• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

hello guys! Interested in becoming a contractor in IB! need advice please

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    hello guys! Interested in becoming a contractor in IB! need advice please

    Hello all,

    Im knew to this forum and joined mainly because it looked interesting and usefull and had some good guides on it. But to the point, I am starting university at either Warwick or Nottingham to do computer science (or computer and business at warwick) in September, I know it is early but is there anything i should know going in to uni which could help me get into IT contracting within Investment banking, apart from the culture (which i actually like the sound of!) is there anything about this career area that i should know? thank-you all.

    #2
    How old are you and what industry experience do you have currently?

    If you are young and have none you are on a hiding to no where trying to get straight in to contracting. You will have absolutely no experience of even working let alone being a specialist in your field. You need to at least get some work experience first before you think about contracting. We do not get coaching, training, mentoring or anything. Clients will not pay anyone to get experience in work.

    If you are an older head and have just taken a break to take the degree you are still on a very tough path. You still have no experience in your field and a degree is pretty worthless when it comes to being an asset to a company in anyway.

    A further problem is your narrow vision of what you want. IB's are notoriously difficult to get in to, always asking for previous experience and run a very closed shop. Even experienced contractors don't try and focus on one industry and target that. We tend to go where the work is. If you have IB experience you could be there for a very long time granted but to be blinkered in to looking for IB work only you are going to spend a very very long time on the bench turning down a lot of good contracts.

    Either way I would say your first job is to understanding contracting a little better rather than just hearing stories of big bucks. Understand what you need to be to be a contractor, understand why companies need us and what they want from us. Forget the pie in the sky money, learn what a bench is and take a huuuge dose of reality.

    You have your work seriously cut out for you I am afraid and IMO contracting is not the way to go.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

    Comment


      #3
      Interesting thread going on that might also be a useful read...

      http://forums.contractoruk.com/gener...ably-wont.html
      'CUK forum personality of 2011 - Winner - Yes really!!!!

      Comment


        #4
        Originally posted by northernladuk View Post
        How old are you and what industry experience do you have currently?

        If you are young and have none you are on a hiding to no where trying to get straight in to contracting. You will have absolutely no experience of even working let alone being a specialist in your field. You need to at least get some work experience first before you think about contracting. We do not get coaching, training, mentoring or anything. Clients will not pay anyone to get experience in work.

        If you are an older head and have just taken a break to take the degree you are still on a very tough path. You still have no experience in your field and a degree is pretty worthless when it comes to being an asset to a company in anyway.

        A further problem is your narrow vision of what you want. IB's are notoriously difficult to get in to, always asking for previous experience and run a very closed shop. Even experienced contractors don't try and focus on one industry and target that. We tend to go where the work is. If you have IB experience you could be there for a very long time granted but to be blinkered in to looking for IB work only you are going to spend a very very long time on the bench turning down a lot of good contracts.

        Either way I would say your first job is to understanding contracting a little better rather than just hearing stories of big bucks. Understand what you need to be to be a contractor, understand why companies need us and what they want from us. Forget the pie in the sky money, learn what a bench is and take a huuuge dose of reality.

        You have your work seriously cut out for you I am afraid and IMO contracting is not the way to go.
        Ah thanks for the advice, im an 18 year old kid with no experience! But during uni i can get a year in industry potentially at an investment bank, and i can also spend my second year in Malaysia (do not know if that makes any difference). I had a feeling that my vision was too narrow, im also interested in SAP and Java contracting. Is there any more specific advice you could give me, such as the sort of experience i would need to start, or whether or not it is necassary to start as a permie? From what I've read, contracting seems a lot like my sort of lifestyle!

        Comment


          #5
          Originally posted by Alfie1993 View Post
          Ah thanks for the advice, im an 18 year old kid with no experience! But during uni i can get a year in industry potentially at an investment bank, and i can also spend my second year in Malaysia (do not know if that makes any difference). I had a feeling that my vision was too narrow, im also interested in SAP and Java contracting. Is there any more specific advice you could give me, such as the sort of experience i would need to start, or whether or not it is necassary to start as a permie? From what I've read, contracting seems a lot like my sort of lifestyle!
          Very early to decide, but ideally getting a placement within an IB would be ideal. Set that as your goal and let your course tutors know. But of course be flexible.

          Also as you're just starting there will be plenty of other opportunities.

          Don't even think 'contracting' now. In fact, don't even mention it. You'll need to get some experience under your belt first and then a few years out you can decide. But a good placement will get you in for when you graduate.

          You don't need a degree to contract. To fair some posters on here cannot even spell degree and dragged themselves into contracting because they couldn't get jobs in McDonalds, some others have three degrees which again can help a little but is more of a conversation starter when people realise he'd managed the band.
          What happens in General, stays in General.
          You know what they say about assumptions!

          Comment


            #6
            Originally posted by MarillionFan View Post
            But a good placement will get you in for when you graduate.
            Definitely. Get in there, work hard make contacts, get Linked-In with them. Sometimes it's not what you know, it's who you know especially at that level. Actually, at any level contacts can be priceless.
            Free advice and opinions - refunds are available if you are not 100% satisfied.

            Comment


              #7
              Welcome Alfie1993

              You need a pretty thick skin to be a contractor (almost as thick as you need to post on here). You do get treated like a commodity (which we are) and people will be rude to you on a egular basis, so you'd need to be ready for that.
              If I were you, I'd
              a) plan on enjoying myself at Uni (Warwick is a laugh)
              b) when you get your degree think about getting in to a consultancy firm. It's quite brutal but it'll prepare you for contracting, and with the benefit of a regular salary
              c) invent the next Facebook and feck 'em all
              d) develop a very flexible mindset

              Now - where is the bar and where have you hidden the nibbles?

              Good luck!
              +50 Xeno Geek Points
              Come back Toolpusher, scotspine, Voodooflux. Pogle
              As for the rest of you - DILLIGAF

              Purveyor of fine quality smut since 2005

              CUK Olympic University Challenge Champions 2010/2012

              Comment


                #8
                Thankyou zippy! Joining a consultancy firm after uni sounds like quality advice! Warwick would be a laugh but only around 40% I've made the grades, so Nottingham seems more likely.

                Also Im aware that ill need to be pretty tough, but thats no problem because i have an extremely strong character and thick skin anyway, dont mean to toot my own horn though haha!

                Thanks again bud!

                Comment


                  #9
                  Originally posted by Wanderer View Post
                  Definitely. Get in there, work hard make contacts, get Linked-In with them. Sometimes it's not what you know, it's who you know especially at that level. Actually, at any level contacts can be priceless.
                  Thankyou! Im aware of the need to build up a network of contacts, How do I do this exactly? Do i just make conversation with everyone then trade information at the end?

                  Comment


                    #10
                    Originally posted by Wanderer View Post
                    Definitely. Get in there, work hard make contacts, get Linked-In with them. Sometimes it's not what you know, it's who you know especially at that level. Actually, at any level contacts can be priceless.
                    Personally I think Linked In is a waste of time on the whole. Assuming I am wrong (again) and it did work for the masses it would tend to only work for people to share experience and keep in touch with other useful people. Unless you have anything to give the other people you are linking to it wouldn't really work either. There are better things to waste your time on.
                    'CUK forum personality of 2011 - Winner - Yes really!!!!

                    Comment

                    Working...
                    X