IT contracting - hows the market?
Discussion
I know there are a few on here, so thought I'd ask the question in a 'friendly' location...
I've been looking for a first contract after about 12 years as a permie (Solution Architect - Infrastructure/EUC) for about 4 weeks, I've had my CV polished by not only peers, but my career councillor (just took VR, so company paid for 3 months) and even asked advice from a couple of recruitment consultants.
I'm applying on Jobserve, jobsite, technojobs IT jobs board, security cleared jobs and contract recruit, following up with phone calls and emails etc. Also had a few phone calls asking if I was interested in some contracts then it all goes quiet.
No interviews yet (except one I declined outside of the EU, mainly due to the tax issue once I had researched it).
Is the market a bit quiet at the moment (I am assuming so), when will it pick up?
Is it a slow burn that will suddenly all click into place?
Am I doing something wrong or missing a key source of contracts?
I've been looking for a first contract after about 12 years as a permie (Solution Architect - Infrastructure/EUC) for about 4 weeks, I've had my CV polished by not only peers, but my career councillor (just took VR, so company paid for 3 months) and even asked advice from a couple of recruitment consultants.
I'm applying on Jobserve, jobsite, technojobs IT jobs board, security cleared jobs and contract recruit, following up with phone calls and emails etc. Also had a few phone calls asking if I was interested in some contracts then it all goes quiet.
No interviews yet (except one I declined outside of the EU, mainly due to the tax issue once I had researched it).
Is the market a bit quiet at the moment (I am assuming so), when will it pick up?
Is it a slow burn that will suddenly all click into place?
Am I doing something wrong or missing a key source of contracts?
pherlopolus said:
I know there are a few on here, so thought I'd ask the question in a 'friendly' location...
I've been looking for a first contract after about 12 years as a permie (Solution Architect - Infrastructure/EUC) for about 4 weeks, I've had my CV polished by not only peers, but my career councillor (just took VR, so company paid for 3 months) and even asked advice from a couple of recruitment consultants.
I'm applying on Jobserve, jobsite, technojobs IT jobs board, security cleared jobs and contract recruit, following up with phone calls and emails etc. Also had a few phone calls asking if I was interested in some contracts then it all goes quiet.
No interviews yet (except one I declined outside of the EU, mainly due to the tax issue once I had researched it).
Is the market a bit quiet at the moment (I am assuming so), when will it pick up?
Is it a slow burn that will suddenly all click into place?
Am I doing something wrong or missing a key source of contracts?
This is the worst time of year to be looking for a contract. When I went contracting it was in a November. It took 3 months, but by the end of January I had two offers on the table, and other interviews lined up.I've been looking for a first contract after about 12 years as a permie (Solution Architect - Infrastructure/EUC) for about 4 weeks, I've had my CV polished by not only peers, but my career councillor (just took VR, so company paid for 3 months) and even asked advice from a couple of recruitment consultants.
I'm applying on Jobserve, jobsite, technojobs IT jobs board, security cleared jobs and contract recruit, following up with phone calls and emails etc. Also had a few phone calls asking if I was interested in some contracts then it all goes quiet.
No interviews yet (except one I declined outside of the EU, mainly due to the tax issue once I had researched it).
Is the market a bit quiet at the moment (I am assuming so), when will it pick up?
Is it a slow burn that will suddenly all click into place?
Am I doing something wrong or missing a key source of contracts?
December is dead.
As others have said, no one really recruits in December. You'll get a flurry in January, and then usually its quiet until April onwards, quiet again in August, and then lively in September.
Thats my experience as someone who recruits IT Contractors, and has worked closely with many for the last 10+ years.
Regarding is it quiet generally? not really. Its the busiest it's been for a long time - I've not refreshed or 'bumped' my CV in about 9 months, and I still get contacted several times a week asking if I'm interested in a role.
Hope this helps.
Thats my experience as someone who recruits IT Contractors, and has worked closely with many for the last 10+ years.
Regarding is it quiet generally? not really. Its the busiest it's been for a long time - I've not refreshed or 'bumped' my CV in about 9 months, and I still get contacted several times a week asking if I'm interested in a role.
Hope this helps.
I have been looking for a contract PM role in the Thames Valley/London since the start of October and things are definitely slow at the moment. I have had a similar experience to you, lots of interest, lots of phone-calls etc but nothing has converted to a contract (yet).
There is work out there but I would either need to stay away from home (done that for the last 8 years, want my next contract to allow me to sleep in my own bed at night), or the day rates are extremely low to the point where I would be better off going back to a permy role.
Pharma, retail, and finance seem to have a bit of movement but are all demanding very specific skills and experience - sadly none of which I seem to have! If you look at jobserve/monster/jobsite etc things don't look too bad on the face of it, however the same ad's keep appearing every week or so, stay up for a day then vanish, which is a sign of recruitment agencies 'harvesting' CV's.
What I find more worrying is in the past I have always managed to find work through my network of contacts, this time I have drawn a blank and a lot of my permy friends/contacts seem slightly concerned about how things will shake out in the New Year...
For the time being, get on with the decorating because trying to take the temperature of the job/contract market in December is pointless, everyone has tinsel, shopping and Christmas doo's between their ears!!
There is work out there but I would either need to stay away from home (done that for the last 8 years, want my next contract to allow me to sleep in my own bed at night), or the day rates are extremely low to the point where I would be better off going back to a permy role.
Pharma, retail, and finance seem to have a bit of movement but are all demanding very specific skills and experience - sadly none of which I seem to have! If you look at jobserve/monster/jobsite etc things don't look too bad on the face of it, however the same ad's keep appearing every week or so, stay up for a day then vanish, which is a sign of recruitment agencies 'harvesting' CV's.
