I am new to IT consulting. I want to understand how I will marketed by my employer.From my friends I came to know that my employer will farward my resume to am vendor who is looking for a person with required skillset. If he is satisfied with my profile, the vendor will put me into the project and will pay directly to my employer every month. And my employer will pay the money to me.Is this true?

oh dear surely not

David, what you described is body leasing not consulting...

This is why the day rate for contract developers in LONDON is £200 a day, assuming they can get a job at the moment.

This is typical body shopping. It is common amongst small private IT 'consulting' shops. I would aviod them at all costs since:1. You will likely be tied to the company ( I am assuming you are on work visa).2. They pay under market3. They may try and get you to inflate your skills to be a more perfect match to the 'vendor'. This means that you are thus under increased pressure to perform the duties what you have put ( which may not be true).4. These small body shops are usually run by unscrupulous owners who are usually single minded in their quest for the almighty dollar/euro /whatever...they are worse than real estate agents and recuiters...and that is saying something....believe me , that is saying something!.....the list is too big to put down here...

"worse than recruiters"? Yeah until you're made redundant and looking for your next job, then all of a sudden we're meant to find you a 20% pay rise and a fancy title and an easy life?Can't BELIEVE you brag about driving a Jaguar! Are you a very, very old man? Or do you have a thing for slightly dodgy older women?

Jaguer Driver is right. Recruiters and Estate Agents are right down there with Glasgow Rangers and drug dealers as the lowest of the low.