Will I get a Contract in the Credit Crunch?

Yes - But it could take longer, interestingly there are fewer job adverts but more contracting jobs!

Takes longer to find a job

At BITE we’ve witnessed a slight slowdown in the speed at which contractors are securing jobs. In the past we’d expect contractors to land a contract within 2-4 weeks of working with us but in some cases we’re seeing few advertised vacancies, resulting in a longer time to find a job - now between 3-6 weeks.

More and more contract jobs

However market data and intelligence suggests that the number of contracting jobs is actually on the increase. Traditionally in the UK contract jobs made up about 30% of the total job market. More recently we’ve seen a significant shift with up to 50% of jobs making up contracts and the other half permanent. So while the overall number of jobs could be lower, contracting positions are on the up.

The problem many contractors are having is accessing the “hidden job market” and finding unadvertised jobs which are also on the increase. Overall the chances of finding contract work is fairly good, although it could take slightly longer, but factors such as pay rates are relatively the same for most jobs types.

What's the difference between contract & permanent jobs?

How are rates affected?

What we’re seeing is that many first time contractors are finding it difficult to get market rates, but that has always generally been the case. The upper end of contractors who previously enjoyed above market rate roles are also feeling the effects of the credit crunch, which top end rates dropping. However for a large number of contractors falling into the middle of the spectrum rates remain static.

What can BITE do?

BITE can help you create a winning CV and will assist you with interview training and advice so that you can secure the right contract jobs. Combined with expert assistance with job search and CV marketing we’ll help you tap into the every growing unadvertised job market to help you find your next contract role.