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    Default Take a 10% drop or hold off signing contract for better rate still not yet in the bag

    Here's the thing. I've been offered a role with a new banking client at 10% less than my usual rate, gone through the checks through the agency ((quicker than expected I might add) and they sent my contract to sign 3 days ago. In the meantime, I've had another telephone interview for a similar role but at the rate I always work to. Both are 6 months. I was aware of the role and made the second agent aware that I was in the middle of reference checks with the first client. So, I had the telephone interview today (Thursday) and now waiting on a decision on a face to face which the HR bod says will be on Monday. I've had my contract reviewed and there are a number of agency terms I don't agree with. I'm going to send these comments today for negotiation. Already told first agent a couple of days back that my contract is currently being looked at although they were pushing me to sign before the references had even been completed! I'm hoping to hold then off until the interview (if I get it) but am I risking losing the first contract? I don't want to leave myself with nothing and a bad rep but the potential extra money is alot in 6 months which I need. What's the longest you've held out before signing?
    Last edited by ziggystardust; 28th January 2016 at 12:48.

  2. #2

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    Quote Originally Posted by ziggystardust View Post
    Here's the thing. I've been offered a role with a new banking client at 10% less than my usual rate, gone through the checks through the agency ((quicker than expected I might add) and they sent my contract to sign 3 days ago. In the meantime, I've had another telephone interview for a similar role but at the rate I always work to. Both are 6 months. I was aware of the role and made the second agent aware that I was in the middle of reference checks with the first client. So, I had the telephone interview today (Thursday) and now waiting on a decision on a face to face which the HR bod says will be on Monday. I've had my contract reviewed and there are a number of agency terms I don't agree with. I'm going to send these comments today for negotiation. Already told first agent a couple of days back that my contract is currently being looked at although they were pushing me to sign before the references had even been completed! I'm hoping to hold then off until the interview (if I get it) but am I risking losing the first contract? I don't want to leave myself with nothing and a bad rep but the potential extra money is alot in 6 months which I need. What's the longest you've held out before signing?
    To be honest I wouldn't use the contract review as a way to enable you to turn down the role at the 11th hour, either accept the one being offered (pending review) or take a risk on the other potential role (if it was me I would take the former, a bird in the hand and all that )

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    90% of something > 100% of nothing
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

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    Do some sums in exel to work out where the tipping point that hanging on for a better rate becomes the worse option over the next 6 months. It's not rocket science.
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    Faqqed Off

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    Could I interest you in one of these, sir?

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  6. #6
    Boo
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    Quote Originally Posted by ziggystardust View Post
    So, I had the telephone interview today (Thursday) and now waiting on a decision on a face to face which the HR bod says will be on Monday. I've had my contract reviewed and there are a number of agency terms I don't agree with. I'm going to send these comments today for negotiation. Already told first agent a couple of days back that my contract is currently being looked at although they were pushing me to sign before the references had even been completed! I'm hoping to hold then off until the interview (if I get it) but am I risking losing the first contract? I don't want to leave myself with nothing and a bad rep but the potential extra money is alot in 6 months which I need. What's the longest you've held out before signing?
    If the f2f is on Monday you should be able to hold the other guys off until then, but if they take 2 weeks after that to decide you're tuliped, innit ?

    What does the termination clause with the first role say ? If it's a week you can say yes to the first role then bale out if you get the higher paying gig...

    Boo2

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    Take into account lost revenue because you're on the bench for a week or two longer.

    eg for a rate of 500 per day, two weeks on the bench at 500 per day costs you 5000 quid.
    Author of the best seller "How to get Poor quickly"

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    Fag packet

    130 days x 90 = 11700 (ie 90% of rate)
    130 days x 100 = 13000 (Full rate)

    Difference = 1300 divided by offered rate of 90 is 14.4 days

    So if you sit on the bench navel gazing and miss over 14 working days you are not going to make up that lost revenue at the higher rate (if you got the gig).

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    Quote Originally Posted by Pondlife View Post
    Fag packet

    130 days x 90 = 11700 (ie 90% of rate)
    130 days x 100 = 13000 (Full rate)

    Difference = 1300 divided by offered rate of 90 is 14.4 days

    So if you sit on the bench navel gazing and miss over 14 working days you are not going to make up that lost revenue at the higher rate (if you got the gig).
    Although you'll do about 19/20 days a month, so I'd make that 120 days rather than 130. Suppose maybe more seeing as there's no christmas to contend with, but what if you get extended? The long game might make waiting very much worth it.

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    Quote Originally Posted by Boo View Post
    If the f2f is on Monday you should be able to hold the other guys off until then, but if they take 2 weeks after that to decide you're tuliped, innit ?

    What does the termination clause with the first role say ? If it's a week you can say yes to the first role then bale out if you get the higher paying gig...

    Boo2
    That's the problem, there's no termination clause included from my side, only from theirs, which is one of the terms I've raised as not being in agreement with when I sent my contract back for amendments. Agency rang today, got a definite face to face but it's for Tuesday morning. I've agreed but that's an extra day. ....

    In the meantime, waiting to hear back from agency 1.

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