This is where inflation will come from.
Prices up 10% and wages down 40%.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Consultancy cutting rates by 40%
Collapse
X
-
Originally posted by Paralytic View PostThe issue you have is that you're seeing this as a 40% cut. Its not, it's the current market rate.
Sent from my iPhone using Contractor UK ForumLeave a comment:
-
The issue you have is that you're seeing this as a 40% cut. Its not, it's the current market rate.Leave a comment:
-
Originally posted by CountryGirl View PostHi Guys,
I've been contacted yesterday by a recruiter who offered me a 6 months WFH contract with a consultancy, but at ~60% my normal rate.
His explanation for the low rate was that "they have been badly hit by the pandemic".
I've given it more-than-a-bit of a thought, and my feeling is that, although it is a relatively small consultancy,
it is an attempt to take advantage of the current market state in order to increase profit on the contractor expense.
What are your thoughts?Leave a comment:
-
Originally posted by CountryGirl View PostHi Guys,
I've been contacted yesterday by a recruiter who offered me a 6 months WFH contract with a consultancy, but at ~60% my normal rate.
His explanation for the low rate was that "they have been badly hit by the pandemic".
I've given it more-than-a-bit of a thought, and my feeling is that, although it is a relatively small consultancy,
it is an attempt to take advantage of the current market state in order to increase profit on the contractor expense.
What are your thoughts?
We are getting great sub £200 programmers from all over the world for example, product owners for £350, we were paying £700/£800 last year
Sent from my iPhone using Contractor UK ForumLeave a comment:
-
Originally posted by CountryGirl View PostHi Guys,
I've been contacted yesterday by a recruiter who offered me a 6 months WFH contract with a consultancy, but at ~60% my normal rate.
His explanation for the low rate was that "they have been badly hit by the pandemic".
I've given it more-than-a-bit of a thought, and my feeling is that, although it is a relatively small consultancy,
it is an attempt to take advantage of the current market state in order to increase profit on the contractor expense.
What are your thoughts?
1. Are you financially resilient to be able to turn the work down?
2. Have you other offers on the table?
3. Having spoken to your previous clients, do they expect any work would be coming your way soon?
4. Have you any other interviews lined up?
If the answer to 1 is Yes, then consider the other questions.
If the answer to 1 is No, then take the contract.
...but re-reading your post, is this an offer of a contract, or an offer of being put forward? If it's an offer just to be put forward, then yes, you should go for it. Any interview in a client you don't already work with for a relevant role is a good thing. If the rate is too low, you can always negotiate or turn them down when it comes to the offer stage.Leave a comment:
-
Originally posted by CountryGirl View PostHi Guys,
I've been contacted yesterday by a recruiter who offered me a 6 months WFH contract with a consultancy, but at ~60% my normal rate.
His explanation for the low rate was that "they have been badly hit by the pandemic".
I've given it more-than-a-bit of a thought, and my feeling is that, although it is a relatively small consultancy,
it is an attempt to take advantage of the current market state in order to increase profit on the contractor expense.
What are your thoughts?
Equally I've got a piece of work that I need to quote for where we should be going for £850 (according to our G-cloud price list) but I will be going in at £725 ish (as I suspect any competitors will be doing the same).Last edited by eek; 6 November 2020, 10:33.Leave a comment:
-
If you need the work & the income take it as better than nothing! But yes they always have & always will take advantage of the bad economic cycles.Leave a comment:
-
Consultancy cutting rates by 40%
Hi Guys,
I've been contacted yesterday by a recruiter who offered me a 6 months WFH contract with a consultancy, but at ~60% my normal rate.
His explanation for the low rate was that "they have been badly hit by the pandemic".
I've given it more-than-a-bit of a thought, and my feeling is that, although it is a relatively small consultancy,
it is an attempt to take advantage of the current market state in order to increase profit on the contractor expense.
What are your thoughts?
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: