August, 2004
When is it going to get good again?
When I'm asked this uestion, it usually means, "When am I going to get a job again?" For some people it's, "When will salaries (or billing rates) get good again?"
The answer is . . . things are improving and, barring terrorist attack, will get better next year regardless of who is elected.
Although markets don't like uncertainty and that's what happens if Kerry is elected.
Look, you can't put the genie back in the bottle about offshoring any more tha you an tell a manufacturer not to build a car or a shirt in a cheaper market. It reduces the cost and allows more American consumers (and foreign buyers, too) buy the shirt or car. Same thing with offshoring.
So, wages will be lower for a while . . .althouhg we are starting to see some companies raise rates and some raise salaries.
What are companies looking for? Business knowledge as well as technical experience. Training is not enough. Experience si required. For example, a project manager with fixed income experience. A developer with J2EE and equities. Network professional and financial services experience.
There are a lot more consulting assignments and rates are mediocre at best. Full time salaries are up a few percentage points.
Sought after skills? The list of requirements in a job spec are still pretty long. It's not just J2EE and business knowledge as in the example above. Its about 5 or 6 skills plus business knowledge.
But firms are finding these people and hiring them.
And that is different from a little while ago when the list was onger and firms were interviewing and NOT hiring.
And evertything changes if there is a terrorist attack.
When I'm asked this uestion, it usually means, "When am I going to get a job again?" For some people it's, "When will salaries (or billing rates) get good again?"
The answer is . . . things are improving and, barring terrorist attack, will get better next year regardless of who is elected.
Although markets don't like uncertainty and that's what happens if Kerry is elected.
Look, you can't put the genie back in the bottle about offshoring any more tha you an tell a manufacturer not to build a car or a shirt in a cheaper market. It reduces the cost and allows more American consumers (and foreign buyers, too) buy the shirt or car. Same thing with offshoring.
So, wages will be lower for a while . . .althouhg we are starting to see some companies raise rates and some raise salaries.
What are companies looking for? Business knowledge as well as technical experience. Training is not enough. Experience si required. For example, a project manager with fixed income experience. A developer with J2EE and equities. Network professional and financial services experience.
There are a lot more consulting assignments and rates are mediocre at best. Full time salaries are up a few percentage points.
Sought after skills? The list of requirements in a job spec are still pretty long. It's not just J2EE and business knowledge as in the example above. Its about 5 or 6 skills plus business knowledge.
But firms are finding these people and hiring them.
And that is different from a little while ago when the list was onger and firms were interviewing and NOT hiring.
And evertything changes if there is a terrorist attack.
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