Economic Crisis & Rate Reduction

[Lance]

Just work 3 and bill them for 5. Everyone thinks it's OK.

work 3, spend 1 day on CUK, bill 5.

[GhostofTarbera]

depends on the contractor, and the client.

I've been asked three times, on three different contracts, what cut I'd accept.
Everytime I've said no.
Never have I had to leave due to that. On two occasions I've been there for at least 6 months afterwards.

Indeed, and so have most of us, but in this market today - I would reduce from £600 to £400 if alternative was out of contact


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[Lance]

Indeed, and so have most of us, but in this market today - I would reduce from £600 to £400 if alternative was out of contact

he who dares wins.....

If you take a cut of that much you're undervaluing yourself. I'd rather be on the bench for a year (albeit that's unlikely). I'm not in this game to be a wage slave.

[northernladuk]

he who dares wins.....

If you take a cut of that much you're undervaluing yourself. I'd rather be on the bench for a year (albeit that's unlikely). I'm not in this game to be a wage slave.

In these times I think that's a bit of a stupid thing to say. Market is the market, you've got to bend and flex. Generally I'd kind of agree to not being rolled over without some push back where possible but the world is turning to absolute ratchit out there so I think that's being a bit ridiculous to sit on your moral horse over 30% in these times.
I spent 5 months out of work and I'd have snapped someone's arm off for the 400 even if I knew it was a 600 quid. As long as it took me through the crap I can make it back in the rest of my career after. Would I have thrown 40k down the toilet over the time off just to prove a point? No I wouldn't and nor would any sane person.

I know you'd take it if you were ever in that situation though so just saying like.

And wage slave? Your wage doesn't change. 700 quid or so a month whatever happens so how can you be a slave to that?

[simes]

Working 3 days rather than 5 would be better.

Problem with that is that while you're working x days, the rest of the business works the five days. There will be 'week - x days' of stuff to do on the day you return.

I'd get a three-way call between hiring manager, agent and you to discuss an equal percentage drop for both parties. You and agent.

[jayn200]

Agencies always complicate things but in general you should be avoiding any kind of rate restriction. No real consulting company is giving a rate reduction.
Why can't they pay you the same rate? Find out the source of that issue and then offer a solution. Is it cash flow issue? Profitability issue? Has the value of the service you provide changed? (It's quite possible).
The reason why I say all that is that I would only accept a rate reduction if the actual value of what i provided has diminished.
If they have issues with cash flow then you tackle the problem of payments and payment terms and possible delays and you can offer solutions there. If they have issues with profitability then you tackle the problem of costs and offer solutions there either go part time or see if you can offer a solution to free up costs on your project that don't involve cutting your rates. But don't just take a rate reduction without an explanation or with a generic explanation of "Coronavirus has negatively impacted our business"

[LondonManc]

Problem with that is that while you're working x days, the rest of the business works the five days. There will be 'week - x days' of stuff to do on the day you return.

I'd get a three-way call between hiring manager, agent and you to discuss an equal percentage drop for both parties. You and agent.

I wouldn't involve the agent. I'd ask the hiring manager what rate cut the agent is taking and suggest that you'll fall in line with them, e.g. 20%

The agent will not be your friend and will try and pass their cut on to you.

[KinooOrKinog]

Ask them what their budget is now & go from there.

[simes]

I wouldn't involve the agent. I'd ask the hiring manager what rate cut the agent is taking and suggest that you'll fall in line with them, e.g. 20%

The agent will not be your friend and will try and pass their cut on to you.

Actually yes. I agree with that. Scratch my point.

[heyya99]

Do ye think there'll be imminent salary reductions for those who went perm?