Banking contracts, how much experience needed?

[MmarcoM]

hi all,
pls dont flame me just cos i am not (yet) a contractor..
few months ago i resigned to my permie job because i wanted to go contracting... got some offers, and then came along a bank with a permie job..
as i don't have financial experience, i thought that landing a job with a bank (even if it is permie) would be useful for the futer as it gives me banking experience...
job is good and i like it, but i havent given up the idea of being a contractor in the future....
i guess many of you contractors here contract for banks.. and i was wondering how many years of banking experience are needed in order to land contract jobs.. as many contracts in finance don't even consider you if you don't have financial experience.

thanx to anyone for their suggestion
regards
marco

[Sockpuppet]

Bestbet dont leave your current job to look. Look while you are there and get a contract that way.

A couple of months may not cut it. I dont know as I dont work in a bank but hey.

[MmarcoM]

Hi Sockpuppet,
thanks for your reply...

no i don't plan to leave my current job.. but thing is that , as i have realized when i left my prev job, for contracts they want you to be ready yesterday... and having a month notice to give will cut me out of many possibilites..

thanks for your feedback and regards
Marco

[ChimpMaster]

I would say give it a year at least, 2 if you are patient. Ideally learn the business side of whatever you want to contract in, as well as retaining a technical expertise in the skillset that you want to sell yourself on. I take it your skillset is in demand at banks.

As sock says, don't leave ur job to look for a contract. Keep your eyes open and if one comes along then go for it, after all being in contract at a bank is still relevant experience.

Regarding the month notice, yes this is a problem but if you are good enough then they will wait. That's how I got my first contract. But it is unusual but it can be done.

You've done the right thing so far. Don't rush it and it'll all work out.

[BlasterBates]

no that isn´t true, a month´s notice is not usually a hindrance. Three months would be. However you are fairly inexperienced (two months) I can´t see you easily getting a contract, unless your technical skills are really excellent, usually 5 years development experience is enough. In depth knowledge of banking is a great help as it will open up more possibilities. Admin, and support don´t rarely require banking knowledge, but many C++/Java development jobs do. There are some contracts for less experienced people, usually requiring 2 years experience, but not many. Your best bet is stay permie until you have built up experience, and feel confident.

[BA to the Stars]

Hi MmarcoM

I worked for a high street bank for 20+ years, the last 7 in Head Office on projects. Use it to gain as much experience as you can. Having a bank on your CV will do no harm at all so as has been said above, give it a couple of years to gain the experience (after all, a recruiter looking at your application with only 6 months at the Bank in the permie role may think was he sacked). He may not want to progress further to interview stage so if you have a couple of years showing, this isn't as likely to raise any pre-conceptions.

Hope this helps

[Ivor1]

I think a lot depends on the technical skill set they require and the business area, all my clients over the last 10 years have been IB ching ching. Most of them would over look no IB experience if the person has the skill they need. Its not impossible to get a IB role with no IB experience, might take longer though as you will be going up against people who do have IB experience