Plenty of people are looking, but I’m curious who’s actually managed to move on.
11 replies (most recent on top)
Case in point.
The OP said he/she started out as a Contractor at Citi before Citi gave him a full-time permanent job FTE. And the OP said he's worked as a Contractor every now and then, every few years.
Resume doesn't look good when employment is choppy with hiccups a few years here and there at various contractor jobs and some permanent jobs along the way.
It's a merry go-round vicious cycle that's difficult to get out of when you're trying to land a full time permanent job with medical benefits and a pension plan.
Companies will only view you as good enough to be a contractor but Not good enough to be a permanent employee.
The urban myth is that at least the employee is working even if the job is a contractor job. But unfortunately, employers are Not and Never merciful or understanding. They're cold, callous, greedy, selfish and brutal !
How long is your non-working notice ? 2 months, 3 months, 6 months, 1 year ??
The problem with Temping is it's a double edged sword. You're d@mned if you take take the Temp job, and you're d@mned if you don't.
The job seeker needs the income especially in this up and coming recession.
But there's also the urban myth that working in at least a Temp job will make the employee look optically favorable to employers while they search for that Full-time permanent job.
Unfortunately, sometimes temping can be a negative feedback loop and give employers negative optics. Have you ever heard of the expression, "Once a temp, always a temp." ?
Employers tend to pigeon hole, categorize and box both permanent and temporary employees. Employers have tunnel vision. This is one reason why some employees can not get promoted or get jobs in a different line of work.
Employers often think and have the mind-set of "If you were any good, why are you temping for No benefits and no job security?", and by extension, "You're only good enough to be a Temp. So why should I hire you as a FTE?".
Consequently, the job seeker who still needs income is caught in a vicious cycle matrix of becoming a perpetual temp. When employers see on your Resume that you've been working as a Contractor for several companies and for several months or years, it doesn't look good optically.
Employers are thinking, "You're only good enough to be a Temp. So why should I hire you as a FTE?".
I'm Not saying people should not accept Contract-Temp jobs. We all need money because we have bills to pay.
I'm just pointing out the above and the negatives of working as a Temp-Contractor when your real goal is to land a Full-time Permanent job with medical insurance, pension, PTO etc. benefits.
I've witnessed plenty of temps work Contract for years before they finally land a FTE job both at Citi and other companies.
Several Temp-Contractors in Tech/Data were converted (offered Permanent jobs) to FTE. But they were Temps for at least one year, some as long as 4 years.
@192 I understand that but I was LAID OFF and the question was has anyone landed anything. I am well aware of what a contract role involves. I started at Citi as a contractor and have worked 1099 at various times over my career. I am making more per hour and will set aside 30% for taxes, etc. And will write off applicable business expenses. This is a 1 year contract and I am still on non-working notice. Who would DECLINE a contract job in this market? As I said in my original reply, I applied for over 75 jobs and only got 3 interviews - this role was one of the three. I don't understand the reasoning of of your reply. It's as if you thought I left Citi on my own to take a contract job? Any other questions?
You said your new job after 6 weeks of searching is Contract/Temp/Contractor.
It may pay more in salary or hourly wages than your prior Laidoff job, but the premium is for your pension benefits, medical and dental insurance you need to pay for on your own that's Not in a group/company plan.
Those benefits are usually 30% to 40% of base salary. An employee w/$100k base salary actually costs the Employer about $130k.
As a Temp/Contractor you also have fewer labor rights than a Full-time Permanent employee. You also don't have PTO. You can take vacation/holidays (Christmas, New Years Day etc.) but you will Not be paid for them.
Temp/Contractor jobs are exactly this. Temporary. No one in their right mind or very few people will choose to give up a pension, medical/dental, other benefits and labor rights to work Temp.
Your employer is the Temp Agency.
@qt that may be true in some cases, but a few months back Amex hired Dan Friedman as VP for Data Risk. It's a different matter that Dan doesn't know the first thing about data, much less how to identify, measure, monitor and report on data risk. He was a glorified project manager in Nawani's team in the enterprise data office. Then again, Nawani's own data skills are highly suspect
@kw Amex is a complete joke. They only hire internal from what I’ve been told and experience. They simply bring people in for interviews to fill their quotas. Avoid unless you like wasting your time.
@gk Yes. Even leaving aside Big Tech, insurance firms (both property and casualty and even health) pay very well especially for senior level roles (VP and above..VP is senior to director much like the rest of the industry except big banks) and you don't have to be an old dinosaur to be a VP at these firms. Amex also pays very well for VP and above...base, bonus and stocks though directors at Amex also get stock.
In fact, almost every big bank has begun nickle and diming in the current market. Morgan Stanley used to easily pay around 225k for VP's but not it tops out at 205k. Same story at JP. Embarassing
@fn how about the pay outside banking, can they match the pay?
Key is to apply outside of banking (the grass IS greener).
@OP I just got a new job. I was laid off 1/16/26. It took just over 6 weeks. It is a contract role, pays more, is 100% remote and not in banking. I applied to at least 75 jobs, only got 3 interviews. Best of luck, God bless and stay strong to all.
Yep - having professional designations like accounting can make a clean pivot easier.