What I find more worrying is in the past I have always managed to find work through my network of contacts, this time I have drawn a blank and a lot of my permy friends/contacts seem slightly concerned about how things will shake out in the New Year...
For the time being, get on with the decorating because trying to take the temperature of the job/contract market in December is pointless, everyone has tinsel, shopping and Christmas doo's between their ears!!
I'm contracting with a similar skillset and also live in your part of the world OP...
The market is reasonably good for strong infrastructure and EUC techies and architects compared to IT as a whole... however geographically we are disadvantaged... I have been working in the City full time for the last few years and very rarely see anything much nearer home which takes my interest.
The market is reasonably good for strong infrastructure and EUC techies and architects compared to IT as a whole... however geographically we are disadvantaged... I have been working in the City full time for the last few years and very rarely see anything much nearer home which takes my interest.
pherlopolus said:
Thanks, time to get on with the domestic jobs while I have chance then!
Still keep applying though. The contract I took in January was initially advertised late the November. Once you get into the first week of December then there is very little chance of starting during December, but its quite possible that a bunch of projects will kick off in the new year.Also apply for everything that looks close to what you do. I'm just coming to the end of my second contract, and neither looked like perfect jobs for me. One of them was advertised by multiple agencies for quite a while before I applied.
When things do happen, they happen quickly. Be prepared to interview on a Friday for a Monday start. Its not normally that bad, but I wouldn't bank on more than a week. The first two things a recruiter will ask you are how much you want, and when can you start
I saw the workings from both sides, and on a £500 day contract it costs about £50 a day more than the equivalent Permie does a company, and thats without redundancy etc when the project ends.
500 a day has to cover pensions, hotels, mileage, accountancy, time off when you dont have a contract or when you are sick or when you want a holiday.
Don't forget your £500 a day contractor probably has skills worth about 80-90k + bens in permie world.
I'm not saying it isn't a lot of money, but not a significant difference to permie, but you do get more control...
500 a day has to cover pensions, hotels, mileage, accountancy, time off when you dont have a contract or when you are sick or when you want a holiday.
Don't forget your £500 a day contractor probably has skills worth about 80-90k + bens in permie world.
I'm not saying it isn't a lot of money, but not a significant difference to permie, but you do get more control...
Ynox said:
Remember that's not your take home either! Too many people see the headline rates and think people are coining it in.
Not Sure if Serious?45 weeks a year at £500 a day would be £112,500.
£100 day expenses and you're still talking £90,000.
A contractor will not be PAYE, but will take the bulk at 20% dividends quarterly, so that £90K is probably as good as £110K if you were PAYE.
pherlopolus said:
I saw the workings from both sides, and on a £500 day contract it costs about £50 a day more than the equivalent Permie does a company, and thats without redundancy etc when the project ends.
500 a day has to cover pensions, hotels, mileage, accountancy, time off when you dont have a contract or when you are sick or when you want a holiday.
Don't forget your £500 a day contractor probably has skills worth about 80-90k + bens in permie world.
I'm not saying it isn't a lot of money, but not a significant difference to permie, but you do get more control...
You're probably not a million miles away there with those figures. 500 a day has to cover pensions, hotels, mileage, accountancy, time off when you dont have a contract or when you are sick or when you want a holiday.
Don't forget your £500 a day contractor probably has skills worth about 80-90k + bens in permie world.
I'm not saying it isn't a lot of money, but not a significant difference to permie, but you do get more control...
Its why relatively speaking so few go contracting. Theres a very comfortable living to be had in IT if you have right skills, so "not worth the hassle" to a lot of people.
I guess how many would make the £500 a day very lucrative for them would be by not living in London but staying there during the week and off setting all expenses against tax. Also, contractors wont be PAYE so they'll be keeping a lot more of their rate than you or i would as a salary.
Edited by daemon on Sunday 30th November 10:45
I am getting back into it primarily for the ability to control when I work.
I know its unlikely to happen, but the chance of being able to have the whole of school summer holidays off without using up all my allowed holiday is appealing.
Last time I was contracting I got to work in some very interesting locations and met some fascinating people, which just wouldn't have happened as a permie!
I know its unlikely to happen, but the chance of being able to have the whole of school summer holidays off without using up all my allowed holiday is appealing.
Last time I was contracting I got to work in some very interesting locations and met some fascinating people, which just wouldn't have happened as a permie!
daemon said:
Ynox said:
Remember that's not your take home either! Too many people see the headline rates and think people are coining it in.
Not Sure if Serious?45 weeks a year at £500 a day would be £112,500.
£100 day expenses and you're still talking £90,000.
A contractor will not be PAYE, but will take the bulk at 20% dividends quarterly, so that £90K is probably as good as £110K if you were PAYE.
Personally I gross about 30% more as a contractor, after all benefits are taken into account. Thats without any time out of contract.
98elise said:
Dividends get taxed at high rate just like salary. All you save is the NI.
Personally I gross about 30% more as a contractor, after all benefits are taken into account. Thats without any time out of contract.
Another way to quantify it. I've been contracting for about 20 years and now as each invoice gets paid I tuck away the VAT and 30% of the non-vat value to cover my taxes and general company costs.Personally I gross about 30% more as a contractor, after all benefits are taken into account. Thats without any time out of contract.
That doesn't pay for holidays, sick, time between contracts, pension etc..., but the 70% is mine to spend/save as I will. I just have to be careful to make sure I tuck away into a saving pot for rainy out of work days and pension.
Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff