State of the Market

[suityou01]

IR35 mentioned on LBC

Just a quick heads up as I think anything that raises awareness of IR35 to the wider public is a good thing, as ultimately it will affect them in many different ways.

Nigel Farage just mentioned IR35 on LBC. He mentioned it in the context of "Normal people just trying to get on with their lives" and not being able to with the systems of government we currently have.

If you put aside your natural prejudices for Nigel, and just look at it for what it is, the term being discussed on popular radio phone ins, then I see this as a net positive.

Just passing on.

[LondonManc]

I deal you another card in this game: Lloyds Banking Group or rather HBOS / BOS with contractors approaching 5 years in the same place.

I'm so glad that I left investment banking behind several years ago, when it is Mr. Dodd and Mrs. Frank and the rubbishy XML Schema reporting tulip ...

I ditched Lloyds when they declared that Excel was a perfectly valid reporting tool.

[LordAsriel]

An agile coach within my network just secured a new outside gig in Bristol on an SOW based engagement. I've also seen signs on LinkedIn and other mediums of more outside roles cropping up, although still far less than inside roles.

[edison]

How the interim market works

I wish I could get an interim director role myself . Where do CEO /companies go hunting for interim? What website do they use?

Disclaimer: I had someone come to me a few times in as many months about Chief Technology Officer role (permanent) and speculatively about a new startup "be employee number 3 and even become CTO" - none of them were appropriate really. The last one about becoming CTO contract to permanent seem to me like recruiter tulip.

They don't. If they are any good people a companies find them. Those that aren't good enough to be found have to ask questions on anonymous forums..

That isn't strictly true NLUK. Companies definitely don't go directly looking for interims, they approach agencies just like other for contract staff.

Interim providers develop their own network over many years and it's difficult for you to get on their radar unless you really are exceptional due to experience and skills and fit the bill exactly for the client. If you've got what it takes to be an interim IT Director or CIO then you would probably already be on the radar of these specialists. Some firms I've dealt with include Marlin Hawk, Eton Bridge, Savannah, BIE Executive, Boyden, Hoggett Bowers, Odgers. These are firms that most people on CUK will either have never heard of or unlikely to come across.

The difference compared to typical contracting is that the interim market (typically £800/day upwards) is very specialised and a large proportion of roles are never advertised. Some agencies use online portals to augment their search but I know several who never ever advertise roles. Often this is due to a very urgent need - e.g. IT Director has resigned, been fired or left to join a competitor and so the hire is sensitive.

Many of the top firms will also interview you personally (usually you will need to be recommended) and take up references. Some will also do psychometric testing. This is all before they even consider discussing potential roles with you.

If you fancy chancing your arm, a good starting point is the Institute of Interim Management who produce an annual survey of the top 75 interim providers (not just in IT.)

Leading interim service providers - Institute of Interim Management

Some of the well known recruiters who handle contract staff also do interim work but this is normally at the lower end of the market (less than £1,000/day) - people like Harvey Nash, Hays, Michael Page etc. Just like other contract roles, there are several sub-markets, the main ones being not for profit/public sector, financial services and all other commercial.

Finally, it's been a very tough interim market in the last year, just like the wider market. I know lots of experienced IT Directors and CIOs who have had extended bench time.

[edison]

Finding and interim Director/CTO role is a cake, just refine your linkedin profile and the AI will connect you. Linkedin has become especially good in the past year or so as they have amped up the job board code as they smell Google is about to come in an steal their lunch (next few years).

The problem with these roles, apart from the unicorn ones with 250 applications, is that you end up working 60 hour weeks for crap money. If its a startup, 80% of them go bust.

Once you have done one, you realise how good the 35 hour week, contract specialist roles have been to us, having a fancy title is good an all but the reality is rarely as good as the concept.

I assume you're being tongue in cheek but believe me, it's not a piece of cake finding an interim role on £1,000-1,500/day.

I can't comment on startups but for the interim IT Director/CIO market for established companies, you're completely wrong. Although LinkedIn is becoming a good source of interim providers announcing new client mandates, most interim roles are never advertised. Providers contact their own network of experienced interims.

I know many experienced IT Directors and CIOs who have been benched quite a bit in the last year.

[Peoplesoft bloke]

Been offered a couple of outside IR35 roles recently, one 3 months, one six. Some clientcos seem to have realised they are fishing in a small pool.

[jayn200]

I started looking for a new contract mid January and was able to get 2 offers in a week and a half both outside (I only applied to outside contract roles) at £500 day rate. So for me the market has been kind to me lately. Personally, it's about a 30% drop to go inside so I will just jump ship if I can't find anything outside again. I do wonder if I priced myself a little too cheap but I think I was overly concerned the market is soft right now. Would like to be a little more aggressive and get a £200 day rate bump on the next one but will have to see how realistic that is.

[Bluenose]

I assume you're being tongue in cheek but believe me, it's not a piece of cake finding an interim role on £1,000-1,500/day.

I can't speak for CIO's and the interim-Management side, for Directors of Engineering/CTO's the market is ablaze and has been since the election.

[BritishLad88]

Oh thank you gracing us with your wisdom oh great smug one! No further discussion is required, case closed

you're welcome

[uk contractor]

HSBC to shrink investment bank and cut 35,000 jobs after profit slump
Not great news for any IT Contractors left there!