have posters that announce their loss of virginity at 40+ on an internet forum

Now hang on, I didn't say I was a virgin when I bonked that cleaner.

..Although I almost was

[BlasterBates]

What you could do is try for a couple of contracts somewhere you don't want, tell them you're imediately available and see how far you get. If it looks like your getting somewhere throw in your notice and go after good contracts where you want to work, and perhaps turn down the other contracts.

The trouble is you need to test the market, talking to agents is not really enought.

Barcap and RBS have just pushed through 10% cuts, so the London IB market isn't exactly booming, if that's where your targeting. There does seem to be good opportunities outside of that though, perhaps also in London.

I think the market is OK if you're prepared to travel. But if you do have travel costs and a mediocre rate, is it worth your while?

[administrator]

Aye, do it or don't do it. Best case scenario you land a contract quickly and never look back. Worst case scenario you don't find a contract for 12 months, your wife leaves you, your house is repossessed and you end up homeless. It will be an adventure either way

[cojak]

It's software development so there's likely plenty of useful things I can do given some time.

On the other comments above I have been looking around but 3 months is beyond impractical for looking for a contract. I have a good feel for the market now but it could change.

If I found someone willing to wait then great and I would try and negotiate my notice (I've always agreed compromise is good in these situations for all) but if I was offered something there'd be no guarantee I could get a shorter notice...

Then just put your notice in FFS. I did.

It's not complicated, is it?

[Chervil]

Any specific technology.. Before giving notice to the current employer, I would give few interviews to test the water.. Don't fall for number of adverts for your skills you see on job sites.

My background is in Java (middleware and web stuff) and I previously worked (for quite a few years) for a consultancy firm with big IB customers so the CV looks OK.

I'm guessing I'm going to have trouble getting any contract interviews with my notice unless I tell a few fibs...

I have spoken to a couple of agents recommended by friends and they say much the same thing. "Market quite good at the minute, shame about your notice". Not that you can really trust agents.

[raphal]

It's software development so there's likely plenty of useful things I can do given some time.

Any specific technology.. Before giving notice to the current employer, I would give few interviews to test the water.. Don't fall for number of adverts for your skills you see on job sites.

[northernladyuk]

We have posters that pretend they're international jetsetters.
We have posters that fly aircraft upside down with a plate of spaghetti on their lap.
We have posters that time travel.
We have posters that do double Iron Man events.
We have posters that post tens of thousands of posts in the counting thread.
We have posters that announce their loss of virginity at 40+ on an internet forum
We have posters who think they are a lizard
We have posters that are men pretending to be women, and (possibly) women pretending to be men.
We have posters that regularly talk to themselves.
We have posters that are convinced the end of the world is nigh.
We have posters with every mental disorder on the books and a few that haven't yet been named.

I reckon you sound pretty sane.

Ooooh! Hark at her!!!

[Scruff]

I lick lizards for a living. So can you...

[mudskipper]

We have posters that pretend they're international jetsetters.
We have posters that fly aircraft upside down with a plate of spaghetti on their lap.
We have posters that time travel.
We have posters that do double Iron Man events.
We have posters that post tens of thousands of posts in the counting thread.
We have posters that announce their loss of virginity at 40+ on an internet forum
We have posters who think they are a lizard
We have posters that are men pretending to be women, and (possibly) women pretending to be men.
We have posters that regularly talk to themselves.
We have posters that are convinced the end of the world is nigh.
We have posters with every mental disorder on the books and a few that haven't yet been named.

I reckon you sound pretty sane.

[suityou01]

[Chervil]

A long notice period gives you a long time to brush up, practise for tests, and generally polish yourself as much as possible.

What do you do?

It's software development so there's likely plenty of useful things I can do given some time.

On the other comments above I have been looking around but 3 months is beyond impractical for looking for a contract. I have a good feel for the market now but it could change.

If I found someone willing to wait then great and I would try and negotiate my notice (I've always agreed compromise is good in these situations for all) but if I was offered something there'd be no guarantee I could get a shorter notice...