rate increases

[diesel]

I have been on current gig for just under 6mths...deciding I want a rate increase to bring me in line with market rates etc.

whats best wording to ask for this? Looking for 10% increase to bring in line with the high value work I am doing for client.

[stek]

I have been on current gig for just under 6mths...deciding I want a rate increase to bring me in line with market rates etc.

whats best wording to ask for this? Looking for 10% increase to bring in line with the high value work I am doing for client.

'I will not be renewing as I will be starting a new contract with clientcoB on xxxxx'

Prereqs are having a new contract at desired rate with clientcoB in the bag.

Outcomes are clientcoA will offer more or clientcoA doesn't. So then you walk. Or clientcoA doesn't, you're not worth it, so off to clientcoB. Win win.

Don't burn your bridges...

[diesel]

'I will not be renewing as I will be starting a new contract with clientcoB on xxxxx'

Prereqs are having a new contract at desired rate with clientcoB in the bag.

Outcomes are clientcoA will offer more or clientcoA doesn't. So then you walk. Or clientcoA doesn't, you're not worth it, so off to clientcoB. Win win.

Don't burn your bridges...

yeah don't want to do that...but current project is very demanding and I know my discipline is in high demand already. I work elsewhere part time (1 day pw) at a higher rate but actually enjoy the work with Client A so would not walk for now even if they offer no increase.
I do feel I am worth a few ££ higher ph..

[northernladuk]

You seem to have forgotten to mention the most important part, who your contract is with. If you are through and agent you speak to him. If there is one your contract will be with the agent. It is likely you will do more harm than good trying to hold the client to ransom over the gig. The agent won't like it either. In this position, however, you are in line for a bigger cut of the agents money as you are now secure and he hasn't done any extra work so quite reasonable he gives up some of his percentage. This won't be a lot though.

How much are you thinking by the way, 20 quid a day or 100 quid a day.

As I said the client or agent may just see you holding them to ransom cause you foot is in the door. You are doing no more than you were expected to do when you joined and agreed the rate. Wanting more money or leave isn't going to go down very well at all. You need to be able to justify why you deserve more money. If you can't then your option is go for a small rise or walk.

If you do try asking who ever try to be tactful, pay me or I walk won't do you any favours. A client will not appreciate being held to ransom after you agreed a rate. I am not saying don't ask, just think very carefully... and if you do go in be prepared to walk. If you go in all guns blazing and then just fold you card will be marked. If an agent is involved remember he is an expert in dealing with contractors wanting more and may call your bluff.

[diesel]

You seem to have forgotten to mention the most important part, who your contract is with. If you are through and agent you speak to him. If there is one your contract will be with the agent. It is likely you will do more harm than good trying to hold the client to ransom over the gig. The agent won't like it either. In this position, however, you are in line for a bigger cut of the agents money as you are now secure and he hasn't done any extra work so quite reasonable he gives up some of his percentage. This won't be a lot though.

How much are you thinking by the way, 20 quid a day or 100 quid a day.

As I said the client or agent may just see you holding them to ransom cause you foot is in the door. You are doing no more than you were expected to do when you joined and agreed the rate. Wanting more money or leave isn't going to go down very well at all. You need to be able to justify why you deserve more money. If you can't then your option is go for a small rise or walk.

If you do try asking who ever try to be tactful, pay me or I walk won't do you any favours. A client will not appreciate being held to ransom after you agreed a rate. I am not saying don't ask, just think very carefully... and if you do go in be prepared to walk. If you go in all guns blazing and then just fold you card will be marked. If an agent is involved remember he is an expert in dealing with contractors wanting more and may call your bluff.

Thanks Northern Lad...i was never going to ask client, my misunderstanding when i posted, i always use agent.
i was looking at about £40 extra per day, client has put me on a project where i am now a lead (where my contract title is below that) and project is very demanding - the last 4 engineers before me all left less than 2 years due to the stress of the project.
i would list my reasons and had no intention to threaten to leave, why would i? i enjoy the project demands (for now)
even if i was going to leave i would not threaten over money, not worth buring a bridge IMHO, and manager is a friend whom i have know for a number of years in the industry, but i know he does not have full control on my rate, before anyone asks!
thanks

[Contreras]

yeah don't want to do that...but current project is very demanding and I know my discipline is in high demand already. I work elsewhere part time (1 day pw) at a higher rate but actually enjoy the work with Client A so would not walk for now even if they offer no increase.
I do feel I am worth a few ££ higher ph..

Thanks Northern Lad...i was never going to ask client, my misunderstanding when i posted, i always use agent.
i was looking at about £40 extra per day, client has put me on a project where i am now a lead (where my contract title is below that) and project is very demanding - the last 4 engineers before me all left less than 2 years due to the stress of the project.
i would list my reasons and had no intention to threaten to leave, why would i? i enjoy the project demands (for now)
even if i was going to leave i would not threaten over money, not worth buring a bridge IMHO, and manager is a friend whom i have know for a number of years in the industry, but i know he does not have full control on my rate, before anyone asks!
thanks

The rate I'd accept depends on many factors and not just my 'worth'. If you don't particularly want to leave because you find the project engaging and enjoy working with the client team then that is your reasoning for a £40 discount on the market rate.

[northernladuk]

=
i was looking at about £40 extra per day, client has put me on a project where i am now a lead (where my contract title is below that) and project is very demanding - the last 4 engineers before me all left less than 2 years due to the stress of the project.

So you are inside IR35 then? You could walk and find a gig outside IR35 would greatly increase your income

p.s. I hope you aren't looking at a rate increase mid contract?

[SueEllen]

Thanks Northern Lad...i was never going to ask client, my misunderstanding when i posted, i always use agent.
i was looking at about £40 extra per day, client has put me on a project where i am now a lead (where my contract title is below that) and project is very demanding - the last 4 engineers before me all left less than 2 years due to the stress of the project.

Most people lie to be diplomatic on why they leave projects.

I would cite something like stress or location rather than state someone I have to work with is an a***hole or your methods are tulip, and I can get the same or more money elsewhere for less tulip.

[mudskipper]

So when is it acceptable to ask for an increase for no real change in role?

Been with ClientCo for just over 2 years - probably looking at another renewal at the end of the month. Been on current rate for 18 months (big increase before that, but rate was previously properly tulip) - considering asking for a small (5%) increase. Agent is on 15% margin, so done OK out if it. But the new contractor that we just got in is direct, so I suspect costing less than me...

[northernladuk]

So when is it acceptable to ask for an increase for no real change in role?

Been with ClientCo for just over 2 years - probably looking at another renewal at the end of the month. Been on current rate for 18 months (big increase before that, but rate was previously properly tulip) - considering asking for a small (5%) increase. Agent is on 15% margin, so done OK out if it. But the new contractor that we just got in is direct, so I suspect costing less than me...

It would have to be at renewal as that is the time the contracts/rates are agreed. If the agent is on 15% and you have been there more than 18 months I would say there is quite a bit of scope to shave his margin there.