New Contractor - Help needed please!

[northernladuk]

Just to correct, £500 is average for FS PM - high would be £700+ but the point you are making comes across.

and to add the higher end can be commanded by experienced contractors with decades of experience, not a new guy.

OP - even though you are a permie PM you could try looking for contract project support roles to get your foot in the door and then chase the fully fledged contractor PM big bucks in your second or third+ contract.

This is just fundamentally wrong and am surprised at it. For a start you only get roles that you are skilled at and can demonstrate. Just because a PM is perceived to be a higher position than a PMO (or support) does not mean you can do it well. Different skill set and competencies. Secondly you are only as good as your last contract. We do not have a career ladder. If your last role is a PMO you have no evidence that you can deliver as a PM for the next role so will get passed over. Clients don't take on 'good guys' or chancers. There is another thread running right now about a guy who has let his skill set slip and can't get out of it.

To the OP, the challenges I see you have are...

New to contracting - You are a massive risk against contractors with decades of contracting experience
Experience - 6 years isn't a huge amount, people have been contracting that long let alone the rest of their career
General Market - Contracting is a bit pants at the moment due to the constant influx of newbies
Your market - You have to get what work you can, just looking at finance and ignoring the other verticles is seriously narrowing your choice. It helps being in finance to get a finance gig yes but looking at 60% of a quiet PM market will always be difficult.
Your notice period - This will hurt. Not many client will wait 4 weeks and when they do the gig can disappear in an instant while waiting. You have to be available to interview Wednesday and start Monday (few days for contract checks etc). There are plenty of guys on the bench at the moment.

You are looking at a tough market at a tough time from a tough position so gonna have to get lucky and put the legwork in I am afraid.

Ask yourself an important question as well... If you find a gig, hand notice in and it evaporates before you start how long can you survive on the bench... anything less than 3-6 months in your position I would be sweating....

[kaiser78]

PM in Financial Services on £350 a day...? You start high - say £500 - and negotiate down, especially in FS which is something of a closed shop anyway.

Just to correct, £500 is average for FS PM - high would be £700+ but the point you are making comes across.

OP - even though you are a permie PM you could try looking for contract project support roles to get your foot in the door and then chase the fully fledged contractor PM big bucks in your second or third+ contract.

And never quote your expected / required rate to an agent.

Good luck.

[malvolio]

Hi all,

I'm hoping to get some help on here if possible. I am currently in a permanent role and am looking to move into contracting as a Project Manager. I have a 4 week notice period.

I have been looking and applying for job roles for the last 6 weeks or so, and have had a few calls from agents but no interviews. Before I started applying for roles, I amended my CV so that it fitted into a more 'Contractor like' role (as advised on Contractor Calculator - Killer CV tips), so I hoped this would help with my search.

I have over 10 years experience in Financial Services and the last 6 years as a Project Manager and I'm also PRINCE2 certified. I follow up every application with a call to the agent the next day to ensure they have received my CV and if they feel I would be a good fit for the role. When asked, I have told them my daily rate would be £350+.

Please can anyone advise if I'm going about this the wrong way? Should I be attacking this differently?

Thanks in advance for any help you can give!

James

PM in Financial Services on £350 a day...? You start high - say £500 - and negotiate down, especially in FS which is something of a closed shop anyway.

Other than that, contractors start tomorrow if possible, not in four weeks time, you have no history as a contractor and while there are lots of jobs out there (especially in FS which is having a bit of a boom at the moment) there are also lots of contract PMs out there (mostly rubbish, but the agencies don't know which is which) so the hit rate is going to be low. Your CV has to be totally focussed on what you've actually done, not what you can do (PRINCE2? whoop-di-do...) and it has highlight the specific skills in the job ad: if they want CRM in retail banking and you've only ever done it in investments, you won't be considered; the agencies genuinely are that stupid, and the clients even more so.

So welcome to our world. The only hard part about contracting is finding the work.

[JamesS051]

Hi all,

I'm hoping to get some help on here if possible. I am currently in a permanent role and am looking to move into contracting as a Project Manager. I have a 4 week notice period.

I have been looking and applying for job roles for the last 6 weeks or so, and have had a few calls from agents but no interviews. Before I started applying for roles, I amended my CV so that it fitted into a more 'Contractor like' role (as advised on Contractor Calculator - Killer CV tips), so I hoped this would help with my search.

I have over 10 years experience in Financial Services and the last 6 years as a Project Manager and I'm also PRINCE2 certified. I follow up every application with a call to the agent the next day to ensure they have received my CV and if they feel I would be a good fit for the role. When asked, I have told them my daily rate would be £350+.

Please can anyone advise if I'm going about this the wrong way? Should I be attacking this differently?

Thanks in advance for any help you can give!

James