Help with day rate?

[smadge22]

i All,

I recently started contracting. I'm a qualified accountant with over 10 years experience in practice and industry. Most of my experience has been based around management accounting/R2R.

I am currently working as a Finance Asset Delivery Partner, the responsibilities of the role are much more than initially indicated by my agency (I was told admin level to ease me into the company) and I found out on my second week that they expect me to cover the FC for the 6 months of my 8 month contract whilst they search for a replacement. I am more than capable of carrying out these tasks however prior to starting the role, my rate was confirmed on the basis of it being an admin level role.

Based on the above what do you think my day rate should be?

I am VERY new to contracting and don't know where I stand on requesting an increase in the day rate as a result of the additional responsibilities. Nor do I know what the average day rate should be for this type of role.

[jamesbrown]

If you don't know what your rate should be, then we can't tell you.

You'll need to research it yourself, look at jobs boards, ask colleagues, whatever.

As an aside, a majority of contractors here work in IT. There are plenty of accountants around too, but not operating as contractors, rather serving them, so I doubt you'll get any feedback that is relevant to your situation (and, in any case, no one really knows your situation, how much the client needs you etc.).

[northernladuk]

I assume you are inside IR35?

[zonkkk]

The client's expectations should have been clear to you when you came out of the interview.

Nothing you can do really, until renewal, other than giving notice of course; otherwise you'll just come across as a moaner and unprofessional.

Learn from it and better luck with your next contract.

[Smoggy]

If you ask for a rate rise at this stage it's probably unlikely you'd get it and you need to be prepared to walk away in that scenario or else they won't take you seriously.

Or just suck it up. If you suck it up then you've got some excellent experience for your CV which should help securing the next role.

[BlasterBates]

This is your first contract so I would just accept and wait for renewal. Before the renewal do some research, talk to a few agents and quote a higher rate to see whether you can get interviews. If so, that's the point where you can raise your rate.