Would you give up 10% for two days WFH?

[itjobs]

My contract is due for renewal this month. I commute from BHX to Canary Wharf 3 days and WFH (Work from Home) 2 days a week. Great team, no annoying micro management stuff etc but will have to have mandatory absence of 15 working days + possibility of rate cuts (min 5%) during the course of contract.

As contract is due for renewal, Client wanted to know if I am happy to go ahead with renewal at the same rate. When I looked around, I saw many openings offering at least 10-15% more than my current rate. Apply a few, interview done, received a 6 months contract.

I am in a dilemma whether to continue or to accept the new one. With new client, I surely cannot have 2 days WFH during initial months until I prove my value. Current client knows what I can deliver therefore they never saw 2 days WFH as an issue at all.

I would appreciate your views to help me see different point of view on this.

[MrMarkyMark]

Many ways of looking at it, cost savings, benefit, whether you want a new challenge, chances of extension, whether you want an easy life etc.

To be frank, only you can make that decision.
Also, how do you know the new place does not do furloughs or rate cuts, most in Canary Wharf do?

[ShandyDrinker]

Yes, I'd give up 10% for 2 days WFH as the costs associated with the extra commute or hotel stays would swallow up a reasonable amount of the extra anyway.

Not only that, but if the current team fit is good and they value your contribution then why move? This should not be underestimated - I have done so in the past to my detriment now.

[itjobs]

Many ways of looking at it, cost savings, benefit, whether you want a new challenge, chances of extension, whether you want an easy life etc.

To be frank, only you can make that decision.
Also, how do you know the new place does not do furloughs or rate cuts, most in Canary Wharf do?

New place does do furloughs and rate cuts. It is prevalent in Canary Wharf.

[MrMarkyMark]

Yes, I'd give up 10% for 2 days WFH as the costs associated with the extra commute or hotel stays would swallow up a reasonable amount of the extra anyway.

Not only that, but if the current team fit is good and they value your contribution then why move? This should not be underestimated - I have done so in the past to my detriment now.

My points exactly.

You have to think carefully about each case, a higher rate, of 10%, is only worth it if the contract lasts the whole term and you don't get it eaten up with a rate cut.
Personally, I would probably stick where I was.

[itjobs]

Yes, I'd give up 10% for 2 days WFH as the costs associated with the extra commute or hotel stays would swallow up a reasonable amount of the extra anyway.

Costwise it makes no difference because I buy monthly season tickets and I don't stay in hotel because I come back home.

Not only that, but if the current team fit is good and they value your contribution then why move? This should not be underestimated - I have done so in the past to my detriment now.

Very valid point. Exactly the one that put me in this dilemma.

[MrMarkyMark]

New place does do furloughs and rate cuts. It is prevalent in Canary Wharf.

OK, when did the new place and the last place have the cut?

I made a choice recently to take one somewhere that had recently had a cut, although they do it less than other IBs.
Swayed my decision.
It has to be noted, however, that some people dodged the last cut here, due to being with a different agency than other contractors.
In fact the direct contractors suffered more than most

Based on what you are saying I would stay where I was, although I would take into consideration when the rate cuts last happened at the different places.

[ShandyDrinker]

Costwise it makes no difference because I buy monthly season tickets and I don't stay in hotel because I come back home.



Very valid point. Exactly the one that put me in this dilemma.

Good point re monthly season ticket. For the last point alone on the team fit and WFH I'd stay where I was.

The only time I would now even consider going against that is if it was for a contract where I could skill up on a technology that was considered hot and could pay dividends over the next 3-5 years. As it's hard to spot those trends with the amount of vapourware out there now on balance I'd still probably stay where I was.

[itjobs]

OK, when did the new place and the last place have the cut?

I made a choice recently to take one somewhere that had recently had a cut, although they do it less than other IBs.
Swayed my decision.
It has to be noted, however, that some people dodged the last cut here, due to being with a different agency than other contractors.
In fact the direct contractors suffered more than most

Based on what you are saying I would stay where I was, although I would take into consideration when the rate cuts last happened at the different places.

Rate cuts in my current contract happened in June. So at least until December I don't see it happening again. However, 15 days furlough has to happen by December which is going to compensate the client for rate cut :-).

[ChimpMaster]

Better the devil you know.

If you're not that bothered about leaving, you can use the new offer to negotiate an increase with current client - but only you know how much they need/want you and hence how strong your hand is.